Wholesale lobster prices along the South East coast have crept upwards to $105 per kilogram owing to the resumption of trade with China and the international Chinese New Year celebrations to mark the start of the Year of the Snake on Wednesday (January 29).
A premium price is paid for the larger lobsters while the smaller ones are attracting $80 per kilogram.
Retail prices have headed up as well with one Adelaide retailer charging $29 for a raw frozen half weighing 200g.
Industry insiders expect the demand and wholesale prices to drop tomorrow (Friday) as the major overseas orders will be filled.
Last month, the beach price for lobsters fluctuated from $50 to $85.
Many dollars can be saved if you are willing to purchase direct from licence holders, are willing to accept “seconds” (minus a few legs) and can cook them yourselves.
One enterprising Beachport professional fisherman has been offering discount prices if shoppers are willing to accept these conditions.
Mainland China banned the lucrative imports of Australian lobsters in 2020 and it lasted for four years.