According to CCTV Finance, seafood prices generally rose during the Spring Festival. After the Spring Festival holiday, the price of seafood dropped in many places, and the price of some high-end seafood even dropped by nearly 50%.
According to the wholesale market, prices of some imported high-end aquatic products have dropped dramatically after Chinese New Year. The prices of king crabs, lobsters, and crabs have generally fallen. The tiger grouper has dropped from RMB 90 during the Spring Festival to RMB 50 now.
Merchants said that the high-end seafood they sell is usually mainly for restaurants and hotels, but during the Spring Festival, many citizens also come to buy it. The market demand is relatively large, so the price rises dramatically.