STAG News Bites: 🖥️SIA webinar; 🤝Australia-China relations; 💹China seafood market

Some of these articles are in foreign languages and can be automatically translated on Google Chrome. 

Note: These articles are a round-up of news media in key seafood markets. The information is provided as part of our market intelligence service to Australian seafood exporters. The views expressed in the media articles are not those of the STAG and are in no way endorsed by us. 

Click here to subscribe and receive STAG newsletters each week! 

🖥️SIA: Exporter one-stop-shop webinar 14 February

Seafood Industry Australia (SIA) has launched a comprehensive one-stop-shop curated for Australian seafood exporters: ExportingSeafood.com.au. 

Join SIA for a webinar about the website on Wednesday, 14 February 2024 at 1:00 pm – 2:00 pm (AEDT). Register here.

🤝Australia-China relations: Dr Yang Hengjun 

Australian writer Dr Yang Hengjun has been given a suspended death sentence for national security-related crimes by a Chinese court. 

Lowy Institute senior fellow Richard McGregor told the Sydney Morning Herald Dr Yang's sentence would likely have a "severe impact on bilateral relations". Read the article here. 

Lee McLean, chief executive of the Australian Grape and Wine Association, told the Australian Financial Review that the wine industry considered the wine tariff issue to be separate from Dr Yang's case: "I think both sides understand in their relationship with China that different issues will arise from time to time. But from our standpoint, we have reached a tariff review agreement with China and that agreement remains in effect. We certainly hope that this will lead to a positive outcome for us." Read the article here (paywall).

🐟China: Seafood imports in 2023

Yuyipai provides a summary of recent statistics on the performance of China’s seafood import market. Imports increased by only 1% in 2023, significantly slower than in previous years, but still reached a record US$19.33 billion. The author suggests China remains on track to replace the USA as the world’s top seafood market in coming years. 

According to the summary: “Boston lobster imports surged 42%, while prices dropped 10%. But rock lobster imports fell by 38% and prices increased by 13%. Boston lobster's growing popularity as an affordable luxury item in China has fueled a surge in demand and prevented prices from falling. But restrictions in Western Australia and New Zealand have affected rock lobster import volumes and prices.” 

Read more here (Chinese). 

💹Asia: Spring Festival update

The Spring Festival / Lunar New Year period has arrived. A time for enjoying time with loved ones and, most importantly, feasting! Seafood has a special place on the banquet table, with fish used as a symbol of abundance, meant to give a good start to the new year. 

This year is the year of the dragon, adding another association with seafood - the spiny lobster, with its fearsome dragon-like whiskers and auspicious red colour. A news report from CCTV looks at the popularity of "dragon"-related products, such as Australian lobsters and dragon fish here (Chinese-language video). 

The Paper writes that China’s wholesale prices for lobster have almost doubled, with New Zealand product the most expensive. An industry expert commented: “Previously, we estimated that the price of lobster would rise by about 20%-30% in the week before the Spring Festival. The actual situation is that due to the holiday effect and the impact of Spring Festival flights, the price of seafood increased 10 days in advance, and the price increase was generally higher than expected. Very high." Read here (Chinese). 

People’s Daily reports from Beijing on the growing role of imported products in satisfying Spring Festival demand, citing the journey of New Zealand rock lobster to market: “At 8:50 p.m., a batch of fresh lobsters with a total weight of 754 kilograms was shipped and took off at Auckland International Airport in New Zealand; at 5:10 a.m. the next day, the batch of lobsters landed at the Capital Airport; after arriving at the Capital Airport Customs Inspection Center, the customs The whole process takes less than 20 minutes for the staff to check the cargo certificate, open the box for inspection, and quarantine and release; before 12 noon, these lobsters can be put into the fish tanks of the Beijing-Shenzhen Seafood Market.” Read more here (Chinese). 

An article from China News examines the changing Spring Festival consumption habits of the post 90s generations here (Chinese). 

In Singapore, Zaobao has visited the seafood market to gauge consumers' attitudes towards Japanese products this year: “Many merchants selling seafood said in interviews that the overall price and sales of Japanese seafood have declined slightly this year. Customers are generally more concerned about the issue of seawater discharge. However, various factors such as exchange rates and economic expectations also affect the Japanese seafood market.” Read here (Chinese). 

In Malaysia, seafood sellers report the market is slightly lower than usual. Read here (Chinese).

Seafood in Beijing's Xinfadi market is hot selling. Photo by Peoples Daily reporter Liu Ping

🦞USA: Lobster sales and size limits increase

Seafoodsource.com reports that US lobster sales surpassed pre-pandemic levels in 2023, with exports to China, Hong Kong, and Vietnam fueling  growth in the sector. Read more here. 

Meanwhile, authorities have rules that size limits will increase: “Currently, U.S. fishermen must throw back any lobster that has a carapace (the hard shell extending from the eyes to the end of the tail) measuring under 82 millimetres. In January 2025, that will increase to 84 millimetres, and it will go up another two millimetres in 2027.” Read more from CBC here. 

📊Seafood marketing

An interesting look at three seafood species that achieved popularity because of marketing schemes, including lobsters — “considered a poor man's meal and the "cockroaches of the sea" back then — were often used for fertilizer, fish bait, and even prison food.” Read more from Business Insider here.

🌴TRL: Is it the king of lobsters? 

Chinese blogger ‘Spicy Temptation Kitchen’ puts forward an interesting thesis: ‘...in the lobster world, the top one is not Australian lobster, but Splendid lobster.’ Read the post here (Chinese).

The Splendid Lobster. Photo by Spicy Temptation Kitchen

🦐Honduras: Spiny lobster industry

Learn more about the lobster production of this Central American country, along with some of the challenges it faces here. 

📺Global Seafood report video

3MMI has released a new global seafood trade report, with a special focus on tuna. Watch on Youtube here.

The STAG is funded by partners:

www.seafoodtradeadvisory.com

The Seafood Trade Advisory Group (STAG) is jointly funded by the Australian government and the fishing industry. We receive funds from the Fisheries Research and Development Corporation (FRDC).which is a statutory authority within the portfolio of the Federal Minister for Agriculture, Water and the Environment. 

 Any information provided in this STAG publication is general in nature. Before acting on any information provided, you should consider its appropriateness to your individual circumstances and business objectives.