Why Hong Kong and Australia imports of lobster soared by 2000%

Published 2021년 7월 7일

Tridge summary

Since the Chinese embargo, which accounted for over 90% of Australian lobster exports, Australia has seen a significant increase in lobster exports to Hong Kong, with a 2000% surge from October last year to April this year. The majority of these lobsters are smuggled to mainland China, either by sea or land, with Hong Kong's seafood exports to China increasing 20 times in the first quarter of this year. Despite smuggling activities being common, they have increased in intensity following the embargo, as tariffs disappeared under the China-Australia Free Trade Agreement in 2015.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Prior to the Chinese embargo, more than 90% of Australian lobsters were exported to China. Pictured is a lobster caught off the west coast of Australia. Saved from Australian ‘Southern Rock Lobster’ website It seems that Australian lobsters (lobsters), which were blocked from export due to the Chinese authorities' embargo, have found a "detour" to Hong Kong. Recently, Hong Kong's imports of Australian lobsters have increased rapidly, and the number of cases of smuggling to mainland China by land or sea is increasing. According to reports by the South China Morning Post on the 7th, amid the escalating trade conflict between China and Australia, the Chinese authorities virtually banned the import of Australian lobsters in November last year, along with timber and wine, through ‘strengthening quarantine’. China has accounted for more than 90% of Australia's lobster exports, and as of 2019, Australia's lobster exports to China recorded about 750 million Australian dollars (about ...

Source: Hani