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Seafood Industry News

Posted on August 3, 2015 by

China’s Burgeoning Middle Class Buying Up High Priced Lobster &King Crabs

SEAFOODNEWS.COM [Hexun] Translated by Amy Zhong – July 23, 2015

Chinese consumers in Oingdao are buying up high-priced, imported seafood this summer including Australian and New England lobsters and king crab.

According to reports, China’s burgeoning middle class is traveling in higher numbers and eating away from home more often. Consumers have showed greater demand in premium quality seafood, items that were once purchased as gifts or during special holiday occasions.

“Consumers used to buy these expensive seafood as gifts, but now many customers are able to purchase these seafood like lobsters to enrich their own dinners”, said a seafood wholesaler based in Qindao.

This demand has spurred interest for imported lobsters and king crab items. According to Chinese traders there is high demand for both Australian and North American “Boston” lobster imports. Some have hinted that local seafood shops may be passing off lower-priced Boston lobsters as higher-priced Australian rock lobsters since consumers are currently willing to pay the higher prices.

King crab demand is also up in the Chinese market with greater need for imports of the product from various suppliers.

“Seafood is an important selling point of different restaurants and most restaurants can provide their customers with the common seafood. So we tend to promote some expensive seafood to lure the high-end consumers”, said some restaurant owners in Qianqiao of Qingdao.

Reprinted with permission of Seafoodnews.com, www.seafoodnews.com