Exports from a major Tasmanian salmon producer are finding a new home away from China, in response to Beijing’s 2020 trade war against Australia. Huon Aquaculture made the decision early last year to diversify from China, with the onset of the trade dispute reinforcing the company’s direction, according to an investor announcement (pdf). “Increased diversification into new markets, including the United States, has resulted in spot exports to China declining to around a third of total export tonnage with further reductions expected,” the announcement said. “Sales volumes contracted through various international retail channels have grown by around 80 percent, despite the strengthening Australian dollar during the period.” The announcement also noted “particularly strong gains” through Australia’s domestic channel, despite the hard COVID-19 lockdowns in Victoria. Michael Shoebridge, director at the Australian Strategic Policy Institute (ASPI) said Huon was joining a growing list of companies and industries looking to end their …
Tasmanian Salmon Exports Swim to New China-Free Markets
February 4, 2021
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AustraliaAustralia-China tradeChinaChina Business & Economyeconomic coercionHuon AquacultureInternationalSalmonWorld
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