Bil­lion

China Daily (Canada) - - TORONTO -

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),”

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