November 24, 2005

Australia to cut back commercial fishing
 

Australia's government recently announced a A$220 million rescue package to cut back commercial fishing in the country, in a bid to alleviate over-fishing. Of the amount, A$150 million would be used to buy out about half of the 1,200 licensed fishermen in commonwealth waters. The remaining A$70 million would be used to help offset the economic loss suffered by affected fishing communities, and assist the remaining fishermen expected to remain in the industry.

Federal Fisheries Minister Ian Macdonald said the move was needed as 14 of 74 commonwealth fish species were classified as over-fished.

While buy-outs would be available to all licensed fishermen, preference would be given to those involved in over-fished areas.

As a result of the move, seafood prices in Australia are expected to rise and fish imports to increase. Several popular local fish species including oreos, the silver trevally and deep-water shark are expected to disappear from supermarkets and restaurant menus by 2007.

Catch of other species including the blue grenadier, flathead, spotted warehou and gummy shark would also be significantly reduced.