Evaluating the economics of the Antarctic krill fishery

CCAMLR must act to conserve Antarctic marine living resources and the Antarctic ecosystem, using the best scientific evidence available. The Antarctic krill fishery has dramatically increased in recent years to more than two-thirds of the trigger level in Area 48, with concerns by most Members that catches at these levels if taken from small areas could impact krill predators. Recent CCAMLR meetings have indicated that the current scientific information on Antarctic krill, the krill-based food web and the fishery is insufficient for some Members to agree to spatial management measures influencing the spatial distribution of krill catch. Critically, the availability of scientific information is dependent on funding scientific activities that are relevant to the decisions being made. This should be part of the cost of managing a fishery. In recent decades, the economics of fisheries has come under the spotlight, particularly in relation to whether those benefitting from the fisheries are making reasonable contributions to their management. In this paper, we assess the economics of the Antarctic krill fishery, the beneficiaries of the fishery, and the costs of producing the scientific information currently available. From this analysis, we recommend that the Commission agrees on a management strategy for which the research needs are identified, costed and implemented, and to which the Commission can commit to fulfilling.