Latest update April 11th, 2025 9:20 AM
Landmark ‘Cost of Fishing’ study in the region concludes
A landmark study to look at the impact of rising cost factors on fishing operations
Guyana’s Minister of Agriculture, Noel Holder (Third from right); flanked by a CRFM technical team and officials of the Ministry during an engagement last year.
in the Caribbean has been concluded.
The Caribbean Regional Fisheries Mechanism (CRFM), in collaboration with Food and Agriculture Organisation (FAO) of the United Nations (UN), will convene a two-day validation workshop to review the findings and chart the necessary course of action to be taken.
The event will commence tomorrow at the United Nations House in Christ Church, Barbados.
At the upcoming event, CRFM Executive Director, Milton Haughton, will present a general overview of the project and explain what the workshop is expected to achieve. The background, findings, conclusions and recommendations of the study will be presented by Claudia Stella Beltrán Turriago, economic consultant, for final refinement.
The study, carried out in select CRFM Member States, focused on factors such as capital, labor, maintenance and energy costs.
At tomorrow’s meeting, participants will review and finalize the formal report on the findings of the study, as well as propose workable policy options and strategies to improve efficiency, productivity and sustainability in the fisheries sector.
The broader aim is to improve competitiveness and profitability at the local, regional and international levels.
The initiative will also inform strategies to protect against future economic shocks, reduce barriers to market access, and compensate for price fluctuations for fisheries produce by building on the value-added dimension of the industry.
Last May, the CRFM convened a meeting of fisheries experts in Barbados to create a roadmap, including the best methodology for the study. They also selected the beneficiary countries targeted for fieldwork and remote surveys, which entailed surveys of small-scale and industrial fishers, suppliers, traders and exporters.
Later that same month, the consultant commenced field visits to Belize, St. Kitts and Nevis, and St. Vincent and the Grenadines.
Remote surveys were also conducted for Guyana, Grenada, Colombia, and Trinidad and Tobago.
All 17 states which are members of the Caribbean Regional Fisheries Mechanism, as well as countries covered by a UN/FAO project on the Sustainable Management of Bycatch in Trawl Fishing in Latin America and the Caribbean (the REBYC-II LAC), funded by the Global Environment Facility (GEF), are expected to benefit from the broader application of the study’s findings.
The CRFM will prepare a policy brief for action by Caribbean leaders, to highlight the major findings and recommendations, including policy options and strategies to increase efficiency, productivity and sustainability of the fisheries and aquaculture sector, while reducing economic risks.
Earlier this year, Guyana’s Minister of Agriculture, Noel Holder, disclosed that for 2016, Guyana’s fisheries sector grew by 11 percent.
This, he said, was due to the increased focus on aquaculture – which he touted, will become necessary as a substitute for seafood as the marine resources become challenged.
Minister Holder said that there was more detailed planning in 2016 by the Fisheries Department which falls under the Ministry of Agriculture, especially as it relates to aquaculture and small scale fisheries which has seen over 20 new aquaculture farms come on stream.
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