The squeeze on discretionary spending in China is affecting crayfish export prices. Photo / Alan Gibson
Crayfishers playing a waiting game in the hope demand from China will help prices rise to last year's levels may be waiting a long time.
That's the word from the country's biggest live lobster exporter, the Fiordland Lobster Company, based in Te Anau.
Some crayfishers are being offered $60 a
kg for their catch, so have decided to wait in the hope the price rises to the $80 they were getting last year. Three years ago it peaked at more than $100 a kg.
However, sales and marketing general manager of Fiordland Lobster David Prendergast said business had generally been "a lot harder" this year.
"The key thing is that the [Chinese] economy is showing signs of a slow- down and therefore the discretionary income in China to spend on high-value items may be cut back in all sectors, and obviously that will affect the demand for live lobster."
