Saving Seafood

  • Home
  • News
    • Alerts
    • Conservation & Environment
    • Council Actions
    • Economic Impact
    • Enforcement
    • International & Trade
    • Law
    • Management & Regulation
    • Regulations
    • Nutrition
    • Opinion
    • Other News
    • Safety
    • Science
    • State and Local
  • News by Region
    • New England
    • Mid-Atlantic
    • South Atlantic
    • Gulf of Mexico
    • Pacific
    • North Pacific
    • Western Pacific
  • About
    • Contact Us
    • Links
    • Fishing Terms Glossary
  • Join Us
    • Individuals
    • Organizations
    • Businesses

Research shows inefficient fishing costs global companies over $51bn annually

November 28, 2018 — An international research initiative has calculated that fishing companies worldwide are losing between $51-$83 billion in unrealized economic benefits every year due to overexploitation and underperforming fish stocks.

According to research undertaken by experts at the organization Sea Around Us, companies are spending too much for the fish, revenue and profits that they ultimately generate.

The organization’s latest report studied menhaden fisheries off the coast of the US and anchovies off the west shores of Peru. In both cases, Sea Around Us believes that profits could be substantially increased if stocks had been fished more intelligently.

“We found that Atlantic and Gulf menhaden stocks were in a healthy state and were being exploited below sustainable levels. By not augmenting their catches the two largest companies targeting them were losing $50 million in additional revenues and $12 million in profits,” lead author Tim Cashion said in a statement.

Meanwhile, Sea Around Us identified that Peru could also have increased its annual revenues by $3m – $9.1m from 2011 to 2015 if anchovy stocks had been allowed to recover in that time.

Read the full story at Undercurrent News

Recent Headlines

  • NEW YORK: Cuomo requests federal disaster declaration, aid for scallop die-off
  • Halibut in steady decline throughout Pacific, says commission
  • PRESS OF ATLANTIC CITY: Doubling NJ offshore wind power will require work, cooperation
  • Report says 4 of 6 Chesapeake Bay states cut funding, staff for top agencies handling pollution
  • Atlantic Capes, Northern Wind, Don’s Gulf lead launch of new Mexican bay scallop FIP
  • Offshore Wind Awaits Federal Environmental Reports
  • NEW YORK: Disappearing bluefish lead to regulators’ plan to limit catch
  • Maine Lobstering Union suing wholesalers, claiming they stole nearly USD 2 million

Most Popular Topics

Alaska Aquaculture ASMFC Atlantic States Marine Fisheries Commission California Canada Climate change Cod Donald Trump Florida Gloucester groundfish Gulf of Maine Gulf of Mexico Illegal fishing IUU fishing Lobster Maine Massachusetts Mid-Atlantic National Marine Fisheries Service National Oceanic and Atmospheric Administration NEFMC New Bedford New England New England Fishery Management Council New Jersey New York NMFS NOAA NOAA Fisheries North Carolina North Pacific offshore energy Offshore wind Pacific right whales Salmon Scallops South Atlantic Tuna Western Pacific Whales wind energy Wind Farms

Daily Updates & Alerts

Enter your email address to receive daily updates and alerts:
  • This field is for validation purposes and should be left unchanged.
Tweets by @savingseafood

Copyright © 2019 Saving Seafood · WordPress Web Design by Jessee Productions