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Trade Tracker: Lobster imports flat, exports up 20 percent

Canada the dominant lobster trade partner

July 01, 2013

One of the top 10 species imported to the United States, lobster has shown little growth so far this year, rising just 0.64 percent (both Homarus and Panulirus spp.). Lobster imports for the first four months of the year reached more than $212 million. Exports of frozen American lobster, on the other hand, have increased by nearly 21 percent from January through April this year. Most of this increase comes from rising demand for frozen lobster in Canada, which has increased 200 percent so far this year. 

The majority of lobster imports arrive from Canada (70 percent), followed by 7 percent from the Bahamas and 6 percent from Honduras. Live lobster imports increased 4 percent during the reporting period, while frozen imports decreased 3 percent. Lobster exports are also most commonly live, rather than frozen, albeit there was a recent increase of frozen exports earlier this year. Most lobster exports are destined for Canada, China and Italy. 

Canada is both a major source as well as destination for the United States’ lobster trade. In fact, 38 percent of all seafood imported from Canada is lobster. Likewise, 35 percent of all seafood exported from the United States to Canada is some form of lobster. 

Zepol Corp. of Minneapolis provides up-to-date U.S. trade data through several subscription tools: TradeIQ™ is a U.S. Customs import bill of lading database utilized to find information about competitors, suppliers, prospects and the products that they use, market, or transport. TradeView™ provides U.S. Census data to visualize the U.S. import and export market. ComplianceMonitor™ is a comprehensive tool that proactively alerts users of essential U.S. import trade compliance information. For more information, visit www.zepol.com.

Find other SeaFood Business articles discussing lobster here.

      July 2013 - SeaFood Business 

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