Bio-economic analysis of the Namibian lobster fishery

Abstract

Abstract by author:

The spiny rock lobster fishery in Namibia was established in the 1920s, the fishery was free that many distant fishing fleets were operating in the Namibian water. The resources was severe depleted by the end 1980s. The MFMR [Ministry of Fisheries and Marine Resources] in 1991 established a management scheme that is involved in calculating TACs [Total Allowable Catch] and Msy. TACs were kept low in order to allow the stock to rebuild to the same level as in the 1970s. Harvests for the 1991-2000 were recorded declining because of the previous practices, the adverse environmental condition and the variable level of effort expended to the fishery. The choice of level of effort will determine the harvest yield and the stock size. The Schaefer's bio-economic model is used in this project, to analyze the best exploitation level to optimize societal benefit. The analysis shows that harvesting at Effort of open excess [Access?] (EoA) is bio-economical inefficient because the stock level is reduced and no profit is made from the fishery as total cost equal total revenues. However, Harvesting at Msy [maximum sustainable yield] and Mey [maximum economic yield] is bio-economical efficient because total cost exceed total revenues and there is Maximum profit. But, Msy does not appear to be the societal management practices as it give sustainable yields and profit years after years. Mey is appear to be the appropriate solution to the Namibian lobster fishery because we can increase harvest to maximize profit by limiting the number of traps set to that which maximum profit and societal benefit