Australian lobster returns to the Chinese market, exporters lament

Published 2024년 11월 27일

Tridge summary

China is set to resume importing live lobsters from Australia by the end of 2024, following a ban that had significantly impacted Australian lobster exports. In 2019, China's import of Australian rock lobster made up over 95% of Australia's total exports, valued at A$7.3 billion. The ban, along with Australia's shift to other markets, led to a 46% decrease in live rock lobster exports in 2023. However, frozen rock lobster exports saw an increase during this period. Ferguson Australia, a lobster exporter, has been focusing on the European market and developing new products for it. The company also participated in the China International Import Expo in Shanghai.

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

Original content

China will resume importing live lobsters from Australia by the end of 2024, but some Australian lobster exporters remain cautious about the Chinese market. During the Qingdao Fishery Expo, Andrew, general manager of Ferguson Australia "We used to put all our eggs in one basket, but we won't do that now," Ferguson told UCN. "We will sell to China, but we won't give up existing markets." In 2019, China imported A$7.3 (US$474 million) worth of Australian rock lobster, accounting for more than 95% of Australia's total exports. At the end of 2020, relations between the two countries became tense, and import trade stagnated after China implemented a ban. During the epidemic, Australian lobster exporters turned to other Asian markets such as Vietnam and Hong Kong, as well as European markets, but still could not offset the loss of the Chinese market. In 2023, Australia's live rock lobster exports were A$411 million, down 46% from 2019. Frozen rock lobster exports increased from A$20.8 ...

Source: Foodmate