Search

In this study, we develop a dynamic Inverse Almost Ideal Demand System model to derive own- and cross-price flexibilities for wild-caught fish, Australian farmed salmon and imports of fresh and frozen fish. We find that the growth of fresh fish imports and Australian farmed salmon production have both individually had a significant negative impact on the prices received for Australian wild-caught species, particularly the lower valued species. Continued growth in imports and the farmed salmon sector may negatively impact prices and hence profitability in wild-caught fisheries in Australia in the future. [ABSTRACT FROM AUTHOR]

Individual transferable quotas (ITQs) have been implemented in many fisheries in Australia and elsewhere, primarily in response to stock management challenges. However, unanticipated economic and social outcomes are also apparent, particularly for small-scale fishers. In December 2020, the Australian Senate initiated an Inquiry into the operations of ITQ management systems in Australian fisheries. Submissions were made by individual fishers, industry organisations, fisheries managers, research groups and others, detailing their perceptions on performance in terms of environmental, social and economic outcomes. We summarise the key points raised in the submissions, identifying areas where claims and perceptions were similar or diverse for the different groups. We find that the individual fishers who made submissions were largely negative about the impacts of ITQs in terms of all three outcome domains, whereas industry organisations and others were mostly positive overall. Social issues, particularly ownership of quota by nonfishers (i.e. investors), were flagged by most groups as a problem with the current system. Addressing these concerns with ITQ systems may be difficult. Enshrinement as user rights means that small-scale fisheries and local communities may be disadvantaged in the long-term due to past trade-offs favouring economic and ecological sustainability over social impacts. [ABSTRACT FROM AUTHOR]

Australia has experienced a significant increase in seafood imports over the past two decades. Concurrently, Australian seafood producers have raised concerns that the low market prices of imported fish may negatively affect the prices of domestically produced seafood and, subsequently, the profitability of the Australian fishing industries. To validate this concern, this study examines the relationship between prices of domestically produced seafood and imported fish. Price data from the Sydney Fish Market (SFM), Australia's largest auction wholesale fish market and fish import data are used for a cointegration analysis which is conducted using the bivariate Johansen test. Results indicate that prices of most domestic species traded within the SFM are not cointegrated, implying that they largely develop independently of each other. However, imported fish, particularly fresh imports, were found to be cointegrated with Australian produced fresh fish supplies traded on the SFM. Although the law of one price (LOP) was only confirmed to hold for some price pairs, the results suggest a partial substitution relationship between imports and domestically caught fish. This implies that prices of domestically produced fish within the Australian market are likely impacted by price dynamics within the international seafood market. [ABSTRACT FROM AUTHOR]

Fisheries management is characterised by multiple objectives, some of which may be complementary, while others may require trade‐offs between outcomes. Balancing these objectives is made more complex in the case of multispecies and multigear fisheries. In this paper, we develop a bioeconomic model that captures the key elements of such a fishery to test a range of potential harvest strategies to provide insights into how economic target reference points could lead to both desirable and undesirable management outcomes (e.g. discards). The model is developed as a long‐run optimisation model to identify target reference points to achieve multispecies maximum economic yield, and a dynamic recursive optimisation model, which includes more realistic representation of fishers' behaviour, such as discards and trading of under‐caught species quotas. The potential economic, social and ecological impacts are evaluated using data envelopment analysis (DEA). The results suggest that the use of proxy target reference points can result in short‐term economic benefits at the cost of slower stock recovery and higher discarding. Limiting the number of species subject to quota controls may also prove beneficial in multispecies fisheries, while ensuring quota markets are efficient is likely to produce benefits irrespective of the harvest strategy adopted. [ABSTRACT FROM AUTHOR]

Rights-based management has been advocated as a means of improving the biological sustainability and economic performance of commercial fisheries. The most common forms of rights-based management implemented are individual transferable catch quotas (ITQs) and individual transferable effort quotas (ITEs). Perceptions of success of these management systems vary, however, with some being considered successful while others have been criticized, especially when broad social outcomes are taken into consideration. In this study, we develop a Bayesian belief network model that considers the underlying governance and social environment in which the fishery operates, along with the characteristics of the fishery. We use data derived from a survey of fishers, managers, and scientists to populate the model from 47 Australian fisheries currently managed through ITQs and ITEs. As well as capturing the characteristics of the fisheries, the survey asked respondents for their perceptions on the overall performance of the management system, as well as its performance against social, economic, environmental, and governance objectives. The results suggest that positive perceptions of management performance are related to the quality of social relationships between fishers, the efficiency in the functioning of quota markets, and the degree to which economic information is used in quota setting. [ABSTRACT FROM AUTHOR]

The Integrated Management System for the Aquaculture (SIMA in Spanish) is a comprehensive interoperable information and modelling platform that has been developed to provide the Chilean Aquaculture industry and government agencies with access to improved environmental intelligence allowing them to make better informed strategic and operational decisions. SIMA is built upon an integrated system of biophysical production data, catchment and coastal-marine models, visualisation, reporting and risk-based decision support tools. This communication briefly describes the SIMA architecture and components and provides examples of applications of how it can be used to inform policy and management decisions, and discusses challenges and key learnings and considers future developments and applications. [ABSTRACT FROM AUTHOR]

The management of small pelagic fisheries is difficult due to environmental regime changes that generate multi‐decadal cyclic fluctuations in stock abundance. Lagged management responses to environmental factors can amplify the effects of fishing and may even result in stock collapse. In this paper, we develop an age‐structured bioeconomic model to explore the effectiveness of alternative management approaches for cyclically fluctuating small pelagic fish stocks. The fishery outcomes are evaluated against the overall profit of the fishery and the intertemporal distribution of fishing profits. The model is parameterised for the Japanese sardine fishery, once the largest fishery in Japan, which has experienced a prolonged period of stock collapse over the last 100 years. The results show that the duration of fishery collapse is mostly determined by the extent of cyclic fluctuations in the recruitment of immature sardines, but the effects of the fluctuations on the fishery are heightened by the cumulative impact of fishing. We further show that restricting fishing reduces the fishery's overall profits, but smooths the intertemporal distribution of profits, resulting in greater intergenerational equity. This income smoothing effect is particularly pronounced when the stock exhibits high levels of cyclic fluctuations. [ABSTRACT FROM AUTHOR]

Fisheries can generate substantial economic returns to society if managed with economic targets as the main objective, that is with biomass, catch, and effort levels that correspond to maximum economic yield (MEY), although the move to such targets presents a number of challenges. These are compounded in multispecies fisheries, as it is not possible to achieve all individual targets simultaneously if targets are set on a species-by-species basis. Identifying appropriate targets both conceptually and empirically has also proven challenging, and consequently the implementation of economic targets to real world fisheries have been limited to a small number of data-rich and high-valued fisheries, with reliance on proxy target reference points in other fisheries. Moreover, these application has been limited due to unknowns as to what proxies should be used under different circumstances. Here, we review the alternative ways in which MEY has been estimated and applied in multispecies fisheries. We also review the roles and potential use of proxy target reference points for multispecies MEY in data-limited fisheries, building on Australian’s experience in implementing such a policy. [ABSTRACT FROM AUTHOR]

This study examines the extent to which the choice of management approach is a critical factor in enabling climate change adaptation in marine fisheries. Climate change is expected to compound many pressing issues affecting fisheries management. Good governance of fisheries, which is critical to building their adaptive capacity and social-ecological resilience, is seen as ever more important in the context of climate change. A range of fisheries management approaches have been developed and, to varying degrees, applied. Each has been described in the literature as a promising way to manage marine resources. Through literature reviews and a survey of practitioners, this study explores how theoretical properties of selected major management approaches (i.e., ecosystem-based management, adaptive management, co-management, adaptive co-management, and active adaptive management) enable climate change adaptation, and how such properties are perceived by practitioners to manifest in practice using an Australian marine fisheries context. Overall, the selected management approaches have the potential to enable climate change adaptation to varying degrees. Ecosystem-based management, in combination with adaptive management and co-management as nested management approaches, possesses the full array of adaptation capacities and attributes required for adaptation in fisheries. Distinctions between theory and practice observed in this study highlight the importance of practitioner perceptions and enabling institutional arrangements in adapting management to climate change. [ABSTRACT FROM AUTHOR]

As a consequence of global climate-driven changes, marine ecosystems are experiencing polewards redistributions of species - or range shifts - across taxa and throughout latitudes worldwide. Research on these range shifts largely focuses on understanding and predicting changes in the distribution of individual species. The ecological effects of marine range shifts on ecosystem structure and functioning, as well as human coastal communities, can be large, yet remain difficult to anticipate and manage. Here, we use qualitative modelling of system feedback to understand the cumulative impacts of multiple species shifts in south-eastern Australia, a global hotspot for ocean warming. We identify range-shifting species that can induce trophic cascades and affect ecosystem dynamics and productivity, and evaluate the potential effectiveness of alternative management interventions to mitigate these impacts. Our results suggest that the negative ecological impacts of multiple simultaneous range shifts generally add up. Thus, implementing whole-of-ecosystem management strategies and regular monitoring of range-shifting species of ecological concern are necessary to effectively intervene against undesirable consequences of marine range shifts at the regional scale. Our study illustrates how modelling system feedback with only limited qualitative information about ecosystem structure and range-shifting species can predict ecological consequences of multiple co-occurring range shifts, guide ecosystem-based adaptation to climate change and help prioritise future research and monitoring. [ABSTRACT FROM AUTHOR]

The legal minimum length (LML) of female Southern Rock Lobster (Jasus edwardsii) was reduced in the Tasmanian fishery in 1966 for higher sustainable catches. Originally, the LML was to be reduced in slow growth southern areas only; however, the change was implemented across the entire fishery due to lobbying by commercial fishers. The lower LML has been controversial ever since, including during recent years when low recruitment resulted in a lower total allowable catch (TAC). Fishers argued that this could have been prevented with a higher female LML across the jurisdiction. A length- and sex-based bioeconomic model was used to examine probable outcomes of the larger statewide LML. This model showed that management of egg production would be poorly served by raising the statewide LML because of spatial patterns in the stock and fishery. Catch would be displaced from areas where egg production was already high and into the most depleted areas thus reducing production in areas of greatest concern. Spatial variation in biological parameters can have a profound effect on outcomes of management perceived to be conservative, possibly leading to negative impacts. This risk exists wherever catch is displaced, such as with Marine Protected Areas, spatial TACs and gear restrictions. [ABSTRACT FROM AUTHOR]

A theoretical basis is required for comparing key features and critical elements in wild fisheries and aquaculture supply chains under a changing climate. Here we develop a new quantitative metric that is analogous to indices used to analyse food-webs and identify key species. The Supply Chain Index (SCI) identifies critical elements as those elements with large throughput rates, as well as greater connectivity. The sum of the scores for a supply chain provides a single metric that roughly captures both the resilience and connectedness of a supply chain. Standardised scores can facilitate cross-comparisons both under current conditions as well as under a changing climate. Identification of key elements along the supply chain may assist in informing adaptation strategies to reduce anticipated future risks posed by climate change. The SCI also provides information on the relative stability of different supply chains based on whether there is a fairly even spread in the individual scores of the top few key elements, compared with a more critical dependence on a few key individual supply chain elements. We use as a case study the Australian southern rock lobster Jasus edwardsii fishery, which is challenged by a number of climate change drivers such as impacts on recruitment and growth due to changes in large-scale and local oceanographic features. The SCI identifies airports, processors and Chinese consumers as the key elements in the lobster supply chain that merit attention to enhance stability and potentially enable growth. We also apply the index to an additional four real-world Australian commercial fishery and two aquaculture industry supply chains to highlight the utility of a systematic method for describing supply chains. Overall, our simple methodological approach to empirically-based supply chain research provides an objective method for comparing the resilience of supply chains and highlighting components that may be critical. [ABSTRACT FROM AUTHOR]

• Market integration analysis can provide insights relevant for fisheries management. • Spatial integration across domestic fish prices has not been explored in Australia. • Cointegration tests of 15 fish species' price data traded at Melbourne and Sydney were performed. • Two domestic markets are well integrated and can be effectively treated as one market. • Future modelling based on Sydney fish market prices is likely to provide reliable estimates. The Southern and Eastern Scalefish and Shark Fishery (SESSF) is the main domestic supplier of fresh wild-caught fish to the Sydney and Melbourne markets. The fishery is managed through a series of total allowable catches (TACs) for key species, with an objective of achieving maximum economic yield (MEY) with biomass and fishing mortality at MEY as management targets. However, the sensitivity of seafood prices in identifying MEY for this fishery and Australian fisheries in general has been largely ignored and understudied. This article explores the spatial integration of domestic fish prices across the two main fish wholesale markets in Australia located in Sydney and Melbourne, using relatively simple market integration analysis of historical monthly price data (1999–2010). Price data collection in the Melbourne Fish Market ceased in 2010 after the privatization of the market and more recent data are not available. The analysis determined if there were any fundamental differences between the two major domestic fish markets in Australia, and to draw implications for bioeconomic modelling to identify MEY-based targets. [ABSTRACT FROM AUTHOR]

Individual transferable quotas (ITQs) have been introduced in a large number of fisheries worldwide, mainly to achieve resource sustainability and improve the economic performance of the fisheries. Fisheries have evolved since quota introduction and have developed different ownership structures, with some fisheries being predominantly owner-operator, while other fisheries have attracted investors and non-fishing quota ownership. These different ownership structures may affect the perceptions of the effectiveness of ITQs, although the influence of ownership structures to the perception of management performance based on different management objectives is rarely studied. In this paper, we draw on a case study of the Tasmanian abalone fishery in Australia to illustrate the influence of different quota ownership structures on perceptions about the social, economic and resource sustainability outcomes of ITQ fisheries. We find that fishers with low levels of quota ownership (i.e. lease dependent) have low levels of satisfaction, and believe the fishery is not performing well against the multiple management objectives. • We illustrate how different quota ownership may affect perceived ITQ outcomes. • Tasmanian abalone fishery used as a demonstration case study. • The level of quota ownership has large influence on perceived fishery performance. • Investors and quota owning fishers believe the fishery is generally performing well. • Fishers with low levels of quota ownership have low levels of satisfaction. [ABSTRACT FROM AUTHOR]

Transferable fishing rights in the form of individual transferable catch quota (ITQ) have been introduced into a large number of fisheries worldwide, mainly to achieve resource sustainability objectives and to improve the economic performance of the fisheries. ITQs have been credited with a number of potential benefits, particularly in relation to fisher incentives and allowing the fishery to adjust in response to changing biological and economic conditions without the need of further actions by managers to reduce fishing effort. While these economic benefits have been realised in some fisheries, others have seen less of an improvement in economic performance and believed to have resulted in adverse social impacts in some cases. This article reviews international experiences of ITQ management to determine the experiences elsewhere in relation to sustainability, economic, social, and governance outcomes, collating the empirical evidence for ITQs in achieving multiple objectives, and highlighting the research gaps. • Few integrated assessments evaluate ITQ outcomes across multiple dimensions. • Economic and sustainability outcomes are generally positive. • Social and governance outcomes are often negative. • Social impacts may be improved with careful design and transfer restrictions. • The effect of ITQs on compliance cost and behaviour is under studied. [ABSTRACT FROM AUTHOR]

A correction to the article "Modelling marine community responses to climate-driven species redistribution to guide monitoring and adaptive ecosystem-based management" that was published in the 2016 issue is presented.