ANALYSIS: Live Lobster Market Under Pressure Due to the Coronavirus
The onset of the coronavirus and the subsequent shut down of the Chinese market has had an immediate, negative impact on live lobster prices. Market prices for hard shell selects are trading 10.7% lower since January 20.
Canada has become the main supplier of live lobster to the Chinese market ever since the 25% US-China tariff went into effect in July 2018. As a result, Canadian live lobster sales to China have increased by 123% since 2017. However, with the...
To Read Full Story Login Below.