Further preparing for potential increase in eel prices, Japan has already begun preparing. A stricter international regulation will take effect beginning in January. These regulations will impact the trade of eels sold at restaurants and supermarkets across the country, raising concerns about availability and cost.
Exporters are now required to submit documentation of export authorization. They must come with a comprehensive chain of custody documentation that traces the origin of any eels. That requirement stems from an international treaty born of the desire to protect wild flora and fauna. That’s because its purpose is to conserve endangered and threatened species, eels included. The Japanese market is completely dependent on imported eels. Such dependence could cause serious trouble in procuring this most favorite of delicacies.
These days, most broiled eel eaten in Japan is imported from China. While the expected regulatory changes will bring short term disruption, creating new shortages as all suppliers and exporters adapt to new documentation requirements, now industry experts are raising alarms that this unexpected jump in documentation requirements might prevent eels from being delivered on time. This extended timeline could increase costs for retailers and consumers alike.
The impacts of these regulations go far beyond mere supply shortages. The eel’s cultural significance to Japan only deepens the peculiarity of this situation. Eels are eaten in honor of summer festivals and is a common dish in many Japanese families. As prices spike because of impending shortages, families could soon have a harder time indulging in this delicious staple.
Given these recent developments, stakeholders in the eel trade are encouraged to take proactive steps to comply with future changes. Either way, restaurants will have to find other sources for eels or change up their menus. At the same time, consumers will either seek substitutes or reduce their own eel consumption. After the announcement, the period of adjustment will be difficult for the fishing and exporting industries as they live with and work through the new regulatory landscape.