Lobster set to rise

Lobster set to rise

Lobster prices along the South East coast are set to creep upwards in the coming weeks due largely to the impending Chinese New Year celebrations.

As more than 95% of the state’s lobster catch is exported to Asian countries, the 170 licence holders are set to do quite well out of the international celebrations to mark the start of the Year of the Dragon on February 10.

The retail price has been around the $95-per-kilogram mark for several weeks.

Mainland China banned the lucrative imports of Australian lobsters in 2020 but there are widespread hopes that normal trade relations will soon resume after high-level talks involving Trade Minister Don Farrell.

Although the 2023/24 season does not end until May 30, a number of licence holders have already caught their quota and returned to port.

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