AFMA chair, Michael Egan, has announced that a sustainable and more profitable future for the Northern Prawn Fishery (NPF) will be assured through controls that limit fishing effort and maximise the supply to the Australian community.
The new management arrangements will include a minimum catch rate for key species and mechanisms to adjust total annual effort levels to ensure the fishery remains sustainable and profitable, says the Australian Fisheries Management Authority (AFMA).
This decision puts an end to many years of speculation about how Australia’s biggest and most valuable Commonwealth fishery and was based on the outcomes of rigorous scientific and economic analysis and a detailed risk assessment of different management options.
AFMA has been investigating the costs, benefits and risks of managing the NPF under alternative management arrangements since 2007. This investigation followed approximately $68 million of government assistance provided to the industry to help it restructure in late 2006 to become more profitable.
Mr Egan said, “I thank the members of the Northern Prawn Fishery Management Advisory Committee, Northern Prawn Resource Assessment Group, industry and other experts for their contributions regarding the future management of this important fishery.”
