The anatomy of a multispecies Individual Fishing Quota (IFQ) "Market" in development / Daniel S. Holland and Karma Norman.

Format:

Book

Government document

Author/Creator:

Holland, Daniel S., author.

Norman, Karma C., author.

Contributor:

United States. National Marine Fisheries Service, issuing body.

Series:

NOAA tech. memo. NMFS-F/SPO ; 158.

NOAA technical memorandum NMFS-F/SPO ; 158

Language:

English

Subjects (All):

Individual fishing quotas--United States.

Individual fishing quotas.

Individual fishing quotas--Economic aspects--United States.

Trawls and trawling--United States--Management.

Trawls and trawling.

Fishery management--Economic aspects--United States.

Fishery management.

Fishery management--Economic aspects.

United States.

Physical Description:

1 online resource (vi, 30 pages) : illustrations (some color).

Place of Publication:

[Silver Spring, Md.] : U.S. Department of Commerce, National Oceanic and Atmospheric Administration, National Marine Fisheries Service, 2015.

Summary:

In 2011 an individual fishing quota (IFQ) system was implemented for the limited entry trawl component of the Pacific groundfish fishery in the United States as part of a fishery rationalization program that included cooperatives for the at-sea whiting component of the fishery. The IFQ system allocates quota shares (QS) for 29 IFQ stocks and individual bycatch quota (IBQ) shares for Pacific halibut. Each year quota share owners are issued quota pounds (QP), which can be used to balance their own catches of IFQ species or can be traded or sold. Transferability allows QP to be acquired by the fishermen who can generate the most value with it. The complex multispecies nature of this fishery and the requirement to balance all catch with QP makes QP transferability a critical part of this IFQ system, since fishermen have limited ability to control the species composition of their catch and may need to acquire QP to cover unplanned catch. Although a web-based system was created to enable QP transfers, this did not create a functional QP market automatically. Rather the market (and a variety of other mechanisms for distribution of QP) is developing organically as quota holders, fishermen, and intermediaries develop trading and contractual relationships, and as QP values are determined and evolve. We describe the structure of the QP market, how it has developed, and how it is performing. We discuss the impediments to QP market efficiency and make recommendations on how more efficient multispecies markets might be facilitated in this and other multispecies IFQ fisheries.

Notes:

Title from title screen (viewed Oct. 15, 2015).

"September 2015."

Includes bibliographical references (page 30).

Other Format:

Print version: Holland, Daniel S. Anatomy of a multispecies Individual Fishing Quota (IFQ) "Market" in development

OCLC:

924869253