Revealed: See how much lobster could cost you this Christmas

With belts tightened this festive season, Christmas crayfish could be off the menu if China lifts a trade ban that would lead to price rises ahead of the festive season.

The price of lobster could rise to more than $100/kg by Christmas if China lifts a three-year trade ban on the seafood delicacy.

Prime Minister Anthony Albanese is currently in Shanghai to discuss trade talks with Chinese President Xi Jinping.

Retailer Stamati Elias of Jimmy Elias & Son Seafoods said lobster had been “affordable” for consumers over the past three years but if the ban lifted the price could reach more than $100/kg.

“While the trade has been closed, the rock lobsters were sort of at a reasonable price and affordable for consumers,” Mr Elias said.

“We have sold more lobsters in the past three years during the ban due to the process being affordable.

“If the ban lifts and there is a strong demand from China, the price will increase and once it reaches over the $100/kg, there will be less demand for lobsters and we won‘t sell as many.”

Over the past three years, the average price per kilo for rock lobster has been anywhere from around “$60 to $80”, with prices expected to go above $100/kg if the ban lifts.

However, Mr Elias if the ban was lifted it would be a “good thing for fishermen”.

Professional fisherman and seafood business owner, Simon Rowe. Source: Supplied

Fisherman Simon Rowe said if the trading ban was lifted it would be “welcomed” by all who caught and sold it in the industry but professed he wouldn’t hold his breath.

Since China black-listed the importation of Australian lobsters in November 2020, Mr Rowe said the industry had suffered immensely with many fishing businesses losing employees and “barely breaking even”.

On Saturday, he told the Sunday Mail many professional fishers in SA who caught and sold lobster would welcome the news but they have had their hopes up before.

“I mean, it would be good because everyone is battling in the industry at the moment just to get by and just hanging on and keeping their head above water,” he said.

Stamati Elias with his sister, Kerry McGorman of Jimmy Elias & Son Seafoods. Source Supplied

“Everyone is hoping, but as it is, hope is just an emotion so you sort of gotta hope that they work out a deal.

“To sum it up, we’re all looking for something, but I think, when you’ve sat there for three years hoping, you tend to say, ‘we’ve heard this all before’, but until it happens, then you’ll see the smile on people’s faces.”

Chief Executive of Seafood Industry South Australia, Kyri Toumazos Source: Supplied

Seafood Industry SA chief executive Kyri Toumazos said the industry would “embrace” its “biggest trading partner” China but paid respect to local markets who supported lobster sales during the ban.

“At the same time, we want to be a diversified industry that looks after our local market that has extensively supported us over these three years of pain,” he said.

“So, yes, having China on board is important, but we are very cognisant and very respectful that the local market has supported us strongly over the last three years

“So, we will ensure that we support them back in that same way.”