China’s appetite for lobsters is continuing to rise, driving imports from the United States to a historic high, Bloomberg reports. Most Chinese had barely heard of American lobsters until 2010, when the value of imports jumped 250 percent to about $7.4 million…Full Article: China Daily Mar 2017
- As of early 2017, China’s middle class population was estimated at 240 million (18% of total population). This population is forecasted to rise to 400 million by 2020.
- From 2015 to 2016, Chinese imports of American lobsters increased from 13.1 million pounds [5,942 MTs] to 14 million pounds [6,350 MTs].
- In 2015, approximately 160,000 MTs of lobsters were fished, of which, roughly 55% to 60% were American lobster (Homarus americanus). American lobster is colloquially known as “Boston Lobster” (波士頓龍蝦) in the Chinese market.
Hong Kong Trends