A new lobster season is underway in parts of the Maritimes, and while fishermen anxiously wait to see what prices they’ll reap, exporters are instead looking east.
They’re scrambling to keep up with the demand from Asia, and trying new tactics to get their product to the emerging market.
While the large quantities being caught make prices low for fishermen, exporters selling live lobster to China can barely keep up with the demand.
Live lobster exports out of Halifax have grown by 428 per cent in five years and there’s potential for further growth, said Jerry Staples, vice-president of air services marketing and development for Halifax Stanfield International Airport.
That’s thanks to a recent agreement signed by the federal government, removing tariffs from live lobster exports to the U.S., he said.
At the Halifax airport on Monday, crews loaded up a Korean Air Cargo plane with live lobster.
Flights like this one fly directly to Asia, getting there as much as half a day earlier.
It’s the latest development in marketing Maritime lobster in Asian markets, and it makes for a fresher, better-quality product.
“Those extra 10 to 12 hours make a huge difference on the quality, and what you can do with the lobster once it lands in China, where it can go to be marketed,” said Mike Wolthers, an exporter with Kinetsu World Express Inc.
The European market remains strong, with demand peaking at Christmas.
The Asian market is stronger, and China is booming.
Demand there peaks at the same time as firecracker sales, at Chinese New Year.
“The middle class has got money, and they want a premium product like lobster,” said Wolthers.
Meanwhile, industry insiders are hinting at new developments coming soon in live lobster exports.
With files from CTV Atlantic’s Ron Shaw
