Demonstrating the economic value of fisheries is essential to preserving fishing stocks
Global catch losses from overfishing account for between 7 and 36 percent of the actual fish tonnage landed annually, the economists determined. The value lost from overfishing ranges from USD 6.4 billion to USD 36 billion annually.
Global subsidies totaled USD 27 million in 2003, 60 percent of which was allocated to “capacity-enhancing” subsidies such as boat construction and fuel. The capacity-enhancing subsidies “encourage fisheries to bring in larger catches, contributing to unsustainable fishing practices over the long term,” according to the researchers.
Japan spent the most — USD 4.6 billion — on fishing subsidies in 2003, while China spent USD 4.1 billion. The European Union provided USD 2.7 billion on subsidies, the United States allocated USD 1.8 billion and Russia dished out USD 1.5 billion.
In addition, if they had not been overfished, global fisheries could also have prevented malnourishment for nearly 20 million people globally.
“Whether you are looking at fish as a financial resource or a source of protein, our research shows that the benefits of healthy, robust fisheries have enormous value far beyond the fishing dock,” said Sumaila.
Seafoodnews
Here the full story.
Global subsidies totaled USD 27 million in 2003, 60 percent of which was allocated to “capacity-enhancing” subsidies such as boat construction and fuel. The capacity-enhancing subsidies “encourage fisheries to bring in larger catches, contributing to unsustainable fishing practices over the long term,” according to the researchers.
Japan spent the most — USD 4.6 billion — on fishing subsidies in 2003, while China spent USD 4.1 billion. The European Union provided USD 2.7 billion on subsidies, the United States allocated USD 1.8 billion and Russia dished out USD 1.5 billion.
In addition, if they had not been overfished, global fisheries could also have prevented malnourishment for nearly 20 million people globally.
“Whether you are looking at fish as a financial resource or a source of protein, our research shows that the benefits of healthy, robust fisheries have enormous value far beyond the fishing dock,” said Sumaila.
Seafoodnews
Here the full story.