Price of ivory in China plummets after government crackdown

Man checking ivory products to be destroyed in Dongguan city, Guangdong Province. [Photo: Xinhua]

The wholesale price of raw ivory in China has fallen by almost two thirds in the past three years, with the average wholesale price of tusks plunging from USD 2,100 per kg in 2014 to USD 730 per kg by February this year.

The figures are revealed in a report 'Decline in the Legal Ivory Trade in China in Anticipation of a Ban,' produced by Save The Elephants, a non-profit organization. 

According to the report, all of the 34 licensed ivory factories in China will be officially closed on March 31st, 2017. 

Ivory products seized by Shanghai police in China. [Photo: Xinhua]

"Findings from 2015 and 2016 in China have shown that the legal ivory trade especially has been severely diminished." says Lucy Vigne, one of the drafters of the report.

In 2015, the Chinese government announced that the legal ivory trade would be phased out. The number of licensed ivory factories was reduced to 34 in 2015, while licensed retail outlets dropped to 130.

According to the report, all retail outlets in China will be shut down by the end of 2017.

Ivory has been carved in China for thousands of years. 

The burning of smuggled ivory at the Nairobi National Park in Kenya. [Photo: Xinhua]

Regarding the decline in wholesale prices of raw ivory in China from early 2014 to early 2017, the report details several driving factors.

The Chinese government's strong determination to shut down the domestic legal ivory trade, an economic slowdown, and a crack-down on corruption have resulted in the decline. Meanwhile, public awareness campaigns have also helped people realize the negative impact of their buying, says the report.

The burning of smuggled ivory at the Nairobi National Park in Kenya. [Photo: Xinhua]

"This is a critical period for elephants. With the end of the legal ivory trade in China, the survival chances for elephants have distinctly improved. We must give credit to China for having done the right thing by closing the ivory trade." says Iain Douglas-Hamilton, President and Founder of Save The Elephants. 

"There is still a long way to go to end the excessive killing of elephants for ivory, but there is now greater hope for the species." He added.