According to SeafoodNews on May 19, the Natio
nal Development and Reform Commission of China announced that it will indefinitely suspend all activities under the f
ramework of the China-Australia Strategic Eco
nomic Dialogue. This is another major move taken by China after China restricted the im
port of lobster from Australia in November 2020, which will have a significant impact on Australia's lobster industry and other aspects.
China was o
nce one of Australia's largest im
porters of lobster, and the bilateral free trade agreement signed in 2015 has greatly promoted the trade between the two countries. According to statistics, in 2019 and 2020, 90% of Australia's spiny lobsters were export to China. However, with the announcement of major buyers in May this year, these lobsters encountered huge obstacles.
Compared with 2019, Australia's lobster exports to China fell by 80% in November 2020. During the epidemic, the country’s lobster industry gross product value (GVP) fell by 25% to US$544 million. According to a government report, 11,000 tons of lobster will face huge challenges.
In respo
nse to this situation, reports claim that Australia has been working hard to stimulate domestic co
nsumption of lobster, and there may be other Asian buyers. A fisherman and exporter in South Australia said that now more efforts are needed in marketing, and they are looking for buyers of frozen lobster in Australia, the United States and Europe.
However, it is still difficult to make up for the losses caused by the departure of major Asian buyers. Asian buyers can not o
nly buy a large number of lobsters, but also express a preference for live lobsters with higher profits than frozen lobsters.
After China issued a ban in November last year, the lobster industry in South Australia has collapsed, lobster prices have fallen sharply, and a
bout one-third of workers have lost their jobs.
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