The expanding market for lobsters in China is continuing to grow, with the country setting a new record for the value of its imports of the crustaceans from the United States. American lobster was almost unheard of in most of China until 2010, when the value of imports grew 250 percent to about $7.4 million. Last year, China imported more than $108 million in lobsters from America, surpassing the previous high of about $90.2 million in 2014, according to Bloomberg. “We’ve opened new markets in Asia, which is booming,” said Dave Cousens, president of the Maine Lobstermen’s Association. “Everything is clicking now.” Chinese importers took in more than 14 million pounds of U.S. lobsters last year, which was also a record. The previous high was about 13.1 million pounds the previous year.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved