Economic feasibility of an experimental octopus fishery in South Africa.

Octopus vulgaris was identified as a new marine resource to be commercially exploited through an experimental fishery. A recent policy on developing fisheries in South Africa emphasizes the importance of investigating the economic feasibility of a fishery as part of its management framework. The study reported here generated baseline information necessary in the design of the experimental fishery, giving guidelines as to which vessels, fishing gear and markets would be most feasible. The proposed fishery, gear and vessel type, fishing techniques and expected catch rates are described, the results of market research are outlined, and the cost of fishing is estimated. The potential business should consist of small and medium-sized vessels deploying unbaited pots attached to long lines. The longline pot fishery could be economically feasible, provided a 30% catch in 6600 pots/month is attained. Only existing, debt-free vessels should be used. The minimum catch per unit effort (CPUE) for various fishing operation scenarios was calculated to determine economic feasibility. This is an estimated minimum CPUE, based on assumptions that cannot be confirmed until the fishery starts. Furthermore, this economic analysis also needs to be assessed by stakeholders with experience of fishery operations. [ABSTRACT FROM AUTHOR]