North American lobster sales surpassed pre-pandemic levels in 2023

Published 2024년 1월 25일

Tridge summary

Despite a 5% decrease in North American lobster landings in 2023, the industry experienced a robust year due to a steady supply and rising demand from Asian markets, especially China, Hong Kong, and Vietnam. The revival of U.S. lobster exports to China, previously impacted by tariffs, further boosted the industry. However, increased interest rates are affecting lobster distribution as buyers are less inclined to maintain offseason inventory. The threat of losing Marine Stewardship Council certification due to interactions with the endangered North Atlantic right whale has been largely mitigated.

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

Original content

Stable supply and a hungrier Asian market provided the basis for a solid year for the North American lobster industry.North American lobster landings are expected to be down 5 percent in 2023 once totals are released, but the resource is in excellent shape and continues to be reliable, according to a panel of shellfish experts speaking at the 2024 Global Seafood Market Conference in Orlando, Florida, U.S.A. on 23 January.“We've been hovering right around 300 million pounds as a total category for many years after a big run-up in the 1990s and early 2000s,” Ready Seafood Vice President Andrew Daughan. “It's a wild-caught species, so you're going to have some fluctuations in landings, but year after year it has proven to be a consistent fishery.”Exports to China, Hong Kong, and Vietnam fueled growth in the sector, according to Slade Gorton Director of Marketing and Business Development Annie Tselikis.“Looking at the 2023 data, we're almost back to where we were not just ...

Source: Seafoodsource