Eastern rock lobsters caught and tagged on the Mid North Coast of NSW. (Supplied: Wallis Lake Fishermen's Co-op)
In short:
Australian rock lobster prices have risen 15 per cent after China trade reopened.
Seafood is equated with abundance in China, and is a popular choice for Lunar New Year celebrations.
What's next?
Lobster fishers are waiting to see whether the market will remain steady after Lunar New Year.
For the first time since 2020, Australian rock lobster is on the menu for those celebrating Lunar New Year in China, after trade restrictions were lifted in December.
Those in the industry say the end of the trade ban, combined with the holiday period, has created the strongest domestic market since the ban was imposed.
Lobster fisher Noel Gogerly, who operates out of Tuncurry on the NSW Mid North Coast, said prices on the Australian market were up 15 per cent compared to last year.
Tuncurry lobster fisherman Noel Gogerly has welcomed the increase in demand and price. (ABC News: Lauren Bohane)
"Normally around about October we see the prices come back a bit when South Australia start catching big quantities of lobster but it didn't seem to have that effect this year," he said.
"We just seem to have seen a steady price all the way through."
After four years of restricted trade with China, the boom has come at a welcome time, according to Mr Gogerly.
"The first year when they did close China we had a fair slump and it didn't seem to want to pick up," he said.
Noel Gogerly pulling in a catch bound for the Sydney Fish Market. (Supplied: Wallis Lake Fishermen's Co-op)
"New Zealand lobsters, exactly the same lobster, were getting unbelievable prices, we're talking up to $200/kg.
"Down in Tasmania, we heard stories where lobsters were only $40-45, it wasn't even worth untying the boat to go to work."
Australia's peak body for commercial fishing said it was not just Australian fishers who had welcomed the lift of the ban.
"Australian lobster is very well regarded in the Chinese market and having the opportunity to buy up before this very important celebration was important for the Chinese importers as well," Seafood Industry Australia CEO Veronica Papacosta said.
"The nice timing of the Chinese Lunar New Year is that we've just come out of our Christmas and peak trade period which was quite successful for the lobster fishermen as well so it's a good way to get them back on track."
Popular holiday choice
In Sydney's Chinatown, Tong Li Supermarket manager Lee said eating seafood was one of many traditions at Lunar New Year.
"Most of the seafood, like [lobster], they have a higher value, expensive price, so for us to buy seafood during the festival means we can get rich in the next year."
At the Sydney Fish Market, demand skyrocketed ahead of the holiday.
Adam Mourad says demand for lobster has skyrocketed this year. (Supplied: Sydney Fish Market)
"We're on track to do double the volume than what we did last year heading into Lunar New Year," Chief Commercial Officer Adam Mourad said.
"We're also seeing slightly higher pricing this year than what we did last year, so not only are we selling more but there is a better return than what they were getting last year as well."
Boom may be short-lived
However, Mr Gogerly was concerned the end of the holiday period may see prices drop once again.
"It's just a little bit hard to tell at the moment whether the local Chinese New Year has helped to stabilise the price," he said.
Seafood shoppers wait in line outside a fish market in Chinatown. (ABC Rural: David Claughton)
He said lobster sales generally dropped off as budgets tightened in the wake of the holiday season.
"February can become not a real good market … because everybody's back at work, everybody's starting to see the size of the debt they've got on their bank cards," he said.
Ms Papacosta was confident the market could "find the balance" between good prices for lobster fishers and consumers.
Eastern rock lobsters ready for sale. (Supplied: Wallis Lake Fishermen's Co-op)
"The response to the trade ban was that we did move some lobster at cheaper prices, but I think most Australians value Australian seafood," she said.
"We want to provide that beautiful fresh product at the right price — the one that keeps fishermen fishing and means that consumers can still enjoy Australian seafood."
