STAG News Bites: 🤝China access update; 🦞FAO Lobster report; 🐚China abalone prices

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. 

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🤝China: Live Lobster access update

The recent visit by Premier Li Qiang, while successful in maintaining the trajectory of improving bilateral Australia-China ties, did not result in the restoration of access for Australian live rock lobster to the China market. This was disappointing.  

 However, in the last few days, the General Administration of Customs China (GACC) has communicated to the Department of Agriculture Fisheries and Forestry (DAFF) a potential pathway to address China’s concerns and resume trade. This comes after a delegation of senior DAFF officials visited Beijing in early June for technical discussions on the issue, ahead of Premier Li’s visit.  

 Industry representatives are now working with DAFF to provide a detailed response to China’s specific proposals. While we are optimistic the issues can be resolved, there are some points of contention and the process of negotiating a solution may take some time.  

 DAFF officials have pledged to travel to Beijing as soon as practicable, after submitting a written response, to work through any outstanding issues with GACC directly.  

We are conscious of the ongoing severe stresses in the industry and will continue to work with  Australian government officials and parliamentarians to resolve this issue as a national priority. We will provide further updates as soon as we have new information to share.  

 For further information or to discuss the lobster trade with China, please do not hesitate to contact: 

 Matt Taylor: 0438 855 863 

Tom Cosentino: 0450 040 634 

Nathan Maxwell McGinn: 0409 680 731 

🦞FAO: Lobster report

The Food and Agriculture Organization (FAO) has released a new market update on lobster. While the report is focused mostly on North American fisheries and  homarus species, there is useful information on the China market, including this optimistic assessment: 

“In 2023, China accounted for 45 percent of Canada’s total live exports of lobsters and other species, amounting to 53 998 tonnes. The main reason for this development seems to be that Chinese consumers are eating more lobster. There is a growing middle class with good spending power in China, and lobster has always been high on the list of the most popular luxury seafoods.” 

Read the full report here. 

🐚China: A new normal for farmed abalone prices? 

Netease commentary on abalone prices, noting developments in breeding and farming technology that have led to an unprecedented abundance of this once exclusive and rare seafood item. With low prices not going anywhere, consumers are being exposed to abalone like never before. Value-added products and effective marketing of wild-caught abalone may offer an opportunity for Australian exporters to achieve premium prices over farmed domestic Chinese competitors. 

Read more here (Chinese). 

✈️China: Airfreight seafood imports growing

In the last year, STAG News Bites has been covering the proliferation of chilled seafood airfreight routes into China. Continuing the trend, this report from Shenzhen News Network says: “the import of deep sea caught chilled aquatic products through Shenzhen airport has seen a substantial increase”. 

Read more here (Chinese). 

Similar reporting from Chengdu here (Chinese). 

🏪China: Salmon specialty stores

A new seafood retail and consumption trend is gaining momentum in China: Salmon specialty stores.  

“These specialty stores are like "butcher stalls", except that the staff cuts the salmon on the spot, and you can take it away or eat it in the store…. these salmon specialty stores have salmon as their main product, and also sell fresh-cut marine products such as Arctic sweet shrimp, tuna, and crayfish. By demonstrating the cutting process on site, consumers can be more assured about the freshness of the ingredients.”  

“In the past, salmon was mainly sold as a single item in Japanese restaurants and sushi restaurants. Now, there are not only a number of salmon specialty stores, but also chain brands. According to Red Can Big Data, the number of branded stores has exceeded 300.” 

Read more from The Paper here (Chinese). 

A seafood specialty stall "Global Seafood Experience Store" (source: The Paper)

📺Taiwan: Lobster Abalone feast (video)

Have a look at the latest lobster and abalone fine-dining on Taiwan’s restaurant scene in this mouth-watering video (Chinese). 

📈Vietnam: Seafood exports robust

Reflecting strong demand in key markets like the EU, USA, and China for Vietnam’s seafood products, “exports earned over $4.4 billion in the first six months of the year, marking a significant growth of 7% compared to the same period of 2023, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).” Read more from vneconomy.vn here. 

📉EU: Live homarus prices down

According to Undercurrent News, “Wholesale prices for live lobster from Canada and Northern Europe have hit the lowest level since late 2018 in France's Rungis market.” Read more here (login required). 

📊Norway: Seafood exports weaker

According to The Fishing Daily, “A weak Norwegian krone and high prices for cod and salmon boosted value in the first five months of the year. However, the growth stopped in June, which is largely driven by falling salmon prices.” Read more here. 

🎪Asia: Top seafood wet markets

Have you ever wondered which are Asia’s best seafood wholesale markets? Have a look at this list from Tatler Asia and wonder no more! 

Noryangjin Fish Market in Seoul, South Korea (Photo: William Warby/Unsplash)

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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.