0.19 Natural capital: fisheries  (Page 7/14)

A major example of illegal fishing is that for Sharks, a fish at the top of food chain in the ocean. The impact of overfishing of sharks is especially serious. This problem is becoming acute in the Western Pacific, in Java Sea and the China Sea. This is because of the use of shark fins for shark-fin soup, especially highly prized in Japan and China. The rest of the Shark is thrown away.

Here ITQs and regulation are failing badly. Consider Hammerhead Sharks and Sand Bar Nurse Sharks. These are among the most endangered of large predators. Sharks in U.S. waters were nearly depleted. In 1950s, due to over entry in shark fishing, most of the U.S. firms in this business went bust in 60’s. As a result the decline in the shark population was reversed in U.S. waters after 1962.

But overfishing continues in Mexican waters. Sharks were so depleted there that poachers now come into U.S. waters in search of sharks. In 2012 Shark fins sold wholesale for $36 pound, even more than the price of fresh Halibut. The worldwide trade in shark fin is estimated at $1 billion.

Illegal poaching by Mexican fishermen account for 50,000 sharks a year. The boats use long lines and gill nets. This is a very good example of enforcement problems. ITQs are not affected because of illegal poaching. But the Coast Guard in U.S. cannot police the whole Gulf coast for illegal drugs, much less shark poachers. As a result, Hammerheads, Sand Sharks and other shark fisheries remain in danger in the Gulf of Mexico and elsewhere.

As we consider issues in salt water fisheries, we need to bear in mind that emerging nations now have a much higher stake than before in reform of fishing practices that endanger this natural resource.

In rich nations, fishing is not a significant share of GDP. There is only one developed nation where fishing accounts for more than 1% of GDP: Iceland at 12.5%. The fact that about 75% of the ocean’s fish species were until very recently on the brink of falling below sustainable levels adversely affects all of humanity, but it affects poor people in poor nations even more.

Several poor nations rely heavily on fishing. Examples include Peru, Thailand, Vietnam, and Indonesia. And diets in many emerging nations are heavily dependent upon increasingly scarce fish. (Note: The taste for fish is not universal. Apaches in the U.S. refused to eat fish even well into 20th century).

There has in fact been a shift of fishing effort from rich to poor nations. This shift accelerated beginning in 1960s. A growing problem has been foreign fishing fleets especially from developed countries doing illegal and unreported catches in waters adjacent to poor nations. But the fish caught by these fleets are largely consumed by rich nations, especially Japan, not poor ones. “Rebuilding Global Fisheries”, Science , July 31, 2009, Vol. 325(5940), p.584.

Ecological issues

The prime targets of salt-water fishing fleets are the predators of the ocean (cod, grouper, salmon, and shark). In many areas, 90% of these predators are gone. In Nova Scotia Cod are now 98% depleted. APEX fish are especially at risk. These are long-lived and epipelagic species (fish living near the surface). Overfishing for this high-value, long-lived fish is becoming increasingly serious in the Caribbean, Peru, Brazil and elsewhere. Consider Tuna, Mackerel, Swordfish and Marlin. In 2013 these all brought high market values $8-$12 per Kilo ex vessel and $18-24 retail (Bluefin Tuna was much higher). These epipelagic species are exploited by multifunctional fishing fleets (fishing boats with processing facilities aboard). Regulation of these is quite difficult. Most endangered is the Bluefin Tuna, a favorite on the Japanese dining table. Such fish are especially vulnerable to collapse from fishing pressure. They are all highly valued, long-lived and large bodied fish (some Marlin weigh upwards of 400 lbs.). It is easy to see why high value and large weight increase vulnerability.