2009/714.10 Decision-support tools for economic optimization of Western Rock Lobster

By Nick Caputi

The Western Rocklobster fishery was one of the first to be made limited entry with the number of licences restricted since 1963. Historically, the main focus of the assessment and management of the fishery has been on the status of the breeding stock to ensure biological sustainability. In the mid-2000s, however, the commercial fishery was facing significant economic pressure from increasing costs, lower prices and reduced catches as a result of low recruitment so there was a need to focus on the economics of the fishery. A bio-economic assessment of the management strategy was therefore important to help facilitate economic optimization of the fishery as well as maintain an adequate level of breeding stock.

This assessment provides a clear demonstration of the economic benefits of fishing at a level close to maximum economic yield (MEY) under either an input or output management regime.