Beluga caviar is caviar consisting of the roe (or eggs) of the beluga sturgeon Huso huso. The fish is found primarily in the Caspian Sea, the world's largest salt-water lake, which is bordered by Iran, Azerbaijan, Kazakhstan, Russia, and Turkmenistan. It can also be found in the Black Sea basin and occasionally in the Adriatic Sea. Beluga caviar is the most expensive type of caviar, with market prices, at the beginning of the millennium, ranging from $7,000 to $10,000/kg ($3,200 to $4,500/lb).

The beluga sturgeon is currently considered to be critically endangered, causing the United States Fish and Wildlife Service to ban in 2005 the importation of beluga caviar which originated in the Caspian Sea and Black Sea basin. In 2006, the Convention on International Trade in Endangered Species (CITES) suspended all trade made with the traditional caviar-producing regions of the Caspian and Black Seas (Beluga, Ossetra and Sevruga), (Azerbaijan, Bulgaria, China, Iran, Kazakhstan, Romania, Russia, Serbia and Montenegro, Turkmenistan, and Ukraine) due to the producing countries' failure to apply international regulations and recommendations. Caviar from Iran is exempted from the ban. Iran is considered by CITES to practice effective conservation and policing of its fisheries. In January 2007, this ban was partly lifted, allowing the sale of 96 tons of caviar, 15 percent below the official 2005 level.

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