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The Australian Coral Reef Fin-Fish Fishery ITQ Market

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  • The Australian coral reef fin-fish fishery (CRFFF) on the Great Barrier Reef has been managed under ITQs since 2004. A large number of different reef species (>155) are covered by the management plan, but the primary species in terms of value and volume landed are coral trout and red throat emperor. All remaining species are classified as other species for management purposes. The operational side of the fishery is relatively heterogeneous and distinct sub-divisions exist between participants in terms of individual vessel characteristics and the species and product forms landed. The ITQ system has introduced an additional dimension for heterogeneity between fishers whilst also allowing investors not participating in the fishery to hold and trade quota. This analysis uses data on individual level quota holdings and trades to assess the CRFFF quota market and its evolution through time. Fishery level trends in ownership and trade are determined, and market participants are identified as belonging to one out of a set of seven generalized types. The emergence of groups such as investors and lease dependent fishers is clear. In 2010-11 42% of coral trout quota was owned by participants that did not fish it and 69% of total coral trout landings were made by fishers that owned only 11% of the quota. The incentives faced by the groups within the fishery differ, as do their vulnerabilities and resilience to natural or management related changes in the fishery's situation.
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  • Innes, J. et al. The Australian Coral Reef Fin-Fish Fishery ITQ Market. In: Visible Possibilities: The Economics of Sustainable Fisheries, Aquaculture and Seafood Trade: Proceedings of the Sixteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 16-20, Dar es Salaam, Tanzania. Edited by Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2012.
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  • AQUAFISH, USAID, NEPAD Planning and Coordination Agency, Norad, The World Bank, Hyatt Regency Dar es Salaam, NAAFE, World Wildlife Fund, United Nations University Fisheries Training Programme, ICEIDA, JICA, JIFRS, The European Association of Fisheries Economists, International Seafood Sustainability Foundation
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