In China, abalone is served at fancy banquets and sold at high prices in retail markets. But the situation has changed as abalone prices have dropped significantly since last year due to a slowing economy, overproduction and pollution.
Chinese abalone farmers could not even recover their costs this year. The retail prices of abalone dropped nearly 30 percent from last year, and now the price for one abalone is only about 3 yuan ($0.43), China’s Central TV (CCTV) reported on Nov. 28. In terms of per unit price, it is similar to that of Chinese cabbage.
