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UK fishing opportunities worth over USD 1216 M

Click on the flag for more information about United Kingdom UNITED KINGDOM
Friday, April 12, 2024, 07:00 (GMT + 9)

Fishing opportunities worth over £970 million (USD 1216 M) were secured for the UK fishing industry in 2024, says the government.

During its fourth year operating as an independent coastal state, the UK has secured an increase of around 61,000 tonnes (9%) and approximately £53 million (USD  66.5 M) (6%) in fishing opportunities since last year, following discussions across three key negotiating forums: the UK-EU, UK-EU-Norway, and Coastal State negotiations. This brings the total fishing opportunities secured for the UK fleet in 2024 to around 752,000 tonnes, worth approximately £973 million (USD 1219 M).

Source: SFF

Since leaving the EU, the UK now has a larger share of many of the quotas set at these negotiations, including for Western mackerel and North Sea herring. The UK has secured an estimated additional £132 million (USD 165.49 M) in fishing opportunities in 2024 than it would have received were it an EU member state.

Fisheries Minister Mark Spencer said:

"We are committed to negotiating access to high-value fish stocks that will support a sustainable and profitable UK fishing industry both now and in the future.

"By taking advantage of our position outside of the EU to independently negotiate in our fishing fleet’s best interests, we’ve secured a better deal for our fishermen while continuing to protect our marine environment."

The ‘Economic outcomes of annual negotiations for UK fishing opportunities in 2024’ report outlines the tonnage and value of total 2024 UK quota from all sources. This report was published alongside a report assessing the sustainability of fisheries catch limits negotiated by the UK for 2024.

Source: SFF

The UK takes a rigorous approach to assessing the sustainability of negotiated outcomes, with more stringent reporting than other coastal states. For this year, 46% of total allowable catches (TACs) were set in line with the scientific advice, up from 40% in 2023, making this the most sustainable deal since the UK left the EU.

Source: Gov UK 

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