Western rock lobster price falls due to a drop in China demand, cheaper American exports

The value of premium species of lobster sourced from Western Australia has plummeted, causing the lucrative industry to grind to a near halt. The western rock lobster ‘beach price’, which is the price professional fishers receive direct from processors, has slumped to about $50 a kilogram. Compared to six months ago, the price has shed about 30 per cent of its value. Mark Rutter is the general manager of marketing and business development at the Geraldton Fishermen’s Co-operative, which is the largest processor and exporter of rock lobsters in Australia. “It’s very hard to pinpoint exactly what’s driving the prices but certainly we are experiencing very low prices … in a recent historical sense,” he said. continue reading the story here 11:36