Live rock lobster exports to China to resume, but seafood lovers will still be able to bag a bargain

Seafood lovers have enjoyed cheaper lobster during the festive period due to the China trade ban – but what does it mean for prices after news this week it’ll be lifted?

Seafood lovers are expected to still be able to enjoy lobster at an reasonable price this Christmas, despite the news of a resumption of trade into China.

Industry experts told The Advertiser prices look likely to remain around $85/kg heading into the festive season, before prices are likely to climb.

Prime Minister Anthony Albanese on Thursday said China’s Premier Li Qiang had promised the four-year trade ban would end in time for the Lunar New Year on January 29.

The 2020 ban on live Australian rock lobsters, worth about $700m a year, had seen prices drop from $130/kg to as low as $40kg.

Angelakis Bros seafood operations manager Alex Knoll anticipated prices to remain steady heading into Christmas.

“What I can initially see is the prices will remain fairly well to last year, maybe slightly higher, retailing for around 85-90kg,” Mr Knoll said.

Alex Knoll with some seafood goodies. Picture: Matt Loxton

“The China factor in the New Year may push retail prices up to the 100-120/kg.”

Mr Knoll said fishers and retailers had been waiting for this news and until lobster was caught in large numbers, the exact price would be unknown.

Andrew Lawrie, of Sky Seafoods in Robe, exported around 90 per cent of his product to China before the ban and was cautiously optimistic of this week’s news.

“We’ve had our government talking this up for a year and a half and we’ve been waiting, waiting, but the Chinese haven’t mentioned anything yet,” Mr Lawrie said.

“It does sound like this time it will happen as the government is adamant they’ve negotiated the deal. It’s definitely welcomed.”

Sky Seafoods owner Andrew Lawrie and commercial rock lobster fisherman Paul Regnier at the Robe Marina. Picture: Tom Huntley

Mr Lawire said the domestic market had been incredibly important to the sector during the trade ban and would continue to be when the ban lifted.

“We want to make sure our domestic market is looked after for Christmas and the New Year, because they’ve been our main stay for thee last three years,” he said.

“You’d hope there wouldn’t be too much of a (price) push above $85/kg, but it really depends when China decides to open. Even if it goes to 95/kg, it’s still affordable and good value.”

Ferguson Australia owner Andrew Ferguson had exported 98 per cent of their product to China, but had diversified the business since the market closure.

As well as new markets in US and Europe, the SA-based company offers year-round frozen lobster in the state’s independent supermarkets.

“We’ll be cautiously approaching this opportunity, it’s great to have China back as a market pathway, but we won’t be putting all our eggs in one basket,” Mr Ferguson said.

“We’ve put a lot of work into diversifying over the last four years.

“Over that period we’ve worked closely with the independent supermarkets and sent a lot of cooked lobsters to supermarkets, that sort of strategy has taken a while to evolve.”

The industry contributes more than 30 per cent of SA’s seafood gross product worth $158m, and creates more than 1300 jobs through direct and flow-on business, many in regional areas.

Originally published as Live rock lobster exports to China to resume, but seafood lovers will still be able to bag a bargain