Management of Herring, Capelin and Cod in the Greater Barents Sea - Economic Optimal Managment from a Norwegian point of view

• Main Author: Helstad, Kjetil
• Other Authors: Shriver, Ann L., Johnston, Richard S.
• Format: Conference Object
• Language: English; unknown
• Published: International Institute of Fisheries Economics and Trade
• Subjects: Barents Sea; Norwegian Sea; Norway; Tac; Gadus morhua
• Online Access: https://ir.library.oregonstate.edu/concern/conference_proceedings_or_journals/g732d991x

In this paper the Norwegian economic gains / costs of rebuilding the Norwegian spring-spawning herring (Clupea harrengus) is analysed by including the effect of the herring stock on the cod (Gadus morhua) and capelin (Mallotus villosus) fishery in the Barents Sea. The herring stock collapsed in the late 1960's and went through a rebuilding period until mid 1990's. The size of the herring spawning stock affects the productivity of cod and capelin. The effects are analysed by combining the existing bioeconomic model for the Barents Sea (AGGMULT/ECONMULT) and a bioeconomic model for herring in the Norwegian Sea. Two management strategies for herring are studied under different levels of cod TAC: 1) The possible harvest control rule proposed by ICES (ICES), and 2) The herring stock is kept at a low level (Low). Present value of contribution margin in the cod fishery and especially capelin fishery increases when the herring stock is at a low level. The reduction of present value of the contribution margin in the herring fishery in the Low strategy causes the total contribution margin to decrease compared to a large herring stock (ICES). In the low herring stock simulations a large herring fishery takes place in the beginning to reduce the herring stock. If this fishery is not included, the difference in total contribution margin increases a lot. Simulation results show that it is not economic optimal for Norway to reduce the herring stock and by the increase the economic gains from cod and capelin fishery. Keywords: Economic multispecies management, cod, herring, capelin