Sample Economics Paper on Fisheries Sustainability

Introduction

According to Gish, (2010), Raptid Fisheries is a fishing company located at South
Caldwell Street, Brevard, North Carolina in the United States. This is a limited fishing
operational company. It was set up in the 1970’s. It has built heritage of calibre and an
international class of fish processing. It is one of the leading processors of Tilapia. The
merchandise and provision meet the most eminent International standards, tending by the
latest engineering science worldwide. Rapid Fisheries Company endeavours on rendering
splendid wares to splendid people. The main stakeholders are the customers, the managing
team and the workers.

Sustainability analysis

According to Gish, (2010), seashore fisheries world-wide have been brought down,
commercial fishing has circulated and recondite in avocation of the previous thriftiness
concentrations of fishable biomass. For a seafood dependent world majorly on the seas
ecosystem avails, it is very important to understand if fishing can be sustainable.
Fishing has unsoundly influenced the diffusion of fishes and fisheries globally, and is now
happening in the world’s seas far away from the fishing larboards and depletes. These shifts
lead us to study and examine whether fisheries can be sustainable. It is really a major issue to
apprize how teemingness marine sprightliness was in the past. This was simply because
human beings keep melting off anticipations as we put aside former conditions. This ground
is manifest. After arriving at Labrador in 1508, Charles Calisto reported Atlantic cod (Gadus
morhua, Gadidae) abundant enough to hinder his ships progress; three hundreds later, Pierre
de Charlevoix equated numbers of Grand Bnaks cod to grains of sand, calling cod fisheries
“mines” more valuable than the mines of Peru and Mexico. Most coastal ecosystems were
liberally plentiful until human beings destroyed them long ago.

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In line with Gish, (2010). The growing human population richness have increased
worldwide demand for fish, increasing bareness of celibatal shelf and epipelagic oceanic
fishes has made the fishing industries increase up their exercises even to astuteness that
couldn’t be trusted to host life until the 1800s. Fishermen knowledge on fishes and fisheries
question whether fishing can still be sustainable. A reasoned suffice depends on but
transcends environmental science, leasing ocean policy makers into the kingdoms of
economics and law.
Transforming the state of our innate environment requires us not only to pay our
attention to the land but also the sea. For the past centuries the sea has been neglected.
Perchance this is anticipated, given that people are terrestrial beings and that we are innately
drawn to seeing our destinies necktied to what goes revolving around us. Notwithstanding,
the superintending of our oceans will have tremendous results for sprightliness on the land
and therefore their sustainability should be of immediate concern to us all this was in line
with Gish, (2000).

Sustainability impact

Fish stocks are of great grandness to economic food security, economic output and
livelihoods. If demean fisheries are rebuilt and sustainably managed, they can result to
greater impact. The modulation of global fisheries to sustainable management will guarantee
these benefits for the long term. For the last twenty years fisheries have been conducing
approximately US$287 billion to global GDP, this is according to Gish, M. (2010). Withal,
they are currently not performing at all. In the Raptid Fisheries Company the impact of
fishing is diminishing each year. This means that each year’s workers are also being reduced.
Only if we could have sustainable impact we could curb this phenomenon down.

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Elasmobranchs are deep sea fishes targeted directly, primarily for shark liver-oil, and are
bycatch in fisheries targeting teleost and crustaceans. The low merchandising of the deep-sea
elasmobranchs, many of which are poorly known taxonomically and whose population status
is data efficient, is an ontogeny vexation. Their inability to sustain fishing pressure has led
adepts come up with a conclusion that deep-sea elasmobranchs are very vulnerable to over
victimization. This is caused by the sustainability of our seas.
Most of the sea resources are non-renewable, when human beings exploit them, they don’t
regenerate. When human beings exploit them, they don’t revitalize. As human beings exhaust
non-renewable capital stocks, our endurance and prosperity therefore depend increasingly on
renewable ones. At Raptid fisheries consumption of the non-renewable products is highly
discouraged as this reduces the sustainability of the fisheries resources.
Overview
Fisheries product which include fish stockpiles are composite and very valued commodities.
Their sustainability worldwide is a very key issue. Panoptic cognition and know-how of such
stocks and the impact upon them are mandate so that fisheries be taken care of in a
sustainable manner. Handling is unmanageable due to the fact that the resources are vauntily
unseeable until gleaned, results are mostly long-term, and the causes of the problems can be a
major challenge to identify. To add on that, nautical and fresh water mintages may be
migratory, these commodities may be shared or ranging between countries or areas, and the
numbers vary naturally from year to year. If these countries cooperated then sustainability
won't be a major issue.
Sustainable fisheries and the marine in which they are available provide substantial benefits.
These benefits may be categorised as ecosystem services, economic output, livelihoods and
food security.

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Ecosystem resilience can be achieved by rebuilding degraded fisheries. This will be of very
much help in upgrading the resilience of wider marine ecosystems to be able to defy
extraneous shocks and accentuates such as climate change befoulment effects. This might
also be of great value to guarantee other gains brought about by the oceans which includes
their ecosystem overhaul value for coastal protection and tourism. Sustainable fish stocks are
a very major constituent of any wellness ecosystem andalso healthy ecosystems are
absolutely essential to the continued productivity of fisheries.
Economic output of a country also increases due to sustainability fisheries. In the recent
world fisheries contribute to approximately US$274 billion to global GDP. This figure goes
up by a further US$200 billion per year this is only when upstream activities, such as boat
building are included. Fisheries that have started the transition towards sustainability great
economic impacts have been realised. These have been seen in the fish price as well as in the
value of fishing quota.
Livelihoods have been made to be sustainable as a result of sustainable fisheries that provide
secure, long-term and safe employment. Globally fisheries employ between 120 and 200
million people both as fishers and in other related activities such as distribution, processing
and marketing, as well as coming up with valuable multiplier effects in the worldwide
economy. Sustainably managed fish neither do they provide steady nor long-term
employment opportunities but also a better standard of employment. Sustainable fisheries
also are more likely to attract future generations to fishing and at the same time encourage
innovation.
Food security has been majorly boosted; this is due to the conducement of fish products and
fish to worldwide nutrition. A recent study reasoned out that if overfishing had not been so
dramatic approximately 50m million people could have avoided under-nourishment in 2011.

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Sustainable fish catching can contribute indirectly and directly to individual or national food
security. This can either be directly through the supply of the food product itself,
i.e.subsistence level, or indirectly when the income realised by those involved in the fishing
industry is used to purchase food for families.
Reporting Tools
It’s really a major issue to transit to sustainable global fisheries. Whilst the challenge is
deliberatable, inquiries on fisheries in transition perpetrated by the International Standard
Units (ISU) shows that sustainable fisheries is not only highly desirable but also achievable.
Raptid Fisheries company have come up with a number recommended reporting tools after a
rather discussion. This structure also will include the companies’ recommendation and the
potential solutions.
Stakeholder and Governance Engagement
Proficient administration with efficacious stakeholder should allow for the espousal of
asizeable package of tried and tested tools to ensure ecosystem approach, robust management
measures and impertinent economics. Good governance is viewed to be transparent,
responsive, effective and efficient. Fisheries are by their nature, hugely diverse in spacial
scale, so top down frameworks must allow for single differences and be joined with local
approaches.
Stake holder engagement at all stratums has come forth as one of the most essential elements
for sustainable fisheries management. It has helped in producing management frameworks
that incorporate local and traditional knowledge, ameliorate community copulations and instil
a sense of obligation over the resource. Co-management exemplars have most of the times
been elevated as an efficacious way to ascertain stakeholder requirements are taken into

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thoughtfulness. These exemplars range from total self-governance to apportioned obligation
approach. For instance, the Korean Southern prawn fishery is an instance of an advanced
form of co-administration, where the company has taken on a number of functions on behalf
of government such as investing significantly, running the crew member programme,
analysing and collecting catch data. This is all done in buy-back schemes to reduce capacity.
Management advice is furnished in view of the sustainable utilisation of fisheries resources.
Multi-fleet fisheries, compels and multi-species models are fabricated to address key
management releases. Appraisals on degrees of commercial catch and catch rates, command
in single, quota management and co-managed fisheries is given.
Also the governance and stakeholder have formed a body Fisheries act, responsibly for the
sea fishing sustainability. This includes a sea-run steel head, cutthroat and Dolly Varden. In
this capacity the Fisheries act has led on fishing sustainability, recreation conservation and
governance. It is also recognized that the program will face the coordination challenges that
come with superintending such a diverse and expansive sea geography and resources.
Governance and stakeholders fills the gap of fishing sustainability by providing a common
roadmap for all the involved partakers in the fishing industry.
Confining feat and constituting access rights
Seas have all along been viewed a ‘worldwide coarse’ and as such, only a few countries have
levied restraints on their use. This has led to the decade age trouble; anyone with access to a
shared valuable resource has an interest in over exploiting it, while it is in nobody’s interest
to take care of it alone. At Raptid Fisheries Company, in order to achieve fisheries
sustainability, descent is highly discouraged. Descent is the exclusive espousal of more
potential technology and a speedy increase in global fishing capacity leading to over-
exploitation of this renewable source.

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A total allowable catch (TAC) is set at the most basic level. This establishes a level beyond
which it becomes an offence to fish. This level is set at a point such that it will reduce effort
immediately and catch to a more sustainable level. Although travail restriction is an all-
important initial pace in the theodolite to sustainability, if a fishery continues open-access the
outcome is a ‘race fish’. Fishers are bucked up to fish as quickly and as hard as possible
before the TAC is arrived at and the fishery closes.
If portion of restricted catch limit is allocated to the fishermen, they are offered with a
motivator as their fisheries productivity is explicitly coupled to sustainable fisheries
management. A system of restricted approach or privileged access rights is generally
acknowledged to be a useful way to sustainably govern a fishery. It is a key thing to note that
there are lots of ways to come up with access rights, and any individual fishery will have a
complex set of factors that will be able to rule out which is the most efficient way. Although
most composite systems can impose high costs, establishing rights that give fishers clear and
long-term approach to the resource does not have to be composite and high-priced. Indeed, in
Raptid Fisheries Company, the local chieftains restrict access to the resource by specifying
who can fish in which areas.
Individual Transferable Quota (ITQ) system is an example of one of the most advanced
access right systems. Fishers are not only allocated a quota of catch but also are able to
merchandise this quota with other participants in the fishery. Due to this methodology and
running mechanisms, ITQ systems can be relatively costly to implement therefore the
institutional capacity and socio-economic condition of a fishery will need to be taken into
consideration.
Losers and winners will always be there with any reduction in fishing effort, however, there
are always means of mitigating potential negative socio-economic effects. This is only meant

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to increase the level of fisheries sustainability in our countries. A more emphasis should be
put on increasing the sustainability rather than exploiting out non-renewable resources.
Public subsidies for sustainability
Public subsidies which have been allocated contribute to increasing capacity which leads to
over-exploitation of a fishery. Obstinate subsidies artificially lower the input costs of fishing,
thereby leading to fishing to go on beyond a point at which it would otherwise become
unprofitable. This results to overcapitalisation of fishing evanesce and accordingly the over-
exploitation of the resource. The impingement of these subsidies is so great that some
companies or organisations argue that eliminating or redirecting them is the most convenient
action that can be only taken to move toward more sustainable fisheries.
Initially subsidies were acquainted to help in driving technological and innovative
movements after World War II. Fisheries at this time are believed to be inexhaustible and
governments wanted to encourage investment in the sector to provide jobs and food security
in the struggling coastal regions. After a short while it was realised that these subsidies were
leading to overfishing. Since then a call has been there to eliminate the subsidies in order to
increase fisheries sustainability.
It would be seen out that instead of propping up unprofitable elements of fishing industry, it
would be more environmentally, economically and socially rational to redirect these subsidies
to promote more sustainable fishing practices and aid the smooth modulation from business
as common to sustainability.
Ecosystem data collection and analysis
Sustainable fisheries management incorporating ecosystem considerationsentails taking into
account the impacts of fisheries on the marine ecosystem and the impacts of the marine

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ecosystem on fisheries. Data collection and analysis is the most basic need for fisheries
sustainability. It entails the collection of comprehensive data on the stocks and habits of both
target and non-target species within an ecosystem. However in some fisheries, still a canonic
stock assessment is lacking.
In Raptid fisheries a proper data collection and analysis in managed. There is a team
specifically for that task. This data is used for management decisions. Good use of available
data can significantly improve the chances of setting appropriate catch limits. A well
maintained data collection and analysis can hence improve fisheries sustainability in our
countries.
Use of data in management decisions, data processing and collection can be resource
intensive. Although utile data will be only held by the fishers themselves, strong partnerships
between the fishing and scientific communities are very much important for acquiring locally
held or traditional knowledge. It is much tardily for the scientific community to impose
external scientific knowledge on fishing communities to dissolve scientific research. Fishers
accompanied scientists to represent fish spawning grounds and this locally held information
was incorporated into management efforts for the fishery.
For an ecosystem approach, it is very vital to understand the biology and interactions of non-
target species as well as target species. For instance it is of very much use to know out to
what exsert different species are under pressure from fishing effort. This will be of much help
when deciding the best management practice.
Safeguard management
It is still very much possible to achieve sustainable fisheries management under uncertain
conditions or missing data but a precautionary approach based on the best usable data may

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help to prevent over-exploitation of a fishery. Associated with this is the espousal of a
cognitive operation known as confirmative management. It is very vital to have in mind that
ecosystems are not stable, but rather are active and changing systems with no distinct
baseline form which any change can be viewed. This makes it hard for sustainable fisheries to
feasibly operate around absolute parameters of what defines a healthy ecosystem. Instead
ameliorations should be measured and accessed against relative milestones or indexes of
advancements over time.
It’s only via adaptive management the sustainability of fisheries can be slowly by slowly
bettered based on the best available data. An excellent example is the Korean Spencer Gulf
prawn fishery where a much real-time management organisation has been constituted. If
immature prawns are found out in active fishing areas then fishery managers are notified and
commutations are made within one hour.
Scaling down Bycatch
Bycatch refers to fish or marine species caught accidentally while in the process of catching a
specific target species and target sizes of fish. The diminution of bycatch is very much vital
given its eminent incidence within marine fisheries and its effect on the delicate symmetry of
marine ecosystems. Bycatch contributes to about 12% to total global catch and as much as
74% to the catch of some tropical prawn fisheries. The enamour of juveniles, species or
females of great use is particularly a high risk to sustainable fisheries. Bycatch minimization
is key to any modulation to a sustainable and resilient fishery and a cornerstone of the
ecosystem approach. Furthermore, bycatch minimization has more economic gains for
fishers, as reductions in catch of non-target species gives more time and on board space for
the marked species, ultimately increasing their market value and quality.

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A lot of efforts from technical innovations have been put in place to reduce bycatch. Over the
years progress has been made to come up with more prime trawl gear, for instance through
the usage of the ‘eliminator trawl’ off the coast of United States. This takes advantage on the
difference in behaviour between haddock and cod; an escapement panel in the nets of the
trawl net allows for the natural response of the cod to dive when trapped, thereby almost
entirely getting rid the accidental catch of this species.
Enforcement and Monitoring
Sustainable fisheries management involves the laying down of goals and regulations that
heighten the sustainability of the fishery. Abiding by with such regulations by the fishing
community is essential as it creates a level playing field. Fishers can only run sustainably in
the knowledge that their resource is not being overexploited by others.
Rapid fisheries have come up with state-owned method of enforcement and monitoring.
Through improved control, surveillance and monitoring, collaboration and information
sharing between legal operators, government and NGOs, substantial strides have been made
to curb down Illegal Unreported and unregulated fishing.
In enforcing fishing regulations many countries have adopted vessel monitoring systems
(VMS) as a first step. This has been achieved by using satellite technology to automatically
plot the positions of fishing vessels. This has also enabled them to monitor any movement of
individual fishing vessels. The tools and interventions available to the fishing community can
be tailored to the needs and constraints of individual fisheries. The change to sustainability
will require whole variety of interventions. Sustainable fisheries are generally ones that have
voguish economic inducements, follow, to the extent possible an ecosystem approach and are
superintended in a full-bodied manner.

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Conclusion
The tools above designate how much work is being done at Raptid Fisheries and around the
world to come up with a change to sustainable fisheries management. This lays a ground for
considerable optimism. There are barriers that exist to achieve sustainable fisheriesand it is
very much vital to understand them. The modulation from business as common to a
sustainable state is a complex cognitive operation and may involve trade-offs, particularly in
the brusque terminus.
Increment awareness and knowledge of the chances that sustainable fisheries present could
help to create the exuberance required by all stakeholders to drive positive change.At the
peak level, there is a great need for fisheries to be upgraded in importance on the dockets of
national governments to reflect their grandness to national and local economies, livelihoods
and food security.
The advancement of the vitality of sustainable in the above tools will help to speed up the
action. Consumer demands for sustainable seafood can often be transferred downwards the
provision chain to the producers, giving out an incentive to secure certification. Fisheries
sustainability can thus be achieved if all the stakeholders come in hand and agree to move out
in the same direction.

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References

GISH, M. (2010). Fisheries. Mankato, Minn, Creative Education.