SEAFOODNEWS.COM [Bandao] translated by Amy Zhong – May 24, 2018

Qingdao recently received a batch of Russian king crab with a total weight of 2.3 tons, and these king crab are distributed to seafood markets all over China shortly after customs clearance.

Qingdao’s tariff rate of live king crab dropped from the previous 14 percent to the current 7 percent at the end of 2017. This new regulation is beneficial to seafood importers, said Shao, the deputy general manager for Shangdong Oriental Seagull Trading, the importer of these king crab. Shangdong Oriental imports about 100 tons to 200 tons of king crab every year and now it can save nearly 1 million yuan (~$157,000 USD) on a yearly basis with the new rule.

The tariff reduction is also good news for consumers and China’s average domestic price dropped about 10 yuan per kg (~$1.57/kg USD). In addition, there has been an obvious increase in China’s demand for king crab since the tariff rate was lowered. The import volume of Shao’s company in the first quarter of this year was 1.5 times what it was during the same period last year.