Panama Police seize more than six tonnes of shark fins that were reportedly headed to Asia

In Panama, authorities have confiscated over six tonnes of shark fins that were reportedly en route to Asia, and five individuals have been arrested in connection with the illegal trade. Shark fins are considered a delicacy in certain cultures and fetch high prices in the Asian market, with a kilogram reaching up to $1,000.

Attorney General Javier Caraballo, speaking at a press conference, revealed that the majority of the seized shark fins were already dehydrated and prepared for export.

During the operation, the police discovered a pistol with an expired permit, as well as bank transfer documentation related to the illicit trade. They also uncovered a storage and packaging facility used for processing the shark fins.

The arrested individuals will face charges related to crimes against collective security and the environment. Authorities suspect that the shark fins were being transported from Panama to a Chinese individual who allegedly financed the operation.

Shark fin soup, a popular dish in East Asia often served at weddings and high-end banquets, is a significant driver of the demand for shark fins. Cultural beliefs in countries like China and Japan associate shark fin consumption with health benefits, such as anti-aging properties, improved appetite, memory enhancement, and increased sexual desire.

The trade in shark fins has severe consequences for shark populations. Estimates suggest that between 63 million and 273 million sharks are killed annually for their fins and other body parts. In many cases, fishermen engage in the cruel practice of finning, where they remove the shark’s fins and discard the still-living animal back into the ocean, leading to suffocation or death from blood loss.

The illicit shark fin trade is estimated to be worth around $500 million each year. Efforts to combat this trade have gained momentum, and at the Panama summit on international trade in endangered species held in November 2022, a resolution was adopted to protect an additional 54 shark species, dealing a blow to the lucrative shark fin market.

Panama has been actively involved in international initiatives aimed at protecting endangered shark species and combating the illegal trade.