FISHERY PERFORMANCE AND THE VALUE OF FUTURE ENTITLEMENTS UNDER QUOTA MANAGEMENT - A CASE-STUDY OF A HANDLINE FISHERY IN THE SOUTHWEST INDIAN-OCEAN

Bio-economic analyses indicate that the catch from the handline fisher y on the Saya de Malha and Nazareth Banks (in the southwest Indian Oce an) is about equal to the estimate of maximum sustainable yield, and t hat the maximisation of fishery profit could be attained from roughly one-quarter of the contemporary fishing effort. The consequence of imp lementing quota management (ITQs) to effect an appropriate increase fr om the prevailing near zero fishery profit is investigated. Also inclu ded is an assessment of the likely value of future entitlements to eng age in the fishery following the introduction of this form of manageme nt.