Australian Prime Minister Anthony Albanese says China will resume importing Australian live lobsters by the end of the year.

Australian Prime Minister Anthony Albanese said China has agreed to lift restrictions on lobster imports by the end of the year, removing one of the last trade barriers imposed by Beijing during a period of tension between the nations.

Australia would be the likely winner from a shift in global canola trade flows should China impose tariffs on Canadian imports of the oilseed, but Beijing will need to overcome their worries about a fungus.