Resources

Fisheries are resources in the fishing market, which are reducing every day. Human activities are eroding moist of the fisheries through the destruction of fish habitats like the coral reefs. There are plastics, and other sediments people are disposing of in lakes, seas and oceans poisoning the fish and reducing the area they occupy.  Excessive release of ozone gases is leading to a greenhouse effect leading to the destruction of fish habitats. There are also other activities like overfishing which fishers are practicing without knowing that they are eroding the fisheries. Most of the fisheries are left without big and enough fish reducing productivity. The primary challenge of erosion of fishing resources is poor management and lack of information about the importance of fish stock.

Demand and Supply

Fish as a food commodity is reducing every day in the global market because of the mentioned challenges. Most people are storing the little supply they get frozen for an extended period to attract high prices. As a result, the quantity that is in the market is of low quality and perhaps not suitable for consumption. Also, the cost of production is very high leading to high prices of the little supply. The demand for fish is increasing because of the rising population leading to overfishing. Overfishing is making the situation even worse by destroying the fish stock. The increasing demand is also making the suppliers to provide fish meat that is not real, may be combined with other white meat to increase the quantity. Fish meat attracts good profit leading to any activities, which may increase the volume. The market for fish has, therefore, become so rotten because of high demand, which the supply is not able to meet, and the excessive exploitation of the fisheries.

Marginal cost and benefit

The cost of managing fisheries is high and diverse. Most of the fisheries are shared resources, which every citizen own or countries share. It is hard to control such common resources, which require a lot of finances and time to convince people that the government does not want to take the fisheries or privatize them. In America for example, it is estimated that it can take five to fifteen years to take control of the fisheries, a process which may or may not succeed. The diversity of the cultures found in fisheries makes it even more complicated to introduce control because it is not easy to make them agree on standard measures. National waters which give 90 percent of fish requires deep interventions which will make every country satisfied, again, another process which may fail. The cost therefore of managing the market is high in terms of resources and time required to make meetings, which will provide proper guidelines and measures as well as necessary infrastructures.

Market control reduces the number of fish in the market to a supply equivalent to demand preventing attraction of low prices. Also, the control of the market has attracted good prices because fishing is done at the time of the year when the demand is high. Controlled fisheries reduce the cost of fishing because of the presence of big and many fish. There is an increased length of fishing per year compared to a market without control. King crab and the Alaskan halibut fisheries are examples where the fishing season increased by eight months after taking control measures. Injuries and deaths reduce in the fisheries because of reduced population and scramble for populated quotas.

Mussman, Jonathan. “Rotten (2018) – Cod Is Dead, Season 1 Episode 6, Documentary – TV Series.”  Netflix: https://www.netflix.com/gb/title/80146284

The Economist. (February 25, 2012) “How to stop fisherman fishing.”

The Economist. (September 18, 2008) “A rising tide.”

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