Fisheries Economics

The relationship between the instantaneous mortality rate (Z) and the instantaneous change in length-frequency distribution of organisms per unit of animal size (μL) takes the following form: Z = μLk(L∞ − L) + k, where k and L∞ are coefficients of the von Bertalanffy equation, and L is organism size (length). Z and μL change coherently when they are measured for a specific size or age class. Therefore, observations of μL can provide information on the relative changes in mortality. This is useful when no precise information about animal growth is available and growth curve is assumed to be invariable.
  This method was tested on a heavily exploited population of mango tilapia (St Peter's fish) Sarotherodon galilaeus in Lake Kinneret. Fishing mortality was a major factor controlling the size and age distributions of the tilapia in the lake. The large increase in fish mortality between 1998 and 2002 and a concurrent decline in fish catches indicate intense overfishing. The overfishing was triggered by the decline in water level in the lake, as the low water level resulted in an elimination of the main sheltered spawning areas for tilapias, exposing spawning adults to fishermen. The reduction of the catches of S. galilaeus prompted fishermen to increase fishing efforts in subsequent years. Over the past few years fishermen used progressively smaller mesh sizes in their nets to compensate for the reduction in catch and maintain income level. Such uncontrolled fishery led to continuous depletion of standing stock and annual catches of tilapias.
  Analysis of the changes in the length-frequency distributions showed that the changes in μL over multiple years estimated for fully exploited fish reflected the respective changes in Z.

... Figure 1 illustrates the complications dif-ferential skills provide for fishery regulation. Panel (a) of the figure shows the effort supply curves for two distinct categories of fisher-men: Good fishermen S and less productive fishermen S. Fishermen in each category are identical, and ...

Two species of grey mullets, Liza ramada and Mugil cephalus, are annually introduced in Lake Kinneret (Israel). Both species do not reproduce in the lake. Growth rate of M. cephalus is notably faster than growth rate of L. ramada. Analysis of introduction and commercial catch statistics showed that 27-28% of introduced fish of each species are landed. This information allowed calculating the average specific natural mortality rate (M, year^-1) of both species over the period between their introduction and landing. For L. ramada the M  was -0.39 year^-1 and for M. cephalus the M  was -0.30 year^-1. Computation of economic efficiency of fish introduction, which took into account the species specific growth rate, age structure in catches and market price, showed that M. cephalus has notably greater outcome per similar number of introduced larvae than L. ramada. Potential ecological role of grey mullets in the lake is discussed.

The tuna fishery is an important sector in Ghana. In 2009, total landing of tuna in Ghana represented about 24% of total catches in the East Atlantic. Canned tuna is Ghana's most important non-traditional export commodity in terms of foreign exchange earnings. The ...

ABSTRACT Recreational fisheries around the world provide humans with important economic benefits because people derive well being from participating in the act of fishing. Many of these benefits are difficult to value, however, because they are nonmarket in nature and depend on ‘free’ ecological services. Other sectors of society may also depend on these public goods. It is difficult to exclude people from using public goods and there is, therefore, a tendency for them to be under-produced by the private sector. Thus, there is often a need for government policy intervention to ensure the adequate production of public ecological services and resolve conflicts over their use. Policies that affect recreational fisheries have costs and benefits, both for anglers and people in other sectors of society, that must be accounted for if social well being is to be maximized. Economics can be used to quantify the costs and benefits of various policy options available to society, and make recommendations that improve overall economic efficiency. Overall well being (welfare) consists of the sum of ‘surpluses’accruing to producers and consumers. In this chapter, we outline the principles of economic cost-benefit analysis of market and nonmarket values for recreational fisheries using examples from various jurisdictions. We also consider how economic analysis can be used to account for the transaction costs of fisheries management – costs often borne by society as a whole – for different forms of governance.

Fishing share systems that distribute ‘fishing surplus’ among crew are widespread in global fisheries. One recent analysis identifies the New England ‘lay’ share system as a form of ‘non-capitalism’ because of the way that surpluses are shared (St Martin 2007). Through ethnographic, historical and economic analysis of Scottish commercial nephrops trawler fisheries, this paper demonstrates that fishing share systems are adaptable to the exploitation of labour. While share systems seem to have their origins in shared ownership of fishing boats and gear, it is the present lack of this link in Scotland that has created the conditions for labour itself to become a commodity and share systems to function as a variable and casual wage. This paper argues that the dependence of the fishery on commodity production and its reliance on labour as a commodity makes it fully capitalist, even in the presence of a share system, and explores the social and ecological consequences of the development of these more conventionally capitalist class relations.

This study examined the determinants of household expenditure on major food items viz: staples, meat and meat related products (fish and eggs), beverages and all food items, analyse the income elasticities of demand for all the food items and investigate the marginal propensity to consume (MPC) on the various food items and make policy recommendations based on the findings of the study. Primary data were collected from 179 households using a set of structured questionnaire. The data were analysed using ordinary least square regression (OLS). Results obtained from the analyses showed that the major determinants of household consumption expenditure on foods were found to be income, household size and educational level of household head. Only meat and meat related products were found to be income elastic (ey = 2.529). Other categorise food classes were income inelastic.  The marginal propensity to consume meat and meat related products was highest (0.33) while beverages had the least M...

Small-scale fisheries make key contributions to food security, sustainable livelihoods and poverty reduction, yet to date the economic value of small-scale fisheries has been poorly quantified. In this study, we take a novel approach by characterizing post-landing trends of small-scale fisheries resources and estimating their total economic value, including both commercial and subsistence values, in a remote rural region in Madagascar. We construct annual landings and characterize gear and habitat use, post-landing trends, fishing revenue, total market value, costs and net income, profitability, employment and dependence on small-scale fisheries. Our results show that the small-scale fisheries sector employs 87% of the adult population, generates an average of 82% of all household income, and provides the sole protein source in 99% of all household meals with protein. In 2010 an estimated 5524 metric tons (t) of fish and invertebrates were extracted annually by small-scale fishers i...

SUMMARY Marine reserves are widely considered to potentially benefit reef fisheries through emigration, yet the empirical basis for predicting the extent of this for small reserves is weak. The effects of fishing pressure and habitat on biomass and catch per unit effort (CPUE) of three species of exploited reef fish were studied at South Caicos, Turks and Caicos Islands. Distribution and abundance of hogfish (Lachnolaimus maximus) and white margate (Haemulon album) were inversely correlated with cover of fleshy macroalgae. Nassau grouper (Epinephelus striatus) were positively associated with vertical relief, but were unaffected by algal cover. Mean size, density, and biomass of hogfish were higher in a small (4 km 2) marine reserve than on fished reefs, as was biomass of white margate. CPUE of hogfish was inversely related to distance from the centre of the reserve, suggesting that spillover of this species from the reserve to adjacent reefs may enhance local yields, possibly providing economic incentives for fishers to comply with reserve regulations. Fishing pressure, however, had no apparent effect on Nassau grouper. Larger fishes and those that migrate to spawn, such as economically valuable Nassau grouper, may move over too large a range to be effectively protected by small marine reserves. Small reserves may not protect all fish, but they can increase the biomass of smaller or more sedentary reef fishes and may be a useful tool for the conservation or management of species such as hogfish. Other policy options, such as seasonal spawning closures or total allowable catches, need to be considered for larger, more mobile fishes in the Turks and Caicos Islands.

This research aims to identify problems and indicators as the foreground for arranging development pattern for aquaculture business, to recommend direction and target for regional government’s policies in anticipating the development of aquaculture business as a potential that needs integrated management, and also to recommend possible core business to be expanded. Data are collected from general condition in the location, spatial utilization pattern (land/waters), human population, intraregional and interregional movement of goods and services, identification of aqua-cultural core business potentials, market identification and analysis, intraregional and interregional local market, investment opportunities, sociocultural condition including institutional, business pattern, consumption, income per capita, transportation system, number and distribution of facilities and infrastructures, as well as internal aquacultural facilities.  The methods used for data collecting include surveys and interviews related to the core business planning for aquaculture in Indramayu. The data are then analyzed using Space Factor application intended to map business optimalization by identifying the condition, position, or problems in business (strengths, weaknesses, opportunities, threats) to formulate the next strategies. SWOT Analysis is used as the tool and results in catfish farming places in IFAS point (3.01) and EFAS (3.03) while vannamei shrimp farming places in IFAS (3.43) and EFAS (2.80) indicating that those farmings may be potentials in overcoming weaknesses and obstacles in the future. Core business strategy planning is composed using matrix space. Though vulnerable to various threats, aquaculture businesses still have strengths in internal scope. The suggested strategy for this is to use strength in using long-term opportunities by implementing diversification (for products or markets). Vannamei shrimp farming falls into this category. It is also suggested for the business to minimize company’s internal problems in order to seize better marketing opportunities. Catfish farming falls into this category.

This study focuses on the price formation mechanisms and was conceived due to the crucial nature of the Adriatic small pelagic fish market. It covers several aspects of the market, although those specifically connected with supply and demand were the primary focus. The issue of price formation mechanism is unique in the fish and seafood production sector as fishing companies, unlike many other industrial sectors, cannot plan production. Fishing boats head out to sea without any certainty that the market will absorb the entire catch and that the price obtained will be profitable. This implies that, in practice, variable costs are not easily adjustable as they are paid in advance. In more general terms, this leads to a degree of asymmetry in the management of fishing companies. The daily price series and associated volumes for the year 2009 were analyzed for anchovies (Engraulis Encrasicolus) and pilchards (Sardina Pilchardus) in the main Adriatic fishing areas. The analysis shows that a uniform approach to managing the average price of small pelagic fish for the entire Adriatic Sea would not be effective, as this would negatively impact local niche markets. Specifically, the average annual prices for anchovies (Engraulis Encrasicolus) vary greatly at the different markets and there is little competition within the various fish and seafood markets. The study also focused on determining “no-fishing days” to control the supply of product on the markets, incorporating economic/income data from companies operating in the Adriatic small pelagic fish sector.

The Ministry of Fisheries (MFish) commissioned this work to advise on ways to incorporate economics into traditional catch per unit effort (CPUE) analyses. We test alternative ways to model CPUE against the more-traditional analyses by incorporating economic variables to determine the extent of their influence, if any.
Year effect estimated from CPUE analysis is used as an index of abundance for many New Zealand fish stocks - in some cases as an input into a stock assessment, but often simply to inform fisheries managers on trends in the status of the stock.
Annual indices of abundance are estimated from catch (landings) and effort data by standardising for the effect of factors which influence catch rate and which may vary over time. The so-called traditional analysis sometimes fails to capture patterns in behaviours reflecting economic incentives. In some instances, such forces might have stronger explanatory power than using the abundance alone to explain changes in CPUE.
For example, fishers may deliberately avoid catching fish from a particular fish stock for lack of Annual Catch Entitlement (ACE) to cover their catch. Without an informed model incorporating such crucial elements, “ceteris paribus”, one may incorrectly conclude that the abundance of an “economically undesirable” species is declining.
Through this exploratory work, we acknowledge gaps in pertinent economic data availability. We concentrate instead on characterising fishers’ economic behaviours to model CPUE change over time.

The ecological fishprint is an adaptation of original ecological footprint concept to quantify the pressure of fishery on marine ecosystems. In a complementary role of other fishery indicators, this ecological fishprint try to show a more ecosystemic evaluation of the fishing impact in Colombian, with a first application on the white shrimp (L. occidentalis) fishery. For such purpose, the ecological fishprint was estimated from 1956 to 2010 including artisanal and industrial fleets, whereas an econometric model was fitted to assess the effect of some environmental, economic and fishing variables on the performance of the fishery. The results showed an increase in the fishprint during the studied period: 4.72 gha/ton white shrimp in 1956 to 66.43 gha/ton white shrimp in 2010, which shows an increase of more than 1300%. The fitted econometric model indicated the dynamic effect of previous period and the artisanal fishery rising prevalence on others variables to explicate fishprint. Th...

The Otago (CRA 7) and Southland (CRA 8) regions are managed with distinct individual transferable quotas (ITQs) as part of the New Zealand's quota management system (QMS). However, for assessment purposes, they are considered as a single stock known as the NSS (North-South Islands South) rock lobster stock. Currently, a single harvest control rule based on catch per unit of effort (CPUE) in CRA 8 triggers proportional changes in the total allowable commercial catches (TACCs) for both CRA7 and CRA8 while each area keeps distinct TACCs, seasons and size limits. The current management procedure was designed to reach a CPUE based rebuilding target by 2014. We conduct a bioeconomic analysis to contrast the current management system to alternative strategies. These include amalgamation of the two areas into a single quota management area and separate management of the two areas with in-season adjustment of the CRA 7 TACC. We also examined alternative CPUE targets and an alternative pr...

This study focuses on the price formation mechanisms and was conceived due to the crucial nature of the Adriatic small pelagic fish market. It covers several aspects of the market, although those specifically connected with supply and demand were the primary focus. The issue of price formation mechanism is unique in the fish and seafood production sector as fishing companies, unlike many other industrial sectors, cannot plan production. Fishing boats head out to sea without any certainty that the market will absorb the entire catch and that the price obtained will be profitable. This implies that, in practice, variable costs are not easily adjustable as they are paid in advance. In more general terms, this leads to a degree of asymmetry in the management of fishing companies. The daily price series and associated volumes for the year 2009 were analyzed for anchovies (Engraulis Encrasicolus) and pilchards (Sardina Pilchardus) in the main Adriatic fishing areas. The analysis shows tha...

The dynamics of fish stocks are an important consideration in determining appropriate fishery management policy. Equally crucial are the dynamics of fishing effort. Both these dynamics have been incorporated in a simulation model to analyze the bio-socioeconomic impacts of four alternative limited entry management policies for the multispecies, multigear small pelagic fishery of northwest Peninsular Malaysia. Fishing effort dynamics are determined by the difference in profits and opportunity costs. Several management alternatives are evaluated at equilibrium. Performance variables such as equilibrium catch, social profits, consumer surplus, social benefits, direct fishery employment and income of individual crew are used in the evaluation. The implications for policy makers are discussed.

This study assessed the information sources and cues of food quality at customer interest before the purchase of shellfish in Lagos metropolis, Nigeria. Shellfish is a broad description for aquatic invertebrate possessing a hard outer covering which include the molluscs (oysters, clams and snails) and the crustaceans (shrimps, prawns, lobsters and crabs). A total of 240 questionnaires were distributed between October and December 2019, while 218 were retrieved and 201 were analysed using descriptive statistics. The majority of the respondents were females (77.61%) with age range of 18-30 years. Among the sampled population, 45.27% had secondary education, 67.16% married while over 25% earned a monthly income of less than ₦20,000. Shrimp (28.36%) was the major type of shellfish consumed, although 43.78% consumed shellfish occasionally while buying majorly from fish market (58.71%). The main source of information on shellfish quality was fish mongers (39.30%) and nutritional composition (32.34%) was the most often used information cues for purchase decision. Awareness on information of shellfish quality in the study area is on the high side although consumption can still be regarded to be low, considering the percentage that purchases shellfish occasionally.

Istanbul Bosphorus is a strategic fishing area with its physico-chemical and geographical characteristics. Also becuase of İstanbul metropole is taking part there, İstanbul Fish Market has become an important position in the region. The high variety of species and product entrance quantity rates provided us a continuous data flow for our study. The study was done between the dates of 1 January and 31 December 2014. Species were examined in two groups there such as fish and invertebrates. In 2014, 75 species (68 fish and 7 Invertebrates) were processed in İstanbul Fish Market and the total production was 42 244 tonnes (41 466 tonnes fish and 5 778 tonnes invertebrates) there. Quantities and prices of fish and invertebrates, which were added into the concept of research, were collected daily in survey form. Research results showed us that quantity of total products, which entered to Fish Market from 15 April until 1 September in fishing ban period, was decreased. This situation was caused the increasing of product unit price and there became seasonal fluctuations. Also there had been observed that the quantity of production was related to natural conditions mostly and aquaculture products were not related to unit price formation too much. In addition, we established that the quantity of products which entered to Fish Market was in maximum rates in October and in minimum rates at the end of finishing the fishing ban period in August.

Sumaila, UR, Teh, L., Watson, R., Tyedmers, P., and Pauly, D. 2008. Fuel price increase, subsidies, overcapacity, and resource sustainability.–ICES Journal of Marine Science, 65: 832–840. Global fisheries are currently overcapitalized, resulting in overfishing in many of the world's fisheries. Given that fuel constitutes a significant component of fishing costs, we expect recent increases in fuel prices to reduce overcapacity and overfishing. However, government fuel subsidies to the fishing sector reduce, if not completely negate, ...

Economic evaluations cannot overshadowing the sustainability of fisheries, but the rationalization of fishing activities cannot derive exclusively from eco-environmental strategies. In this regard, on the period 2000-2003, it is noted that fish production decreases, clear consequence of Community policies for sea fishing. In all other areas of the world the production continues to grow. Veneto Region and Friuli Venezia Giulia Region seem to react with a delay to the evolution of european markets, and this shows the structural rigidity of the export of the AdriFish area. The rate of the entrepreneurial development, taking as reference the entire country as a proxy for the general economic dynamics, it shows that in the years considered the fishing activities of the littoral AdriFish seem not to suffer the negative phase of the economy. The productivity of the area, as "euros for fishing day", is improving; the aggregate figure, however, hides heterogeneity between the fishing systems. As for the operational and financial performance of the fishery cooperatives, the innovations introduced by Basel 2 will bring substantial changes in the relationship with the banks. It is to believe that the fishery cooperatives are more exposed to the impacts of the new banking system; in this respect, the performances of cooperatives show "lights" and "shadows". Finally, an econometric estimation of the relationship between price and quantity indicates that the AdriFish markets are far from competitive.

News from East Asia tend to be dominated by conflict, including the dispute on the Senkaku-Diaoyu-Diaoyutai Islands and the still unresolved status of Taiwan. However, in 2013  Japan and Taiwan reached a deal whereby Taiwanese fishermen would be able to operate in the waters surrounding the Senkaku Islands, showing that cooperation is also possible, and that territorial disputes are not necessarily a bar to agreements concerning the management and protection of natural resources. The deal between Tokyo and Taipei may have been motivated by a number of factors, and was welcomed by many observers looking at East Asia from two divergent perspectives: those stressing hard national security priorities and those hoping to see a more cooperative, less sovereignty-centered approach.

Small-scale fisheries make key contributions to food security, sustainable livelihoods and poverty reduction, yet to date the economic value of small-scale fisheries has been poorly quantified. In this study, we take a novel approach by characterizing post-landing trends of small-scale fisheries resources and estimating their total economic value, including both commercial and subsistence values, in a remote rural region in Madagascar. We construct annual landings and characterize gear and habitat use, post-landing trends, fishing revenue, total market value, costs and net income, profitability, employment and dependence on small-scale fisheries. Our results show that the small-scale fisheries sector employs 87% of the adult population, generates an average of 82% of all household income, and provides the sole protein source in 99% of all household meals with protein. In 2010 an estimated 5524 metric tons (t) of fish and invertebrates were extracted annually by small-scale fishers in the region, primarily from coral reef ecosystems, of which 83% was sold commercially, generating fishing revenues of nearly $6.0 million (PPP, 2010). When accounting for subsistence catch, total annual landings had an estimated value of $6.9 million (PPP, 2010). Our results demonstrate the importance of small-scale fisheries for food security, livelihoods and wealth generation for coastal communities, and highlight the need for long-term management strategies that aim to enhance their ecological and economic sustainability. Our findings should catalyze national and regional policy makers to re-examine existing fisheries policies that neglect this sector, and spur researchers to better quantify small-scale fisheries globally.