Featured Research

from universities, journals, and other organizations

New fisheries system will save about $20 million, researchers find

Date:
October 5, 2010
Source:
Iowa State University
Summary:
Some fisheries in the United States are poised to undergo major changes in the regulations used to protect fish stocks, and researchers have estimated that the new system will be an economic boon to the fishing industry. The two estimated harvesting costs under the old system and compared that to the newly proposed fishing regulations that lift many restrictions that cause inefficiency while still limiting amounts to be harvested.

Some fisheries in the United States are poised to undergo major changes in the regulations used to protect fish stocks, and Iowa State University researchers have estimated that the new system will be an economic boon to the fishing industry.

Related Articles


Quinn Weninger and Rajesh Singh, both associate professors in economics, estimated harvesting costs under the old system and compared that to the newly proposed fishing regulations that lift many restrictions that cause inefficiency while still limiting amounts to be harvested.

Their analysis focused on the Pacific Groundfish fishery, which manages fishing in waters off the Northwest coast of the United States, and found the Groundfish fleet could save between $18 million and $22 million annually under the new regulatory system.

Pacific Groundfish fishery is one of several fisheries around the country that monitors fish harvest by location and types of fish. Similar economic conclusions would apply to other areas and other fish types, according to Weninger.

"What we've tried to do is come up with the cost savings that would be involved when we change from the old to the new system," he said.

The new system controls catch amounts through a system of tradable fishing permits and allocates a certain amount of fish to be harvested by each fisherman each year, said Weninger. The amount of each fisherman's total harvest is determined by the total number of permits he holds.

Fisheries managers, who are National Marine Fisheries Service employees, monitor fish stocks and calculate the total harvest that will allow fish numbers to remain at sustainable levels while letting fishermen survive economically.

Under the new system, for example, if a fisherman owns 1 percent of the permits, that fisherman can harvest 1 percent of the total amount of fish, which is chosen annually by the manager.

The new regulations begin by allocating permits to active fishermen based on that fisherman's past annual haul of fish. A key feature is that the permits can be bought and sold, allowing more flexibility for fishermen.

Under the old system, fishermen faced a host of regulations designed to ensure the fleet did not overfish the resource.

These regulations included imposing gear restrictions, seasonal closures, area closures, limits on the number of boats, bimonthly catch limits and other regulations that make harvesting fish less and less efficient and more costly.

"Prior to the new system, an entire years' halibut was harvested in two, six-hour openings," said Weninger. "We're talking about thousands of boats going out there and filling their boats to the point of sinking on the way home with all of these fish."

While the new system has gained popularity in recent years, little was known about how much money would be saved industry-wide.

Weninger and Singh answered that question.

The $18 million to $22 million savings for the Pacific Groundfish fishery will result mainly from reducing the size of the fishing fleet from around 117 vessels, to around 40 to 60 that will be required to catch the government-set limit. That is a reduction of more than 50 percent.

"Basically the revenues stay the same [under the new system], but you're able to harvest those fish at a fraction of the cost," Weninger said.

The old systems had too many redundant boats providing the same service, he added.

The findings are published in the journal Marine Resource Economics.

Weninger said the cost savings could eventually lower prices at the supermarket.

Another benefit for consumers is the availability of fresh fish. In the past, since all the halibut had to be harvested in just a few hours, consumers had to settle for frozen fish for much of the year. Now, with the expanded time window to catch fish, there will be fresh halibut available for more of the year, he said.

Another benefit is safety. Since fishermen won't be required to fish during a time preset by the government regulations regardless of weather conditions, they can fish when conditions are favorable and fishing is safer.


Story Source:

The above story is based on materials provided by Iowa State University. Note: Materials may be edited for content and length.


Cite This Page:

Iowa State University. "New fisheries system will save about $20 million, researchers find." ScienceDaily. ScienceDaily, 5 October 2010. <www.sciencedaily.com/releases/2010/10/101005161214.htm>.
Iowa State University. (2010, October 5). New fisheries system will save about $20 million, researchers find. ScienceDaily. Retrieved December 19, 2014 from www.sciencedaily.com/releases/2010/10/101005161214.htm
Iowa State University. "New fisheries system will save about $20 million, researchers find." ScienceDaily. www.sciencedaily.com/releases/2010/10/101005161214.htm (accessed December 19, 2014).

Share This


More From ScienceDaily



More Plants & Animals News

Friday, December 19, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Navy Unveils Robot Fish

Navy Unveils Robot Fish

Reuters - Light News Video Online (Dec. 18, 2014) The U.S. Navy unveils an underwater device that mimics the movement of a fish. Tara Cleary reports. Video provided by Reuters
Powered by NewsLook.com
Kids Die While Under Protective Services

Kids Die While Under Protective Services

AP (Dec. 18, 2014) As part of a six-month investigation of child maltreatment deaths, the AP found that hundreds of deaths from horrific abuse and neglect could have been prevented. AP's Haven Daley reports. (Dec. 18) Video provided by AP
Powered by NewsLook.com
When You Lose Weight, This Is Where The Fat Goes

When You Lose Weight, This Is Where The Fat Goes

Newsy (Dec. 17, 2014) Can fat disappear into thin air? New research finds that during weight loss, over 80 percent of a person's fat molecules escape through the lungs. Video provided by Newsy
Powered by NewsLook.com
The Hottest Food Trends for 2015

The Hottest Food Trends for 2015

Buzz60 (Dec. 17, 2014) Urbanspoon predicts whicg food trends will dominate the culinary scene in 2015. Mara Montalbano (@maramontalbano) has the story. Video provided by Buzz60
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:

Strange & Offbeat Stories


Plants & Animals

Earth & Climate

Fossils & Ruins

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins