Canadian Lobster Export Prices to China Plunge as Spring Harvest Hits Peak!
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Canadian Lobster Export Prices to China Plunge as Spring Harvest Hits Peak!
On April 22, 2025, Canada's spring lobster fishing season officially opened, marking the full launch of the annual event in the world's largest producer of American lobster (美洲螯龙虾, Homarus americanus). As the first batches of hard-shell lobster gradually came ashore, dock prices in the two main production areas of southern Nova Scotia (Areas 33/34) fell significantly, dropping from CAD 15 per pound (about USD 10.84) to CAD 9 in just one week, a decline of as much as 40%.
According to Stewart Lamont, general manager of Tangier Lobster: "By early next week, live lobster inventories in Nova Scotia will show significant growth." More than 40 fishing areas have already entered operation, and total output for the season is expected to reach 35,000 tonnes.
At the same time, price fluctuations in export markets have also drawn widespread attention. Export prices to the Chinese market have continued to decline, with the price of lobster shipped to Shanghai falling from USD 14.54 per pound to USD 13.18 within two weeks, a drop of 10.3%. Geoff Irvine, executive director of the Lobster Council of Canada, noted that although the tariff factor is still difficult to assess at present, the market will become clearer from late April to early May as more fishing areas open.
The downward price trend is not limited to the Chinese market. The United States, as the largest buyer of Canadian frozen lobster (accounting for 80% of total exports last year), has also recently seen weak demand. In the U.S. wholesale market, the price of 1.25-pound hard-shell lobster fell from USD 16.25 per pound in week 14 to USD 12.75 in week 17, one of the largest declines among seafood products in the same period.
Industry experts point out that there are two key reasons behind the decline in Canadian lobster prices: first, China and the United States have each imposed tariffs of up to 25% on Canadian seafood products, weakening import willingness in the two major markets; second, the concentrated market arrival has brought a temporary oversupply, further intensifying price pressure.
Facing export challenges, Nova Scotia is actively expanding into emerging markets. Fisheries Minister Kent Smith said that companies in the province have reached cooperation agreements with new customers in the Philippines and are deepening cooperation with Spanish importers to explore a path of market diversification. Seller Sherry Osborne admitted: "Although sales are down about 70% compared with before, performance during this period is still reasonable, and prices in the past few years have been roughly the same."
The spring fishing season in southern Nova Scotia is about to end on May 31. As fishing enters its final stage, fishermen hope for a turnaround in the last stretch.
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