Weekly Press Review – 20 November 2017

The World Wide Fund for Nature South Africa (WWF-SA) says that West Coast Rock Lobster (WCRL) stock levels are now at an all-time low and could spell the end of the lone for the fishery.

According to the press this follows the Department of Agriculture, Forestry and Fisheries’ (DAFF) decision on the 2017/18 fishing season that the total allowable catch would remain unchanged.

John Duncan, WWF-SA marine programme senior manager, said it was deeply concerning, adding,”This fishery is a critical source of income and livelihood for many small-scale fishing communities in the Western and Northern Cape.  Historically one of South Africa’s most commercially important fisheries, it has declined dramatically over the last 50 years as a result of overfishing to the point where it is now facing the very real threat of commercial extinction within the next five years.”

The share price of South Africa’s largest fishing company, Oceana Group, plunged nearly 14 percent on Friday after it reported that its profits in the year to September had plunged nearly 50 percent.

According to the press the shares on the JSE later in the day recovered to close 6.10 percent down at R80.

 

 

 

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