A Brief History
Lobsters were regarded as "poor man's food," and there was no established market for the crustacean until they were canned and sent to feed the troops during World War Two. The American troops developed a taste for our lobster, and an export market into America began after the war ended and the fishery boomed. The lobsters were caught by fishermen from local Co-ops, and the lobster tail meat was sent to be canned by seafood processing companies for export.
Shortly after this time, Australians had also discovered that it was no longer only a poor man's food, and during the summer months, fishers would be able to catch lobsters for the holidaymakers staying in the towns all along the Victorian Coast. There would be a great procession of people waiting in lines outside the Fisherman's Co-ops to purchase a 'cray', and it became very popular.
Lobster markets then began to be developed overseas, particularly in Japan and Singapore. During this time, the price for lobster did not change much until China opened its doors to the western markets. China loved our lobsters, and demand for the crustacean soared. The lobster resembled the dragon, and with red being a lucky colour in Chinese culture, the Australian lobsters quickly became the epitome of success. Used for banquets during Chinese celebrations and weddings, it was a statement of wealth and success, and the Chinese market exploded.
When Australia and China entered the free trade agreement, it meant that the 28% import tariff was removed for exporting lobster into China. With the low Aussie dollar, the price of lobster soared to unbelievable prices. Sustainable fishing practices and quota management meant that the market could never meet the demand, and until the COVID outbreak, lobsters were fetching record prices.
COVID changed the world overnight. Countries were locked down. International and domestic markets were closed overnight. Unofficial bans on lobster imports into China meant that the lobster price was reduced to less than half. Fishers and the wholesalers struggled to move their product, and the domestic market flooded with lobster.
Now, Lobster fishers are a resilient bunch; although many have had their businesses and lives put through the wringer, most have withstood the events of COVID. Lobster fishers are re-inventing themselves by developing other markets, and although those record prices might be a thing of the past, their passion for what they do will always be present. Lobster fishers have never done what they do for the dollar but for the love of fishing and the lifestyle it blesses them with.
