South Australian lobster exports have reached an all-time high in the past year, achieving a record-setting $94.7 million in sales. This huge increase, representing a 136 per cent rise equivalent to $54.6 million, has been significantly influenced by the resurgence of the Chinese market. The region’s fishermen and seafood enterprises have capitalised on the end of trade restrictions and a targeted government initiative, the State Government’s market diversification support package.
China was the predominant buyer of South Australia’s lobsters, with purchases exceeding $64 million in just the eight months following the late December lifting of trade embargoes. This increase came as the State Government introduced the $475,000 Seafood Export Growth Program in July 2024, aiming to prep local seafood businesses for the return of live lobster trade to China. The support package included access to trade advisers, facilitation of meetings with key international buyers, and funding for targeted marketing campaigns in China and Japan.
This made sure that the state’s lobster exporters were fully prepared to engage the market efficiently, coinciding perfectly with the peak demand period of the Lunar New Year.
The ripple effect of these heightened lobster sales increased the overall value of South Australia’s seafood exports to nearly $250 million, marking an impressive increase of over $100 million or 60 per cent from the previous year. While Japan has retained its position as the state’s largest seafood export market with a 90 per cent increase to $118.8 million, China has shown significant growth, multiplying its intake by over five times to $76.1 million.
Minister for Trade and Investment and Minister for Industry, Innovation and Science Joe Szakacs shared, “Our government acted early to ensure South Australian exporters were ready to move the moment trade resumed.
“Like with wine earlier and US tariffs since, we anticipated the opportunity this would present and backed our sector through the Seafood Export Growth Program so they could capitalise on renewed access to the Chinese market.
“We have the world’s best seafood, and this record year for lobster exports shows what happens when government and industry work in partnership to seize opportunities.”
The reinstatement of trade follows a period marked by Chinese restrictions that spanned over four years, significantly impacting various Australian exporters. The embargo’s removal came after the resolution of trade tariffs on other premium Australian products, such as wine and barley, in March 2024 and August 2023.
In addressing broader trade challenges, including US tariffs, the State Government has also rolled out a substantial $5 million program to assist all local exporters in diversifying their market engagement strategies.
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