May 21, 2013 — llegal fishing is a big problem facing the global fishing industry. A report by the ocean conservation group, Oceana, released earlier this month, found that illegal, unregulated and unreported (IUU) fishing accounts for 20 percent (11 to 25 million metric tons of fish) of the global catch. IUU fishing contributes to economic losses of $10 to $23 billion, and threatens the 260 million global jobs that are dependent on marine fisheries.
Released during the 2013 Managing Our Nation’s Fisheries Conference in Washington, D.C., the report calls IUU fishing a “major threat to the oceans, consumers and seafood businesses around the world.”
The sheer size of the problem of IUU fishing becomes clear when you look at some of the examples cited in the report:
– Three to four times more sharks are killed than official reports claim, as the shark fin trade in Hong Kong suggests, which yields $292 to $476 million in shark fin sales.
– Illegally caught Russian sockeye salmon is estimated to be 60 to 90 percent above report levels, which represents economic losses of $40 to $74 million.
– Illegal catches of Chilean sea bass are estimated to be 5 to 10 times greater than is officially reported.
– Half of the swordfish in Greece and cod in the UK are estimated to be illegally caught.
– Black market bluefin tuna may reach $4 billion annually, and the amount of illegally caught fish is estimated to be 5 to 10 times greater than the official catch.
– Illegal catches of skipjack, yellowfin and bigeye tunas are estimated to be $548 million a year.
Read the full story at Triple Pundit