Tag Archives: China market
Can we really break the China habit?
China is a hard habit to break.Even after its early mishandling of the coronavirus disrupted the country’s ability to make and buy the world’s products, further exposing the faults of its authoritarian system and leading it to ratchet up its propaganda war, China’s economic power makes it the last best hope for avoiding a protracted global downturn.“When this all started, we were thinking, Where else can we go?” said Fedele Camarda, a third-generation lobster fisherman in western Australia, which sends most of its catch to China. “Then the rest of the world was also compromised by the coronavirus, and China is the one getting back on its feet.”“Although they’re just one market,” he added, “they’re one very big market.” >click to read< 10:56
Once stymied by China tariff, lobster dealer finds a workaround
Tom Adams, CEO of Maine Coast lobster wholesale company in York, said he’s found ways to make up revenue that was lost when a 25% tariff was implemented last July on imports of lobster to China. The tariff has taken a bite out of his company’s sales, Adams said. Previously, China had been Maine Coast’s fastest growing market, but the tariff eliminated 80% of Maine Coast’s sales to mainland China. Overall, the value of live Maine lobsters exported to China dropped 64% in July 2018, compared with July 2017, industry experts said last year. China now gets most of its lobster from Canada. Adams told Mainebiz an aggressive marketing campaign has resulted in significant sales increases in other parts of Asia and in the U.S., and in retention of European sales even though that market was also disadvantaged by an 8% tariff over Canadian competitors. >click to read<21:29
140,000 live Canadian lobster sold to China in 24 hours
Chinese buyers snapped up more than 140,000 live Canadian lobsters within 24 hours last week through a Beijing-based online retailer, and the demand can only grow, says a New Brunswick supplier. The live lobsters came from a variety of sources for the sale July 14 on jd.com, one of the largest e-commerce websites in the world. According to a news release from the company, the surge in lobster purchases was part of a sale promoting fresh food from Canada, which also included cherries and blueberries among the offerings. click here to read the story 10:30
