Trends in the Market Price Value of South African Game Animals over the Last 31 years

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Abstract
There is a growing recognition within national policy that South Africa's wildlife economy holds the potential to contribute to both socio-economic development and biodiversity conservation. Recent policy initiatives outline a broad strategy aimed at guiding the country's biodiversity economy, emphasizing the importance of enhancing the sustainable use of wildlife to promote socio-economic growth and transformation. However, the efficacy of these proposed strategies and policies in achieving the dual goals of biodiversity conservation and economic development largely hinges on the behaviour of markets. Game price data present a unique opportunity to investigate the dynamics of one crucial market within this economy: the trade of game animals. Here we use game auction and international trophy hunting data to assess variations in market price trends of game animals between 1991 and 2022. Additionally, we analyse the number of game animals sold and hunted, as well as the frequency of exports, to understand the potential drivers of these trends. Our findings reveal that auction prices for plains and high-value game animals exhibited a gradual increase from 1991 until 2012. However, between 2015 and 2017, these prices experienced a sharp rise, followed by a considerable decline from 2018 onwards. The number of international trophy hunts showed a gradual upward trend with notable declines in 2020. Variations in market price trends highlight the necessity to investigate potential drivers of such fluctuations. Our work carries significant implications for policy development and decision-making processes, and for the effective management of wildlife to achieve conservation objectives.

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