Gulf red snapper: Early model for fisheries

We have been at the forefront of working with fishermen, regulators and Congress to help implement the Gulf of Mexico's first catch share program: a system of "individual fishing quotas" (IFQs) for the overfished commercial red snapper fishery. The program made its debut on January 1, 2007. 

Although it is too early to document the full effects of the new program, and there are still technological kinks to work out, we are pleased that anticipated benefits are beginning to emerge. 

• Snapper fishermen already demonstrated a conservation ethic by supporting a cut in their own catch to give the stock a chance to rebuild. 
• Fishermen have slashed snapper bycatch (undersize and out-of-season discards) by more than 50% because they keep and count the fish they catch now that derby regulations have been eliminated.
• The dockside price of snapper has increased by about 50% over the 2001-2005 average, according to preliminary price data (2007 mid-year). This trend indicates that fishermen can boost prices by better timing their landings and tailoring their catch to meet consumer demands. 
• Snapper quota shares are reportedly selling for $10 to $15 per pound, reflecting that fishermen are beginning to see the fishery as a long-term investment.
• Compliance under the IFQ rules have significantly improved, enforcement officials report, and officials say they have a much better ability to target their efforts on egregious violators. 
• We are now working with other commercial fishermen, shrimpers and recreational fishermen to extend the conservation and economic benefits of catch shares to their fisheries.

Problem: Ecological damage and economic decline

• Traditional fisheries management often results in "derbies" in which fishermen compete, often in dangerous weather, to catch as many fish as possible before the season closes.
• As their catch reaches the market over short periods of time, gluts of fish cause depressed prices, spoilage and waste.
• And as regulators try to stretch seasons by limiting the size of fish captured, and pounds of fish caught per trip, fishermen are forced to throw huge quantities of dead and uncounted fish overboard.
• Many U.S. fisheries, particularly in the Gulf of Mexico, are struggling with overfishing and economic decline due to derby fishing.

Solution: Transforming fisheries through catch shares 

• After many years of scientific and economic research, our experts concluded that "catch shares" are the best tool in most cases to save fish and fishermen.
• Catch shares allocate each fisherman (or group of fishermen) a specific allowance — a fixed percentage of a safe total catch that can be taken from the sea. If a fisherman wants to catch more fish, he can purchase allowances from other boats.  If he wants to catch less or leave the fishery, he can sell his allowances. The value of a fisherman's allowance rises as the fish population improves, giving each a direct economic stake in the health of the fishery.
• By adhering to these catch shares, fishermen help regulators acquire accurate landings data, translating into better fishery management as opposed to the rampant overfishing experienced prior to the implementation of catch shares.
• Catch shares are used in leading fishing nations like New Zealand, Iceland and Canada where fisheries are growing in value and the fish populations are stable or growing. The U.S. has a few catch share programs for species such as Alaskan halibut and sablefish.