Once China resumes Australian lobster import trade, its price may exceed US$100 per kilogram

Fresh Common Lobster

Published Nov 14, 2023

Tridge summary

The potential lifting of China's trade ban on Australian lobsters could result in a significant increase in prices, exceeding $100 per kilogram. The ban, which has been in place for three years, has caused losses for the lobster industry and led to job cuts. While China's participation in the lobster trade is crucial, it is important to continue supporting the local market as well.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

According to news from SeafoodNews on November 10, if China lifts its three-year trade ban on Australian lobsters, the price of Australian lobsters may rise to more than US$100 per kilogram. Australian retailer Stamati Elias of Jimmy Elias & Son Seafoods said that in the past three years, lobster has become an "affordable" commodity for consumers, and the price of rock lobster is reasonable, with an average price of US$60-80 per kilogram. But if the ban is lifted and demand from China is strong, lobster prices could reach or exceed $100 per kilogram. Fisher Simon Rowe said that if the trade ban was lifted, it would be "welcomed" by everyone in the industry who catches and sells fish and would be a good thing for fishermen. The company has suffered huge losses since China announced the ban in November 2020. losses, the lobster industry also lost many employees. Fisher Simon Rowe also pointed out that it ...

Source: Foodmate