By: Staff Writer
July 9, 2024
The Asian market has been a steady reason why shark meat and bi-products have been in high demand from the Latin American and Caribbean region to Asia says a report from the International Fund for Animal Welfare (IFAW).
The report, “Meat on the menu and fins for export: Latin America’s shark trade with Asia,” said that while trade for shark products has expanded over the decades, particularly shark fins, an increase in demand for shark meat has risen exponentially.
The report also said: “Fins are utilised primarily in the preparation of soups and other dishes in East Asia, consumed at weddings and other celebrations. Shark fins can be extremely high value, with prices ranging significantly depending on quality and shark species. Overall, fin size determines the price, with a single large, processed fin reaching up to USD $846 per kg in Hong Kong SAR.”
The report continued: “Meat is consumed around the world. The price of shark meat varies depending on species, region, and where in the supply chain the product is sold. For example, prices can range from less than $1 per kg on a beach in Mexico to $24 per kg on the retail market in Australia.”
The report also said: “From the period 2003–2020, the LAC region was found to be a consistent source of shark-related products for shark trade hubs Hong Kong SAR, Singapore, and Taiwan province.
“From all reported sources globally, a grand total of 188,369 metric tons of shark-fin related products were reported in imports into Hong Kong SAR, Singapore, and Taiwan province combined, with an annual average of 10,465 metric tons. The LAC region contributed 15.66 percent equivalent to 30,608 mt of the total reported imports, averaging 1,700 mt per annum over the studied period. The percentage of the LAC region’s imports was quite steady between 2003 and 2016. The percentage declined to a low of 7.65 percent in 2019 and rose back up to 11.38 percent in 2020.”
Costa Rica was the largest supplier of shark meat to the Asian market, equating to some 5,613 metric tons to Hong Kong, Singapore and Taiwan.
The LAC is seen as “key players,” in the shark meat trade, the report noted, and supplies a “significant proportion,” of shark fin and shark meat to the Asian market.
Considering the decline in shark numbers in the region, the report advocated that: “Effective communication channels between government departments of key trading partners should be established for the sharing of information on suspect shipments. This would allow exporting countries to flag to importing countries any suspicious shipments that would require special attention for inspection at port, or for importing countries to return information to exporting countries on illegal shipments received to trigger and inform their local investigation for possible organised criminal activities.”
The report also said there needs to be an improvement in trade data record keeping, which will facilitate capacity in long term trade monitoring so that the illicit trade of shark meat can be curtailed as much as possible.