Fisheries study an eye-opener

Headline: Fisheries study an eye-opener

UWI NOTEBOOK

AS national attention focuses on the high cost of food in Barbados, a new academic study has shown that fish sold here increases to as much as eight times its original value between the time it is sold by the fisherman and when it arrives on your plate.

This study entitled The Value of Barbados' Fisheries: A Preliminary Assessment, was conducted by the Centre for Resource Management and Environmental Studies (CERMES) of the University of the West Indies, Cave Hill, in collaboration with the Environmental Special Projects Unit of the Ministry of Energy and the Environment (the funding agency) and the Fisheries Division of the Ministry of Agriculture and Rural Development.

While the value assigned to fisheries in the national economy is often based on the value of the fish straight off the boat, this preliminary study shows that, as the fish moves through various market pathways to the consumer, it increases in value with each transaction, and contributes to livelihoods. It was found that, the overall additional value was about US$19 million, which equated to about 2.6 times the landed value of the fishery. This ranged from zero for sea urchins to about 7.4 times the landed value for flying fish.

This preliminary assessment of additional value was carried out for the major fisheries of Barbados by determining the pathways along which fish moves from fisher to consumer; the amounts moving on each path; and the price increase at each step. The distribution of this additional value among reseller groups varied from being 68 per cent for restaurants, 20 per cent for processors/exporters, eight per cent for fish fryers, three per cent for vendors and less than one per cent for supermarkets.

Researchers say these results suggest that the additional value should be accounted for in assigning an economic value to fisheries and in determining how much the Government should spend on management. They clearly show the need to value fishery products comprehensively, especially in a tourism economy where seafood is an important mainstay of restaurants and fish fry operations.

Work has started on refining this preliminary assessment and on filling several of the information gaps that were identified, such as the value of support services for fisheries. Copies of the study are available and can be downloaded from the publications page at www.cavehill.uwi.edu/cermes