Shark fin sales, prices plunge in China

Want China Times, Staff Reporter 2014-08-20

A chef prepares shark fins for cooking, Aug. 6. (File photo/CNS)

Shark fin, a staple at official banquets and normally a hot commodity during the traditional peak season surrounding the Mid-Autumn Festival, is disappearing from plates after a government ban and rising awareness about shark conservation in the country, according to Beijing's Mirror Evening News.

Shark fin is not available in many of Beijing's dried seafood markets as restaurants no longer serve dishes using the ingredient.

After visiting 18 high-end restaurants, the reporter found that due to the Chinese government's ban on serving shark fin at official government banquets and receptions, more than 60% of these restaurants have removed dishes containing shark fin from their menus.

In addition, five among 16 fried seafood stores have suspended shark fin product offerings.

"Our store began suspending shark fin supplies last year and now mainly sells abalone and sea cucumber," the owner of a dried seafood shop stated, adding that however, sales for all three products have dropped by around 90%.

Shark fin was being sold for about 2,400 yuan (US$390) per 500 grams last year, compared with 3,000 yuan (US$490) in 2012. The prices have dropped to a mere 1,500 to 1,600 yuan (US$244-$260) this year, the owner added.

According to the owner of another store that continues to sell shark fin, shark fin sales have been slice in half this year.

Since late 2012, China has banned shark fin soup and bird's nest soup from official banquets, a move that was meant to cut back on extravagance in government spending and which would also result in significant environmental benefits. However, the ban also hit dried seafood stores, with six out of 16 such stores the reporter visited saying they have lost orders for shark fin from high-end restaurants.

In related news, figures provided by conservation group WildAid showed that sales of shark fin in Guangzhou, the trading hub for shark fin in China, have plunged by 82% over the past two years, while retail and wholesale prices have dropped by 47% and 57%, respectively.

A survey conducted by the group also showed that 85% of Chinese consumers said they have not consumed dishes containing the ingredient over the past three years, while 28.2% of them attributed the government ban to the ingredient's disappearance from restaurant dishes. 

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