The Namibian Cabinet has made a significant decision that will impact the fishing industry in the country. They have approved a Total Allowable Catch (TAC) of 140,000 metric tonnes for hake for the upcoming 2024/2025 fishing season, spanning from November 1, 2024, to September 30, 2025. This marks a thoughtful adjustment from the 154,000 metric tonnes allocated in the 2022/2023 season. The aim? To ensure sustainable fishing practices and align with scientific recommendations for gradual reductions over time.
Emma Theofelus, the Minister of Information and Communication Technology, emphasized the government’s commitment to responsible fisheries management. “Cabinet approved a once-off Total Allowable Catch for Hake to be set at one hundred and forty thousand metric tonnes for the 2024/2025 fishing season and directed the Ministry of Fisheries and Marine Resources to consider a gradual reduction of the TAC over the years to reach the recommendation of the scientists,” she stated.
Fish plays an essential role in Namibia’s economy, ranking as the fourth highest export commodity. According to the Namibia Statistics Agency, fish exports account for a substantial 11% or N0 million of the country’s total exports. Notably, Zambia and Spain are among the prime destinations for Namibian fish, highlighting the country’s critical position in global seafood markets.
However, the industry is currently facing some challenges. The NSA reported a 7.5% decrease in fish export earnings during the second quarter of 2024, dropping to N.8 billion from N.1 billion in the same period in the previous year. Interestingly, fish imports surged by 18.9%, indicating a growing demand that could benefit local suppliers if leveraged correctly.
On a positive note, the quota for total species in the second quarter of 2024 rose by 4.4%, reaching 101,173 metric tonnes compared to 96,909 metric tonnes in the same quarter of 2023. Spain once again emerged as the leading export destination for fish-related products, including crustaceans and molluscs, making up nearly 35% of export volumes.
Additionally, the Cabinet approved a TAC of 180 metric tonnes for rock lobster for the upcoming fishing season. This decision reflects an ongoing commitment to bolster marine resources responsibly, showcasing Namibia’s forward-thinking approach to its fishing industry.
As Namibia promotes sustainable fishing and tackles the intricacies of the global seafood market, stakeholders are watching closely for developments in policy and strategy that could redefine the future of the industry.
Tags: #Tourism #BusinessNews #WorldNews #Namibia #FishingIndustry
