Home News S'pore is world's second largest shark fin trader, after Hong Kong: report

S’pore is world’s second largest shark fin trader, after Hong Kong: report




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Singapore, 26th May 2017—Singapore is the world’s second largest shark fin trader by value after Hong Kong according to a new report by TRAFFIC and WWF, who are calling on Singapore to improve transparency in the global shark fin trade through more robust monitoring.

The recorded value of the export trade was US$40million (S$50.4 million) for 2012–2013, a close second after Hong Kong’s US$45 million (S$57.2 million), while the corresponding figures for import values were US$170 million (S$215.4 million) for Hong Kong, with Singapore well behind but still second on US$51.4 million (S$65 million).

Analysis of Singapore-specific trade data showed that the country imported 14,114 tonnes of shark fin over a six year period from 2005–2014*. According to the report, The Shark and Ray Trade in Singapore (PDF, 3 MB), the country was also the world’s second largest re-exporter of shark fin after Thailand, accounting for 10% of the world’s total exports from 2012–2013, averaging 2,422 tonnes per year.

“Any country that dominates a particular trade has an extra responsibility to ensure it is transparent and traceable,” said Kanitha Krishnasamy, Senior Programme Manager for TRAFFIC in Southeast Asia. “Key to any effort aimed at enabling legal and sustainable sourcing, and long-term viability of shark populations, is the open availability of product-specific trade data.”

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In-depth analysis was hampered by a lack of detail in Singapore Customs’ import and export data, and the report recommends a number of changes in the way information is gathered. For example, Singapore Customs should begin recording shark data using detailed Harmonized System Codes (HS Codes), developed by the World Customs Organization for the classification of goods. TRAFFIC and WWF have been informed by the Agri-Food and Veterinary Authority of Singapore (AVA) that this is underway.

More detailed information will allow for distinction between dried and frozen shark products, which is critical for accurately determining actual trade volumes, and provide further insight into the species in trade—clearly vital information. Accurate, openly available information would also enable individuals and businesses to make responsible choices about which products they consume.

Sharks and rays found for sale in Singapore. Singapore’s import / export figures of rays reveals that there is high domestic demand.

“Support to reduce the consumption of shark fin has grown as more people and businesses now believe in keeping sharks off our plates and in the oceans. The fact that Singapore is a significant trader means that the solution to the global shark crisis lies right here on our shores. More robust monitoring of volumes and protected species will set a positive precedent for other countries and contribute to healthier shark populations and oceans,” said Elaine Tan, Chief Executive Officer of WWF-Singapore.

TRAFFIC and WWF have embarked on discussions with the AVA based on findings of the report, targeting the full implementation of product commodity codes for all 30 species of sharks and rays subject to international trade restrictions under the Convention on the International Trade in Endangered Species of Wild Fauna and Flora (CITES).

More than 70 million sharks are killed every year around the world, with many species caught at unsustainable levels. According to the IUCN Shark Specialist Group, nearly 25% of sharks and rays now face extinction, with overfishing for fins and meat the major drivers. Slow growth, late maturing and the production of few young further leave them vulnerable to overfishing and slow to recover from depletion.

* The reclassification of shark fins by IE Statlink, Singapore’s official statistics body, occurred twice in 2008 and 2012. Frozen shark fins were suspected to be combined with frozen shark meat in 2008 to 2011. A lack of accurate interpretation of those data limited a comprehensive ten-year trade analysis, and therefore detailed analysis focused over two consecutive periods over six years, from 2005 to 2007and from 2012 to 2014.

Report from Traffic.org.

About the report
The Shark and Ray Trade in Singapore is the first detailed analysis of the country’s role in the shark and ray trade, and provides a full picture of Singapore’s role in the shark fin and ray trade from source to market. It was conducted as part of the global WWF and TRAFFIC Shark & Ray Initiative.

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