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Investing in Guyana's artisanal finfish sector










​Inamdar, N., Tullos Anderson, J., Obregon, P. and VanAnrooy, R. 2019. Investing in Guyana’s artisanal finfish sector. Rome, FAO


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    Book (series)
    Background documents for the Workshop on investing in ecosystem-based shrimp and groundfish fisheries management of the Guianas –Brazil shelf, Barbados, 7-8 September 2015 2017
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    The Workshop on Investing in Ecosystem-based shrimp and groundfish fisheries management of the Guianas –Brazil shelf, was held in Barbados, on 7-8 September 2015. The Workshop was the 1st meeting of the joint Working Group on Shrimp and Groundfish of the Western Central Atlantic Fisheries Commission (WECAFC), Caribbean Regional Fisheries Mechanism (CRFM), and the French Research Institute for Exploitation of the Seas (IFREMER). The workshop discussed the status of the shrimp and groundfish stock s, investment options for shrimp and groundfish fisheries in the sub-region - which comprises Brazil, Venezuela, French Guiana, Guyana, Trinidad and Tobago and Suriname - and opportunities to harmonize fisheries management measures that would increase financial and environmental sustainability of the sector. The experts attending the workshop discussed three background documents on bioeconomic analysis of the fisheries, the current management arrangements as well as a proposal of investment plan for the shrimp and groundfish fisheries in the sub-region; all three documents are included in this volume. Based on these discussions, recommendations were made to increase collaboration in stock assessments of the fish and shrimp resources between the countries, to build capacity to carry out the necessary analyses in support of fisheries management decision making, to develop a regional plan of action to combat illegal, unreported and unregulated (IUU) fishing as well as a sub-regional shrim p and groundfish fishery management plan for the Northern Brazil-Guianas Shelf countries, to finalize a general investment plan and to assist the countries in conducting the necessary feasibility studies for the preparation of full-fledged, location specific fisheries investment proposals. The implementation of these recommendations are in line with the outcomes of the CLME+ project on “Catalysing Implementation of the Strategic Action Programme for the Sustainable Management of shared Living Ma rine Resources in the Caribbean and North Brazil Shelf Large Marine Ecosystems”. As a result, the CLME+ is an adequate support for the execution of a number of management and investment measures that were identified by the regional experts.
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    Informe del taller de inversión en el manejo eco-sistémico en la pesca de camarones y peces de fondo en la plataforma Guyana-Brasil, Barbados, 7-8 Septiembre 2015 2016
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    This is the report of the Workshop on Investing in Ecosystem-based shrimp and groundfish fisheries management of the Guianas – Brazil shelf, which was held in Barbados on 7–8 September 2015. The Workshop served as a meeting of the joint Working Group on Shrimp and Groundfish of the Western Central Atlantic Fisheries Commission (WECAFC), Caribbean Regional Fisheries Mechanism (CRFM), and the French Research Institute for Exploitation of the Sea (IFREMER). Experts from the following countries and regional partner organizations participated: Brazil, French Guiana, Guyana, Norway, Suriname, Trinidad and Tobago, United States of America and Venezuela, CRFM, Caribbean Large Marine Ecosystem Project (CLME+), Caribbean Network of Fisherfolk Organizations (CNFO), Inter-American Development Bank (IADB), IFREMER, Marine Stewardship Council (MSC) and National Oceanic and Atmospheric Administration (NOAA). Staff and resource persons from FAO also contributed. The participants discussed the status of the shrimp and groundfish stocks, investment options for fisheries in the sub-region and opportunities to harmonize fisheries management measures that would increase financial and environmental sustainability of the fisheries sector. The workshop agreed on the new Terms of Reference for the Working Group and working group discussed and agreed on the content of a Draft Recommendation WECAFC/16/2016/-- “On the management of shrimp and groundfish resources in the WECAFC area” to be reviewed and submitted to the Scientific Advisory Group and to the Commission for adoption in 2016.
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    Operationalization of fish auction market feasibility study 2011
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    With an EEZ of 1.9 km2, the Government of Mauritius envisions the land based oceanic industries as a strategy for extracting more value from the ocean to spearhead sustainable economic growth. Development of the seafood hub, the marine fisheries and aquaculture are the landmarks of the aforesaid strategy. In 2007 the Ministry of Fisheries and Rodrigues (MOFR) has precipitated the development of an electronic fish auction market at Fort William without any feasibility study and/or a business mode l. Actually construction works are completed and installation of electro-mechanical and refrigeration equipment is underway at a total cost of Rs 35 million. An additional capital investment of about Rs 15 million would be required for the acquisition of an electronic fish auction system and associated equipment to enable the operationalization of the facility. The parent Ministry reckons that it is not within its prerogative to be directly involved in the operationalization of the fish auction market on account the commercial / business orientation of the latter. It intends to procure a private operator-cum-investor to operationalize the facility through a Public-Private Partnership model. The present study has been commissioned by the MOFR to perform a techno-economic appraisal of the project in view to chart out appropriate operationalization strategies for the project. The fish auction at Fort William is designed to deal in fresh / chilled fish harvested by the domestic fisheries b ut an in- depth supply analysis has concluded that this is not feasible for various reasons. All the same, the facility is not adequately located and equipped to auction frozen by-catch of foreign tuna long line vessels which is available in sufficiently large quantities at the fishing port. Therefore the project is techno-economically unsustainable unless it is overhauled. According to the By-catch regulation 2004, all licensed foreign tuna long line vessels have an obligation to land their by- catch at the Agricultural Marketing Board (AMB) Cold Storage Facility at the fish docks while non-licensed visiting vessels have no obligation whatsoever unless the market conditions are attractive. The total annual supply of frozen by-catch in Mauritius estimated between 4000 and 9000 metric tonnes. To take advantage the market opportunities, the business model of fish auction facility to be adjusted to frozen by-catch trade and in this process the 300 tonne AMB cold storage facility at the fis h docks of Fanfaron will have to be amalgamated with the FAM. The refrigeration system installed at the FAM will be operated as an Ice-flakes Production Unit on a commercial basis. It will cater for effective demand of ice-flakes arising from the artisanal and semi-industrial (chilled) fisheries as well as fish marketing structures in its surrounding. However the administrative centre including the electronic backbone of the auction system will stay at Fort William. S.W.O.T analysis of the proje ct has concluded on two critical points which are: -The frozen by-catch is a secured business under the By-catch Regulations and the Licensing Policies of foreign tuna long line vessels. Government commitment to this project is a key determinant for the success of the project. -The major weakness of the project is the lack of local expertise and familiarity in electronic fish auction that can be obviously compensated by a proven foreign operator –cum-investor through a suitable PPP model or a st rategic alliance by means of a Joint Venture. investment The feasibility study of the FAM is prepared in a conservative approach. The total Public Investment is re- adjusted at Rs 25 million to reflect its actual market value. Additional Private Investment is estimated at Rs 15 million. The opportunity cost of long term public borrowings is taken at 6%, which is slightly higher than current financial market rates and that of the private project loans, at 10%. A weighted mean discounting factor o f 7.75 % is used to examine the Net Present Value (NPV), Internal Rate of Return (IRR) and Break-Even (B/E) points of the project. The life cycle of the project is assumed at 15 years. Supply of by-catch supply for the first year of operation is projected at 1500 metric tonnes with and increment of 10% per year for the consecutive years. The mean market price of by-catch fish species is taken at prevailing international ex-vessel price including a price inflation rate of 5% per annum. Auction fe e is projected at 10 % of the primary sale price. The Ice-flakes Production Unit (IPU) will operate at 50% of its installed capacity which is minimal.

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