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The Billion-Dollar European Caviar Business, Now Disrupted by China
In the kitchen of a Michelin three-star restaurant in Beijing, the chef carefully opens a tin of black "treasures." Each translucent caviar pearl inside is immensely valuable, with prices reaching as high as 10,000 RMB per kilogram. Yet this "black gold" caviar does not come from the Caspian Sea or the Volga River. Instead, it originates from Quzhou, Zhejiang, China. This seemingly impossible fact marks a silent revolution in the Chinese caviar industry.
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Research
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