The rise and fall of the Irish orange roughy fishery: An economic analysis

Publication year: 2011
Source: Marine Policy, Volume 35, Issue 6, December 2011, Pages 756-763

Naomi S., Foley , Tom M., van Rensburg , Claire W., Armstrong

An Irish commercial fishery for orange roughy began in the Northeast Atlantic in 2001 with the assistance of government grants. The fishery began as an open access, non-quota fishery. The rapid boom and bust of many deep water fisheries was experienced. Landings peaked in 2002 and then dropped significantly the following year. Many vessels were forced out of the fishery due to high costs and rapidly declining stocks. By 2005 the fishery was largely closed. Applying a bioeconomic analysis, this paper shows why the fishery no longer exists and discusses both the external and opportunity costs of the fishery. A…