State of Global Market for Shark Products

Shark Fins – A Global Snapshot

Take a closer look at the top importing and exporting countries in the shark fins trade.

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exporters
Top 15
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importers
Top 15
Historically, Hong Kong has been the most important trader of shark fins in the world, accounting for the majority of recorded imports and the world’s largest exporter since the late 1980s.
Hong Kong is the only customs territory that has historically had four separate commodity codes for frozen, dried, processed and unprocessed shark fins.
Based on national statistics, the vast majority of shark fins are destined for consumption in a handful of East and Southeast Asia markets such as China, Hong Kong, Taiwan, Singapore, Malaysia and Vietnam.
Based on new estimates, Thailand may now be the world’s largest exporter and its main trading partners—Japan and Malaysia—may be among the world’s top four markets for shark fins.
The world’s major shark fin exporting producers are Spain, Indonesia, Taiwan, and Japan.
In the case of fins in particular, the term “exporters” covers both primary producers such as Indonesia and Spain, whose vessels actually catch the sharks, and re-exporters, a role that may be further divided into pure traders, such as the United Arab Emirates, and processing traders such as China. This classification is helpful but not perfect, however, and most countries are involved, if only to a minor extent, in all three activities.

Hong Kong in fin trade

Historically, Hong Kong has maintained the most detailed and consistent trade records for shark fins.
Its primary role is as a trading center or port, and the processing industry is relatively small-scale.
From 2000 to 2011, Hong Kong recorded average annual shark fin imports of 10,490 t, worth USD 302 million.

From 2000 to 2011, Hong Kong recorded average annual shark fin exports of 6,556 t, worth USD 110 million.
Imports and exports in Hong Kong have peaked in 2003. Since the peak, fin trade levels have been considerably lower.
Thailand’s primary role in the world market for shark fins is as the major exporter of low-value, processed shark fins.
The source of the raw material for Thailand’s shark fin exports is not clear, as its domestic shark production would appear insufficient to account for reported quantities, and Thailand records minimal shark fin imports.
Per Thai statistics, Thailand exports mainly to secondary consumer markets such as Japan, the Russian Federation, the United States of America and Australia.
Indonesia ranks as the world’s top shark producer and third-largest exporter in terms of quantity.
From 2000 to 2011, it recorded average annual shark fin exports of 1,235 tonnes, worth USD 10 million.
Indonesia has changed the way it classifies shark fin over time which makes evaluating a trend difficult. Historically, it recorded trade in dried shark fins only, before adding two extra categories for "prepared or preserved" and "frozen" fins in 2009, and then subsequently removing the latter category (frozen) in 2012.
Indonesia’s imports are negligible and the extent to which its large domestic production is absorbed by the domestic market is not known.
China is historically the world’s foremost consumer market for shark fins and is also a major shark fishing nation, processing center and re-exporter.
According to it’s national statistics, China is the world’s second-largest importer by quantity.
From 2000 to 2011, China recorded average annual shark fin imports of 2,634 t, worth USD 14.8 million.

From 2000 to 2011, China recorded average annual shark fin exports of 1,196 t, worth USD 23.7 million.
China’s imports and exports of shark fins have declined dramatically since the early 2000s due to a combination of changes in demand, supply, and trading dynamics.
Taiwan imports relatively low-valued, unprocessed shark fins sourced from a diversified supply network of shark-producing countries, while Hong Kong is the major export destination.
From 2000 to 2011, Taiwan recorded average annual shark fin imports of 681 t, worth USD 5.9 million.

From 2000 to 2011, Taiwan recorded average annual shark fin exports of 1,114 t, worth USD 8.1 million.
From 2000 to 2011, Taiwan’s reported imports of shark fins rose while its exports remained approximately stable.

Hong Kong in fin trade

Historically, Hong Kong has maintained the most detailed and consistent trade records for shark fins.
Its primary role is as a trading center or port, and the processing industry is relatively small-scale.
From 2000 to 2011, Hong Kong recorded average annual shark fin imports of 10,490 t, worth USD 302 million.

From 2000 to 2011, Hong Kong recorded average annual shark fin exports of 6,556 t, worth USD 110 million.
Imports and exports in Hong Kong have peaked in 2003. Since the peak, fin trade levels have been considerably lower.
Singapore is a the second-most important trading hub for the world shark fin trade after Hong Kong, ranking as the world’s second largest importer and exporter in value terms.
From 2000 to 2007, Singapore recorded average annual shark fin imports of 1,583 t, worth USD 43 million.

From 2000 to 2007, Singapore recorded average annual shark fin exports of 1,218 t, worth USD 34.1 million.
Taking into account the gaps in available data resulting from the reclassification of shark fins, it appears that trade in shark fins through Singapore has been increasing.
Many of Malaysia’s imports are primarily low-valued, processed fins supplied from Thailand.
From 2000 to 2011, Malaysia recorded average annual shark fin imports of 1,172 t, worth USD 3.2 million.

From 2000 to 2011, Malaysia recorded average annual shark fin exports 238 t, worth USD 902,000.
Malaysian statistics show steady growth in shark fin import volumes in the last decade, but large discrepancies between volumes recorded before and after 2004 suggest that this may be a case of increased identification of shark fins in trade records rather than a real increase in trade quantities.
China is historically the world’s foremost consumer market for shark fins and is also a major shark fishing nation, processing center and re-exporter.
According to it’s national statistics, China is the world’s second-largest importer by quantity.
From 2000 to 2011, China recorded average annual shark fin imports of 2,634 t, worth USD 14.8 million.

From 2000 to 2011, China recorded average annual shark fin exports of 1,196 t, worth USD 23.7 million.
China’s imports and exports of shark fins have declined dramatically since the early 2000s due to a combination of changes in demand, supply, and trading dynamics.
Taiwan imports relatively low-valued, unprocessed shark fins sourced from a diversified supply network of shark-producing countries, while Hong Kong is the major export destination.
From 2000 to 2011, Taiwan recorded average annual shark fin imports of 681 t, worth USD 5.9 million.

From 2000 to 2011, Taiwan recorded average annual shark fin exports of 1,114 t, worth USD 8.1 million.
From 2000 to 2011, Taiwan’s reported imports of shark fins rose while its exports remained approximately stable.
Issues with data quality and reliability surrounding shark fin trade and shark capture statistics make it difficult to accurately quantify the relative importance of each individual producing country.
Some countries, such as Costa Rica, appear to produce shark fins from domestic fisheries and also act as important trading hubs for neighboring countries and foreign fleets fishing in the surrounding waters.
Since 2000, Hong Kong has been the world’s largest trader of shark fins, controlling the majority of global trade.

Shark Meat – A Global Snapshot

Take a closer look at the top importing and exporting countries in the shark meat trade.

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exporters
Top 15
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importers
Top 15
Markets for shark meat are generally more diverse and geographically dispersed than those for shark fins. As a result, there is considerable potential for expansion.
While global trade in shark fins has slightly decreased since the early 2000s, global trade data show trade in shark meat has been steadily increasing over the last decade.
The world’s largest consumers of shark meat are found in South America and Europe, particularly Italy, Brazil, Uruguay, and Spain. Republic of Korea is also one of the top importers.
Dominant shark fishing nations such as Spain and Taiwan also export large volumes of shark meat to their respective major markets in Italy and Brazil.
European countries, particularly Italy and France, show a preference for smaller shark species, such as various dogfish, although this is possibly influenced by sanitary regulations that prevent the import of larger shark species owing to high mercury content. North American fishermen, particularly those in the United States, land more dogfish (smooth and spiny) than any larger shark species, yet most of this catch is exported due to low domestic demand.
In contrast, demand in Asia as well as South and Central America appears to favor species that grow larger than dogfish, such as blue sharks.

taiwan in meat trade

Taiwan supplies the global market with large quantities of shark meat as well as shark fins.
From 2000 to 2011, Taiwan posted average landings of sharks, skates and rays of 43,869 t per year.

From 2000 to 2011, including overseas landings, Taiwan exported an average of 15,785 t per year, at a value of USD 18 million.
Species are largely aggregated, but increased species-specific Taiwanese reporting since 2007 suggests blue sharks, shortfin makos and silky sharks make up a sizeable proportion of the catch.
Spain exports shark meat mostly to major European markets, primarily Italy.
A large proportion of shark meat imports entering Spain comes directly off fishing vessels.
From 2002 to 2011, Spain recorded average annual shark meat imports of 14,077 t, worth USD 31.7 million.

From 2002 to 2011, Spain reported average annual shark meat exports of 15,608 t, worth USD 60 million.
In the past decade or so, Spanish shark meat imports have declined in parallel with an increase in exports, possibly owing to increased supply from its domestic fleet.
Uruguay has become a major importer, processor and re-exporter of shark meat in the last decade.
Uruguay saw rapid growth in shark meat imports and exports from 2005 to a peak in 2009 when it imported 21,717 t, worth USD 21 million.

And exported 17,223 t, worth
USD 33.9 million.
Uruguay produces steaks from headed, gutted and finned carcasses that are then exported to Brazil.
Argentina has historically been an important producer of skates and rays, with these species representing an average of 58 percent of Argentina’s annual shark landings of 37,991 t from 2000 to 2011.
Argentina exports skate and ray meat to a number of countries including Republic of Korea, China and France.
Argentina is the largest supplier of shark meat to the Republic of Korea, exporting an average of 5,720 t, worth USD 13.6 million, to the country from 2000 to 2012.
Although Japan’s shark landings have declined by about 90 percent in the past 60 years, the country is still a significant producer and exporter of shark meat.
From 2000 to 2011, Japan reported average annual shark meat exports of 4,434 t, worth USD 7.4 million.

From 2000 to 2011, Japan reported average annual shark meat imports of 998 t, worth USD 16.2 million.
Japan reports imports of relatively small quantities of very high- valued shark meat, at least some of which is likely to be shark fin (since Japan does not have a commodity code for imported shark fins).

republic of korea in meat trade

Korea is the world’s top market for skate and ray meat supplied by imports and domestic captures.
From 2000 to 2011, Korea recorded average annual shark meat imports of 20,656 t, worth USD 43.9 million.
Korea imports shark, skate, and ray meat from a wide range of countries, with the major proportion of skates and rays coming from South America, particularly Argentina and Chile.
Spain exports shark meat mostly to major European markets, primarily Italy.
A large proportion of shark meat imports entering Spain comes directly off fishing vessels.
From 2002 to 2011, Spain recorded average annual shark meat imports of 14,077 t, worth USD 31.7 million.

From 2002 to 2011, Spain reported average annual shark meat exports of 15,608 t, worth USD 60 million.
In the past decade or so, Spanish shark meat imports have declined in parallel with an increase in exports, possibly owing to increased supply from its domestic fleet.
Italy is one of the world’s largest consumer markets for shark meat, which is primarily supplied through imports from major European producers, particularly Spain .
From 2000 to 2011, Italy recorded average annual shark meat imports of 11,526 t, worth USD 34.8 million.
Italy imports mainly larger shark species, but historically there has also been significant consumption of small dogfish.
Italy’s import volumes have gradually declined in recent years, due mainly to a decrease in imports of dogfish.
In the past decade or so, Brazil has rapidly grown into one of the world’s main markets for shark meat.
From 2009 to 2012, Brazil’s imports of shark meat exceeded those of any other country at an average of 20,131 t, worth USD 39.9 million.
Uruguay has been a major supplier to the Brazilian market, re-exporting shark meat that is landed directly in Uruguayan ports, although its dominant position as a supplier has been diminishing in recent years.
Uruguay has become a major importer, processor and re-exporter of shark meat in the last decade.
Uruguay saw rapid growth in shark meat imports and exports from 2005 to a peak in 2009 when it imported 21,717 t, worth USD 21 million.

And exported 17,223 t, worth
USD 33.9 million.
Uruguay produces steaks from headed, gutted and finned carcasses that are then exported to Brazil.
Uruguay has been an important re-exporter of processed shark meat, and as a supplier to the rapidly expanding Brazilian market.
The Republic of Korea, imports relatively small quantities of “true” shark meat but accounts for the vast majority of world imports of skate and ray meat.
The global growth in shark meat is probably largely driven by the need to supply the increasing global demand for food.