Bumper catches, mounting pressure
Because of eels’ unusual life cycle, the eel fry used in aquaculture stocking can still only be obtained from wild catches. The four major eel-consuming markets in East Asia—Japan, South Korea, China, and Taiwan—have therefore agreed on annual aquaculture stocking limits for Japanese eel fry: 21.7 metric tons for Japan, 36 for China, 11.1 for South Korea, and 10 for Taiwan, for a total of 78.8 metric tons.
As a rule of thumb, one metric ton of eel fry can yield 1,000 metric tons of adult eels. Taiwan’s domestic market consumes roughly 3,000–4,000 metric tons a year. Han Yu-san says the current stocking cap far exceeds domestic demand: A reasonable level would be around five metric tons, and going much higher risks throwing supply and demand out of balance.
Over the past two years, bumper eel fry catches across East Asia have sent prices plunging. At one point, a single eel fry sold for just NT$5, the lowest price in 30 years. Eel farmers, clinging to the old practice of stocking every available eel fry, put the entire supply into their ponds. Stocking in Taiwan reached nine metric tons in 2025 (enough to yield about 9,000 metric tons of adult eels) and six metric tons in 2026 (equivalent to about 6,000 metric tons of adult eels). The result has been immense pressure on the market to absorb the surplus.
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Eels have a remarkable life cycle. Japanese eels, for example, are catadromous fish: They hatch in sea waters west of the Mariana Trench, the deepest ocean trench on Earth, then drift with the currents some 3,000 kilometers to Taiwan. From river mouths, they usually swim upstream and eventually mature in freshwater rivers. (MOFA file photo)