Argentina: A measure by the national government for hake fishing was politically celebrated in Buenos Aires

Published 2024년 12월 11일

Tridge summary

The Argentine government has extended the quota system for common hake fishing for 15 years and increased the Single Right of Extraction. The new Individual Transferable Capture Quotas for common hake will be implemented from January 1, 2025, and are expected to boost fishery exports. The quota system had lapsed on December 31, causing uncertainty in the sector. A new fee system is also in place, which will generate $19 billion, half of which will be shared between the national government and provinces, while the rest will be used for fisheries-related expenses.

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Original content

The national government renewed the quota system for common hake for 15 years and also increased the Single Right of Extraction. According to the Ministry of Agriculture, this is a measure that will allow the volume of fishery exports to increase. After learning of this decision, the province of Buenos Aires indicated that the quota system expired on December 31 and that the lack of definition to move forward on this issue "generated great uncertainty throughout the sector." Specifically, the Federal Fisheries Council (CFP) defined the new allocations of the Individual Transferable Capture Quotas (CITC) for the common hake species (Merluccius hubbsi). These will come into effect on January 1, 2025 and will last for 15 years. The measure includes the implementation of a fee, which was not contemplated in the initial CITC process in 2009. Common hake represents the largest volume in Argentine fishing exports According to estimates, the fee will generate income of $19 billion, which ...

Source: Suenaacampo