We have seen two very major changes in the glass eel business over the last 30 years: the first in the early 1970's and the second in the 1990's. Both involved significant market adjustments.
In the 1960's there was a boom very similar to that of the 90s. In this period Japan - not China - imported large quantities of European glass eels partly to support a reducing local supply but mainly in the hope of exploiting the considerable difference in glass eel price between A. japonica and A. anguilla. European prices of glass eels escalated, glass eel traders made optimistic business plans, and for three years the glass eel suppliers were driven by a kind of schizophrenia as the market experienced all time highs and lows. However, an increase in supplies of local glass eels, along with the failure to succeed in culturing the European species in the preceding three years, effectively ended the Asian business overnight. In England, all producers except