China's ban on Australian rock lobsters is expected to be lifted by the end of the year, Prime Minister Anthony Albanese has announced.
The welcome development was announced yesterday following a meeting between Prime Minister Anthony Albanese and Chinese Premier Li Qiang on the sidelines of the ASEAN summit in Vietnam.Here's what it means for Australia.Australia's rock lobster exports to China were worth about $700 million a year before Beijing enforced the ban.
This had left lobsters as the last major industry that remained locked out of the huge Chinese market.The body representing the western rock lobster commercial fishing industry admits the timing of Thursday's announcement came as a pleasant surprise. "I don't think there's going to be a magic switch that gets us up and going to the level it was at," Mr Suckling said.ABC News: Chris LewisHe said WA had a volume advantage over competing markets in South Australia and New Zealand in terms of supplying the lucrative Chinese market.
"In the past, when the stars align, you have really big catches and really high prices, so that could be just unbelievably good news for fishermen that's for sure," he said.WA was previously the nation's biggest supplier of lobster to China, exporting more than 5,500 tonnes, worth more than $448 million, in 2018-19.
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