• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
RetailFood and drink

Baby eels are so valuable to Asian companies that Maine fishermen get $2,000 per pound for them

By
Patrick Whittle
Patrick Whittle
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Patrick Whittle
Patrick Whittle
and
The Associated Press
The Associated Press
Down Arrow Button Icon
May 27, 2023, 9:26 AM ET
Elvers
A fisherman holds baby eels, also known as elvers, in Brewer, Maine, on May 25, 2017.AP Photo/Robert F. Bukaty, File

Fishermen in the U.S.’s only commercial-scale fishing industry for valuable baby eels once again had a productive season searching for the tiny fish.

Recommended Video

Baby eels, called elvers, are often worth more than $2,000 per pound because of how valuable they are to Asian aquaculture companies. That makes them one of the most valuable fish species in the U.S. They’re raised to maturity so they can be used in Japanese food, some of which is sold in the U.S. in unagi dishes at sushi restaurants.

The elvers have again been worth more than $2,000 per pound at the docks this year, according to the Maine Department of Marine Resources. The fishermen are limited to a combined quota of a little less than 10,000 pounds per year and were about through it by early May, the department said. The price was a tick below last year’s, but higher than the previous two.

Fishermen this year have been aided by favorable weather and strong international demand, said Jeffrey K. Pierce, a former Maine state representative and adviser to the Maine Elver Fishermen Association. Foreign sources of baby eels have largely dried up, and that has made Maine eels more valuable in recent years.

“There’s a huge demand for it. They’re not getting a lot out of Europe,” Pierce said. “And it’s just a great product.”

South Carolina is the only other state in the country with a fishing industry for baby eels, and that state’s fishery is much smaller.

Maine fishermen harvest the eels using nets in rivers and streams every spring. Some fish in rural areas, while others harvest them in the state’s cities, including Portland and Bangor. They’re also harvested by members of Native American tribes in the state.

The worldwide industry for eels has been threatened by poaching for many years because of how valuable the fish are. Maine has adopted new controls in recent years to try to thwart illegal elver fishing and dealing in the state. Federal law enforcement has also targeted illegal eel dealing and fishing.

Still, illegal dealing persists. One study published this year by a research team led by the University of Exeter found that as much as two-fifths of the North American unagi samples they tested actually contained European eels, which are banned from importing or exporting.

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Authors
By Patrick Whittle
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Retail

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Retail

Food companies are finally cutting prices. PepsiCo shows it’s worth it
EconomyFortune 500
Food companies are finally cutting prices. PepsiCo shows it’s worth it
By Phil WahbaApril 17, 2026
1 day ago
Anita Beveridge-Raffo is Head of Retail and Consumer Goods at Palantir Technologies
CommentaryAI agents
Palantir exec: the biggest mistake retailers are making with AI? Trying to do it all with one agent
By Anita Beveridge-RaffoApril 16, 2026
2 days ago
Woman drinking coffee
AIConsumers
Starbucks wants you to ask ChatGPT about what coffee to get, right as America boils over with AI backlash vibes
By Tristan BoveApril 15, 2026
3 days ago
Gavin Newsom stands behind a podium with a piece of paper in his hands as people celebrate around him.
Economycompensation
Economists warned California not to raise the minimum wage to $20. They were wrong in almost every way so far, another economist says
By Sasha RogelbergApril 15, 2026
3 days ago
Trump’s economy officially passes Biden’s for worst consumer sentiment in recorded history
EconomyConsumer
Trump’s economy officially passes Biden’s for worst consumer sentiment in recorded history
By Nick LichtenbergApril 14, 2026
4 days ago
Donald Trump walks outside, putting a fist in the air.
PoliticsTariffs
Tariffs are the new normal, and now most CEOs expect the import taxes to outlast the Trump administration, PwC report finds
By Sasha RogelbergApril 14, 2026
4 days ago

Most Popular

Pope Leo warned the world is in ‘big trouble’ if Elon Musk becomes the first trillionaire
Success
Pope Leo warned the world is in ‘big trouble’ if Elon Musk becomes the first trillionaire
By Preston ForeApril 17, 2026
23 hours ago
A world going broke: IMF says America's $39 trillion national debt is actually a global problem—and AI may be the only rescue
Economy
A world going broke: IMF says America's $39 trillion national debt is actually a global problem—and AI may be the only rescue
By Nick LichtenbergApril 16, 2026
2 days ago
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
Environment
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
By Sydney LakeApril 15, 2026
3 days ago
Older millennials are starting to act like boomers in the housing market—and pulling away from the pack
Real Estate
Older millennials are starting to act like boomers in the housing market—and pulling away from the pack
By Nick LichtenbergApril 17, 2026
23 hours ago
Iran has reopened the Strait of Hormuz—but experts say it now holds a card that works ‘almost like a nuclear deterrent’
Energy
Iran has reopened the Strait of Hormuz—but experts say it now holds a card that works ‘almost like a nuclear deterrent’
By Eva RoytburgApril 17, 2026
16 hours ago
Germany already told its workers to ditch four-day weeks and work-life balance. Now the government wants to cut their pay for calling in sick, too
Success
Germany already told its workers to ditch four-day weeks and work-life balance. Now the government wants to cut their pay for calling in sick, too
By Orianna Rosa RoyleApril 16, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.