Seafood prices in North Korea began to collapse almost immediately after the international community imposed strict new economic sanctions, including a ban on seafood exports, on a defiant regime that tested two inter-continental ballistic missiles in July.
On Monday, North Korean fresh squid were being offered for barely a third of their value last week, and even then “nobody wants to buy it,” said Cui Yanzhi, a Chinese businessman who operated a seafood processing plant in north-eastern North Korea.
Following the sanctions vote this weekend, he has now shut the plant down and is scrambling to empty it out, bringing as much as he can across the border to Hunchun, a thriving Chinese trading town with dozens of seafood markets selling North Korean goods.
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“We have to rush,” he said. Chinese customs officials had not yet formally received notice …