Falklands waters are noted for their squid production. Squid usually account for around 75% of annual catches of some 200,000 tonnes, and are destined for markets in Europe and the Far East. The balance of catches consist of various finfish species including Blue Whiting, Hake, Hoki and Toothfish.
Illex argentinus squid are fished principally by specialist squid jigging vessels from the Far East. Loligo gahi squid are fished mainly by trawlers registered in the Falklands and owned jointly by Falklands and European companies. There are over 20 ocean going fishing vessels registered in Stanley.
Revenue from the sale of fishing licenses has been as high as £20-25M. More recently revenue has declined to £12-15M per annum as a result of several very poor Illex seasons. As a consequence the Illex fishery has been closed early to protect stocks and a significant proportion of the license fees have been refunded. Squid stocks can be quite volatile due to their one year life cycle. Some £5M of fisheries income is spent each year on fisheries protection and research.
To ensure that conservation targets are achieved, fishing effort is controlled by limiting the number of vessels licensed to fish within the zone. Additional restrictions include closed areas and season to protect spawning squid and, in the case of finfish, a minimum mesh size is imposed. Catch data is collected from all vessels on a daily basis.
To protect against poachers, the waters are patrolled by Falkland Islands Government aircraft and an armed fishery protection vessel.
A major review of fisheries policy concluded with agreement on three significant policy initiatives, outlined as follows:
- The development of port infrastructure and services to enable more fishing vessels to use Stanley as their home port, and to develop the range of fishing related activities that could be undertaken ashore, such as services to vessels and storage and processing of catch;
- The development of aquaculture and marine farming, introducing specific legislation to facilitate and regulate development;
- The introduction of a system of transferable rights in the fishery, which will have similarities with the Individual Transferable Quota schemes used elsewhere, but continue to be based on fishing effort. The security and flexibility this will give the industry should lead to significant development making this probably the most fundamental change in the fishery since the introduction of the fisheries zone.
The common theme of all three policy initiatives is to greatly expand the contribution made by fisheries and maritime businesses to the Falklands economy.
Falkland Islands fisheries law was substantially revised and re-stated in 2005; this is the first major revision of fisheries law since the introduction of the Fishing Zone in 1986. The new law enables and regulates the new system of transferable fishing rights. It has also provided the opportunity to update fisheries law incorporating a number of international developments particularly in relation to the conservation of marine resources.
For further information visit: www.fis.com/falklandfish.
