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New England’s Groundfish Economics

  • Identifying business models that may enhance the New England groundfish sector viability and profitability. 
  • Identifying optimum marketing strategies that would sustainably increase landings value and the diversity in employment opportunities for both multi-day trip boats and day boats. 
  • Examining how sensitive the market is to the landings volume and what happens when those landings are redistributed, as they have been under the groundfish industry’s transition to a catch share system.
    • The monthly price of cod landed in New England fluctuates greatly and is quite responsive to changes in the quantities landed (Figure below).

 

 
Figure: Monthly Landings and Prices of Atlantic Cod in the U.S. Source: Personal communication from the national marine fisheries Service, Fisheries Statistics division, Silver Spring, MD.