23 Feb 2021

ChinaTip #0572

The demand for seafood during Chinese new year is strong and prices rise.

In China, the Spring Festival is the peak season for seafood consumption, and this year is no exception, from online stores to offline stores, the market demand for seafood products is strong.

Meanwhile affected by the epidemic, the supply of imported seafood has been greatly reduced, and the cost of nucleic acid testing and disinfection, have impacted the final price of imported seafood during the Spring Festival.

Chinese consumers are increasingly demanding high-end dishes, so higher-priced seafood such as lobster, grouper, and king crab has become the choice of many families. The prices of these products have increased significantly. In the supermarket a king crab can be sold for 1299-1599 yuan and Boston lobster is 300-400 yuan.

The demand for ordinary seafood such as shrimp and fish, whether live or frozen, has also greatly increased. In the days before the holiday, the price of these products continued to rise, with the increase of about 30% for some products such as live shrimp and crab.

However, as the Spring Festival holiday is coming to an end, the prices of some products have begun to fall. It is expected that with the end of the Lantern Festival, market prices will fall overall.

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Categories: General

Tags: Chinese New Year, demand, imported seafood, Lantern Festival, prices

The demand for seafood during Chinese new year is strong and prices rise.

This post was written by: Lily - Senior Analyst

Lily - Senior Analyst

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