According to new trade data, the value of Canadian lobster exports topped $3.2 billion last year. This was the highest its ever been and was more than $700 million higher than pre-pandemic levels. The Lobster Council of Canada executive said “we had a very strong bounce back from the pandemic,”
The executive further explained the revenue came “as people ate premium protein that they bought in grocery stores. They wanted healthy food, they wanted safe food and they wanted a treat. So they buy lobster,” To compare the profit, Statistics Canada valued lobster at $2.5 billion in 2019. A large chunk of the revenue comes from China and the United States.
Live exports to the U.S. were $522 million in 2021, compared to $517 in 2019. Live exports to China were $454 million in 2021, down slightly from $457 million in 2019. The major change was in frozen and processed lobster sales to the United States. Frozen lobster was up $240 million and processed lobster imports to the U.S. were up $300 million.
For more information about the source click HERE