An ITQ is an Individual Transferable Quota. It is part of a quota system in which the managing agency divides up catch shares of the Total Allowable Catch (TAC) for the fishing season. This essentially, creates a “stock market” like system for the fishery where ITQs can be bought and sold. Setting up this type of … [Read more…]
TAC is Total Allowable Catch. This is the upper limit in the amount of fish, either by weight or number, that a fishery is allocated in a given season or year. TACs can apply to the targeted fish and/or bycatch, where once the limit is reached the fishery is closed for the remainder of the applicable … [Read more…]
A quota is the allowable number or amount of fish that can be harvested in a commercial or recreational fishery. This is a regulatory strategy to limit harvest. They are set each fishing season based on allowance for sustainable harvest (e.g., see Maximum Sustainable Yield). In certain commercial fisheries, quotas are essentially equivalent to a “share” … [Read more…]