Maximizing Resource Rent From the Western and Central Pacific Tuna Fisheries

Rent generated by the tuna fisheries occurring in the waters of Pacific Islands Nations is estimated for various levels and combinations of purse-seine, pole-and-line, frozen tuna longline, and fresh tuna longline fishing effort, using a multi-species, multi-fleet bioeconomic model. The underlying population model integrates available information on the population dynamics of skipjack, yellowfin, bigeye, and Southern albacore tunas in the Pacific Ocean. The economic model utilizes the most recent data on fishing effort costs for the purse seine, pole-and-line, and longline fleets operating in the western and central Pacific Ocean, along with recent estimates of prices by species, method of capture and market, and estimates of demand elasticities. The results of the model indicate that fishery rent could be increased substantially above the current level by decreasing the size of all fleets, with the possible exception of the tuna longline fleet. The results also suggest that the countries of the region could benefit significantly by changing the level and structure of access fees levied as a percentage of total catch revenue.