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Thursday, June 8, 2017

Ivory Prices Drop in Asia Following China's Ban

Ivory Prices Drop in Asia Following China

Anew, as yet unpublished research by the Wildlife Justice Commission shows that the price of raw ivory in Asia has fallen dramatically since the Chinese government announced plans to ban its domestic legal ivory trade.

However, poaching has not dropped yet, according to the Guardian, which has seen the research.

Undercover investigators from the Wildlife Justice Commission have been visiting traders in Hanoi over the last three years. In 2015, they were being offered raw ivory for an average of $1,322 per kg in 2015, but by October 2016 that price had dropped to $750/kg, and by February this year prices were as much as 50% lower overall, at $660/kg.

Of all the ivory industries across Asia, it is Vietnam that has increased its production of illegal ivory items the fastest in the last decade, according to the non-profit Save the Elephants.

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