Trade bans imposed by China over the past four years have cost family-owned South Australian lobster fishing enterprises up to $1.8m each.
Shadow Primary Industries Minister Tim Whetstone also believes licence holders with the minimum 40-pot allocation are out of pocket in this period by as much as $1.5m.
Mr Whetstone made the claims in a recent speech in the House of Assembly.
He called on the industry to continue to seek additional markets for the prized crustaceans and not solely rely on China.
Across the state, there are over 200 lobster fishing businesses and Mr Whetstone estimates 70% are family-owned.
Overall, Mr Whetstone estimates the gross state product has dipped by $400m due to the Chinese trade ban.
“The rock lobster industry is in a state of confusion,” Mr Whetstone said.
“At the moment, there is a ban that is going to be lifted by the end of the year. What does that mean?
“Let’s unpack what it means to an industry that has been on its knees for four years. The confusion is around the timing of when this ban will be lifted.
“We have to understand that this is a national issue; it is not just a South Australian issue.
“What it means to many of those fishing families is incredibly important – to understand the timetable, to understand when that ban will be lifted so they can actually utilise their best fishing times, utilise their individual quota.”
“We also have to remember the Chinese New Year festival kicks off on January 29 next year.
“We have to make sure that we can put some of the world’s best rock lobster on the plates and tables of our Chinese customers. The premium price will be realised.
“Currently, the price for rock lobster is around $61. That premium into China will see an additional $10 to $15 a kilo.
“What are we seeing to give surety that we do not put all the eggs into the China basket and see what we have just seen over the last four years?”
Meanwhile, Premier Peter Malinauskas said the recent announcement by Prime Minister Anthony Albanese to resume full lobster trade with China by the end of the year is welcome news for South Australia.
“It will re-open a major trade route for our South Australian lobster industry to our largest export market,” Premier Malinauskas said.
“This is welcome news and follows our significant and sustained efforts to re-engage with our largest trading partner.
“And importantly, will help our local businesses who offer some of the world’s best seafood such as Sky Seafoods at Robe.”
A prominent Adelaide retailer is currently selling cooked lobster for $89 per kilogram.
