Conservationists have attributed a dwindling demand for shark fins to China's crackdown on corruption which has forced a decline in lavish banquets.
"We are seeing a reduction in demand from China. Hong Kong is also showing a significant decline in consumption," said Angelo Villagomez, a shark specialist with US-based conservation group the Pew Charitable Trusts.
Villagomez was in the Marshall Islands to discuss shark sanctuaries with leaders at the Pacific Islands Forum, the annual summit of Pacific heads of state.
However, he said the decline in shark fin demand over the past year was not directly linked to increasing shark protection by Pacific island governments.
Instead, it was related to the Chinese leadership's crackdown on graft and extravagance.
"It's not to do with conservation. It's related to a Chinese government anti-graft crackdown, which has cut back on dinners where shark fin soup was featured on the menu," Villagomez said.
"The culture is [also] changing in Asia among younger people. They aren't eating shark fin soup as much."
Historically, high demand in the Asian market has fuelled shark-finning on commercial tuna vessels in the Pacific.
But finning is slowly being shut down as the number of islands legislating shark sanctuaries grows.