Economic loss of trashfish fisheries in Thailand
1997
Kwankamol Klinsresuk
Fishmeal is an important ingredient for animal feed because it contains the protein essential for animal maturation. Trashfish has been used as a major raw material for fishmeal production. Demand for fishmeal increases due to the growth of the livestock industry. Fishermen increase their trashfish fishing. The trashfish fishing leads to the loss of marine fish resources as well as the economics loss by overexploitation. This study is to find the economic loss of trashfish fisheries in Thailand. The objectives of the study are, firstly, to study the situation of the fishmeal industry and trashfish fishery; secondly, to estimate the economic loss due to overexploitation of trashfish for the fishmeal industry; thirdly, to find the optimal catch and effort in trashfish fishery; and finally; to give some recommendations for government policy on the trashfish fishery with respect to the fishmeal industry. Econometric model has been employed as a tool for analysis. The optimal effort and catch in trashfish fishery at maximum sustainable yield, maximum economic yield, open-access equilibrium yield, and monopoly equilibrium are 7,546.303, 672.913, 983.688, and 421.844 thousand standard fishing hours at the catches of 928,231, 158,162, 226,224, and 100,877 metric tons, respectively. Besides, the catch and effort at present are less than the maximum sustainable yield (MSY). If there is a surcharge imposition introduced on import fishmeal, the optimal effort and catch will change to 7,546.303, 1,243.194, 2,002.304, and 703.543 thousand standard fishing hours at the catches of 928,231, 280,646, 395,145, and 165,011 metric tons. The surcharge decrease the social cost of overexploitation from 1,055.59 million baht to 989.49 million baht.
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