ON THE RESUMPTION OF COMMERCIAL WHALING - THE CASE OF THE MINKE WHALEIN THE NORTHEAST ATLANTIC

The International Whaling Commission (IWC) met in Reykjavik, Iceland. in May 1991 to determine whether the five-year moratorium on commercia l whaling, implemented in 1986, was to expire or be extended. Japan, I celand and Norway sought to resume commercial whaling on stocks of fin and minke whales, which they regard as capable of supporting commerci al harvest without risk of extinction. The IWC voted to extend the mor atorium at least one more year. Iceland has subsequently withdrawn fro m the IWC, and Norway and Japan are also considering withdrawal. A bio economic model is constructed that might be used to manage the industr y if commercial whaling is resumed. It is applied to the stock of mink e whales in the Northeast Atlantic. The optimal stock and level of har vest depends on eight bioeconomic parameters. For a fleet with average productivity, the stock ranged from 81 052 adult whales. supporting a harvest of 137 animals, to 57 770 adult whales, supporting a harvest of 1675. The price/cost ratio will be important in determining the opt imal stock and the long-run viability of whaling.