SOUTHERN rock lobster prices have peaked in recent days as demand builds for the long-awaited Chinese New Year period.
Considered the industry’s busiest time of the year, Robe’s Sky Seafoods proprietor Andrew Laurie said the premium product sourced from Limestone Coast waters had reached over $100 per kilogram last week.
“I would say it has jumped around 10 to 20pc up from what the price was during Christmas time,” Mr Laurie said, revealing the current price was in-line with previous years.
“It is all relative, if the price is down when coming towards this period for whatever reason, you would expect it to spike again during Chinese New Year which is the market’s biggest celebration.
“It is rare not to (spike), unless we push too high and from that you can get a backlash from the market.”
Mr Laurie said a majority of the Southern Zone’s 1245.7 tonne Total Allowable Commercial Catch had already been caught since the season opened in October.
“A few have kept room to move during this time, so you would expect the prices to remain reasonably strong for the rest of the season,” he said.
“It may come back a couple of dollars.”
With 180 licences in the Southern Zone Commercial Southern Rock Lobster Fishery and around 11,882 available pots spread across those licences, Mr Laurie said the industry had to be careful not to oversupply the market.
“We have seen in recent years, the catching can be so good and we have to be careful to leave enough stock over Chinese New Year,” he said.
“A lot of fishermen have finished along the coast, but some have left the little bit … roughly it is around 50pc each way.
“If we oversupply we then fall to risk of becoming a budget product.”
Mr Laurie said competition among exporters drove prices up higher than what they should be.
“They just want to keep their customers happy, which are mainly served in China,” he said.
So far, Mr Laurie said the peak period of the season had been relatively “pain-free”.
“We begin preparing for this time of the year before the season has even begun and I think we are prepared for the market’s busiest period,” he said.
“If we do not, we are in danger of losing the share of our premium product.
“The margins are lower than what we would expect during this time of the year due to competition.”
Reflecting on the season so far, Mr Laurie said the average lobster size was larger than normal.
“We are not getting many smaller catches from down south, but the market at the moment is demanding the bigger catches for Chinese New Year,” he said.
“That will stop, but our catching is suitable for the market during this time.
“We are seeing a lot more bigger female lobster around and they are by far the highest percentage of lobster being caught at the moment … roughly around 70pc.
“We are really noticing in the factory females are outnumbering the males.”
With southern rock lobster considered a delicacy by the Chinese culture, Mr Laurie said seafood was a staple of the population’s diet.
“To them, if it is alive it shows them it is fresh so that is why they demand it,” he said.
“They are not so keen on frozen where as a lot of other countries do not mind it.
“They also like our lobster because they are red and they come from cold waters, so the flesh is considered a little bit sweeter and it is nice and crisp.
“It is not like some of the warmer shellfish which their flesh is stringier or chewy.”
The Chinese New Year is officially celebrated on January 25 with the public holiday lasting for seven days from January 24 to January 30.
The lobster fishing season will close on May 31.
