In 1997, European demand for eels could not be met for the first time ever, and dealers from Asia bought all they could. The traditional European stocking programs could not compete any longer: each week, the price for a kilogram of glass eel went up another US$30. Even before the 1997 generation hit the coasts of Europe, dealers from China alone placed advance orders for more than 250,000 kg, some bidding more than $1,100 per kg. Asian elvers have sold in Hong Kong for as much as $5,000 to $6,000 a kilogram at times when $1,000 would buy the same amount of American glass eels at their catching sites. Such a kilogram, consisting of 5000 glass eels, may bring at least $60,000 and as much as $150,000 after they leave an Asian fish farm. In New Jersey, over 2000 licenses for glass eel catch were issued and reports of 38 kg per night and fisherman have been made, although the average catch is closer to 1 kg.