Structural adjustment funds earmarked for South East Trawl Fishery

Assistant Minister Duniam announced $24 million in last week’s Federal Budget to support the structural adjustment of the South East Trawl Fishery.

The package was delivered in response to quotas set for the 2022/23 fishing year announced recently by the Australian Fisheries Management Authority (AFMA) to, “safeguard the sustainability of the fishery”.

Four stocks; Silver Trevally, John Dory, Redfish and Jackass Morwong, will have quotas cut by 609 tonnes combined (86 per cent) because they were not recovering or had declined due to external factors. Jackass Morwong in particular has not recruited (the arrival of juvenile fish) strongly for more than a decade.

These four stocks form only a minor part of the fishery’s total catch but are by-catches of other healthy fish stocks. Future management interventions including closures and quota reductions (to the associated healthy stocks) may be required to keep catches of the four at safe levels.

$20 million of the $24 million total will be spent buying back sufficient trawl vessel permits to ensure the long term sustainability of the fishery.

“These tough management steps are only possible with less but more profitable vessels,” commented Simon Boag, EO of the South East Trawl Fishing Industry Association (SETFIA). ” The speed at which the fishery manager AFMA, the Australian Government and industry have acted in partnership, is testament to the sustainability of Australia’s fisheries.

“SETFIA welcomes the announcement of $3 million in levy relief and $1 million to transition the fishery’s management to that required by a smaller and lower risk fishery.”