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July 26, 2011

Report: Overfishing cost NE $149M

By The Mainebiz News Staff

New England commercial fishermen lost at least $149 million in 2009 due to decades of overfishing, according to a new report commissioned by Pew Environmental Group, Boston-based division of think tank Pew Charitable Trusts.

The report, "The hidden cost of overfishing to commercial fishing," authored by Oregon-based nonprofit Ecotrust, found that New England fishermen catching cod, flounder, halibut and other groundfish realized just 21% of potential revenues due to low stocks. The report concludes that additional income could have been earned if the fish populations had been maintained at healthy levels. There are more species overfished in New England than other regions of the United States, the report found.

In total, U.S. fishermen suffered an estimated $164.2 million in catch loss due to overfishing, according to the report.

For more on Maine's groundfishing industry, read "Net change | One year into a new groundfishing management system, some see progress, others inequality."

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