China is set to become increasingly self-sufficient in breeding abalone, hitting imports from countries such as Japan, Australia and South Africa.
New breeding methods in the northeast province of Shandong saw abalone production increase by an extra 5 million by the end of November to a total of 30 million animals.
Farmers expect a harvest of 25 million abalone next May.
The town of Shicheng in Shandong started breeding abalone only four years ago, according to www.seafoodchina.com on Friday.
With investment of $30 million, breeding grounds covering an area of 91,000 square meters have been established generating an annual turnover of $22 million for this one town alone.
The production increase has brought wholesale price ranges for the prized shellfish in east coast cities such as Dalian and Hangzhou down to $37 to $44 per kilogram, selling for $44 to $73 a piece in expensive city restaurants.
China’s domestic abalone far undercuts the price of Australian imports, which cost between $145 to $290 per kilogram. The country is currently the largest exporter of the shellfish to China.
