export volume by China’s aquatic industry during the first seven months of this year for seven years and now plans to switch its focus from “live lobsters”, which make up 70 percent of its business, to frozen ones.
“Frozen lobster now make up to 30 percent of our operation,” Robin Dopico, president of the company, said at the Expo. “The price is more stable and it helps us withstand currency fluctuations amid a cooling global economy.”
China accounts for about 70 percent of D&D’s overseas business, so Dopico is concentrating on the longterm picture.
Even so, his company and the rest of the industry face issues that cannot be ignored. The government’s anti-corruption drive has hit the luxury consumer market, including sales of upmarket seafood produce.
“We suffered a 20 percent drop (in business so far this year compared with last year),”