China has become the world's largest production hub for truffles, foie gras, and caviar, significantly driving down prices and allowing more families to savor these delicacies of the West, according to East Week magazine, a sister publication of The Standard.
Russia and Iran previously dominated the production market for the ingredients. However, with overseas bans on large-scale wild sturgeon fishing coupled with the mainland's development of high-end aquaculture technologies, China has taken the lead with slashed prices on lush ingredients.
Sturgeon Dragon Technology, a fish farming company, has even gone public on the Hong Kong stock market, its price soaring more than 50 percent on its first day of trading after being 2,100 times oversubscribed.
Last year, the caviar producer reported revenue of approximately 770 million yuan (HK$890 million) and a net profit of 365 million yuan. China accounts for about 60 percent of the global total in caviar production, with Sturgeon Dragon Technology driving this number and earning founder Wang Bin the name "Caviar King."
Sturgeon Dragon Technology's farming base located in Quzhou City.
In the 1990s, Wang researched the artificial breeding of sturgeons during his work with the Chinese Academy of Fishery Sciences. He later realized that breeding sturgeons requires cool water temperatures – hence, lowering aquaculture cages to the depths keeps the business alive in the south.
A long farming cycle also raises caviar prices. Female sturgeon take about seven to 15 years to mature for roe harvesting. Not backing down from the challenge, Wang secured a deal with Lufthansa in 2011, supplying caviar for the German airline. This breakthrough brought Wang's caviar to Michelin restaurant tables.
When it comes to global foie gras production, China accounts for around 45 percent, with Huoqiu and Linqu becoming primary hubs. The mass production of this locally enjoyed dish has reduced prices in the mainland, bringing costs to only a few dozen yuan. Huoqiu has even launched ready-to-eat products such as cherry foie gras and foie gras ice cream for many to feast on.
Cherry foie gras ready to be savored in a dish.
Yunnan and Sichuan have become main sites of truffle production. Market research shows that the average price of French black truffles is over US$700 (HK$5,460) per kilogram, while Yunnan black truffles average just over US$80 per kg – a nearly eightfold difference.
Although China has reshaped the global supply of these three delicacies, producing white truffles is still a challenge to conquer. Northern Italy and Croatia remain the prime locations for harvesting them. Time will tell if this is to change.
