Canada's lobster industry suffers a double blow: US and China tariffs squeeze, market outlook bleak

Published 2025년 3월 13일

Tridge summary

Canada's lobster industry is facing challenges due to tariffs from both the United States and China, its two largest markets. The industry, which exported 18,095 tons of live lobsters to China in 2024, worth CAD 379.7 million, and over 44,000 tons to the US, worth nearly USDA 1.4 billion, is uncertain about the future. The tariffs, imposed in response to Canada's tariffs on Chinese products, have led to concerns about market stability and price fluctuations. The industry is also dealing with low stock levels and strong demand, leading to high prices, but the opening of the spring fishing season is expected to increase supply. The industry is urged to adapt to market conditions and consumers' price sensitivity. The outcome of the Canadian government's trade policies in the coming months will significantly impact the industry.

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

Original content

Canada has always relied on China and the United States as its two major markets, but now it is being targeted at the same time, and the industry pressure has increased sharply. Canadian lobster exports have been hit, and the prospects for fishermen and exporters are worrying In 2024, Canada will export a total of 18,095 tons of live lobsters to China, worth 379.7 million Canadian dollars (about 263 million US dollars), making it the second largest market after the United States. The United States imported more than 44,000 tons, worth nearly 1.4 billion US dollars. The degree of impact on Canadian provinces varies: · Nova Scotia: The most affected, live lobsters exported to China account for about 40% of Canada's total exports to China. · New Brunswick: Mainly exports frozen lobster tails and lobster meat, with a small export volume to China, accounting for only 3% of Canada's frozen lobster exports. 80% of the province's frozen lobster products are sold to the United ...

Source: Foodmate