Japan, the world’s largest market for eel, can expect to see prices rise for broiled eel as expected trade bans start coming into effect. Almost all of the eel eaten in Japan is from China. New regulations are poised to further disrupt this supply chain. Starting in January, tougher international shipping rules will go into effect. These rules will make exporting eels more burdensome and could lead to a shortage of product in the Japanese market.
These upcoming rules are the result of a treaty concerning the trade of wild animals and plants. Their mission is to help others practice sustainability. Under the new requirements, export permission and proof of origin must be provided for all traded eels. As a result, some of the eels currently sold in restaurants and supermarkets throughout Japan will now fall under these more stringent regulations.
The potential impacts of these changes are enormous for consumers and businesses alike. And the demand for eel is skyrocketing—particularly in restaurants and kitchens on both coasts. Retailers and restaurateurs must reconsider their pricing strategies given the likely impending supply shock. The legislation’s implementation changes may increase costs as importers adjust to the new import mandates at great expense.
Conservationists warn that the effect of these new regulations on the eel market could be extensive. The majority of the eel consumed in Japan originates from China. If we experience just a minor blip in the supply chain, the competition for the available stocks will be intense. Such a scenario would lead to increased costs for customers who value historical eel flavors.
Additionally, the need for further documentation is in itself a departure from the previous manner in which wild fauna were procured internationally. Whether through an increased focus on environmental sustainability or responsible trade practices, the enforcement of these regulations provides insight into the current state of our world. Stakeholders in the eel industry will need to adapt to these changes to ensure compliance and maintain their market positions.