Forage Fish dynamics
Forage fish consumption: who consumes, how important is it. e.g. Africa imports more quantity of fish, but of low value. net exports based on value.
food security / undernourished regions
forage fish substitutable? Study in Asia: Pretty inelastic.
income elasticity vs wealth elasticity (not a real difference. but patterns of consumption of a rich person aren’t same as poor person with a windfall, e.g. income != wealth)
Is converting forage fishery to direct consumption the best approach to malnourished (direct consumption raises value? – when is that even possible? technological limitation? how about policy?
Alaska Halibut - regulation was derby-based, all fishing was done in 2 24 hr windows, had to freeze it. Regulation switched to ITQ, and now fished over longer time and could sell fresh.
but fishmeal is elevating prices? - economics may not play out. other demand - vitamins, pet food, bait? elastic/substitutable?
Tim: lobster fishing in Maine act like aquaculture - bait is the major food source, and the population is much larger than natural size. – regulation is like a marine fishery though.