Hoki Quota is Cut

The government imposed a 20 percent quota cut on the country's hoki fishery Monday, as it moved to preserve declining stocks, Fisheries Minister Pete Hodgson said.

The move will cost fishing companies more than 80 million New Zealand dollars (US$32 million) this year. Hoki is New Zealand's largest fishery by volume and value.

Hodgson said he recognized a 50,000 metric ton catch cut to a total of 200,000 tons would have a significant impact on the domestic industry. He also reduced catches of orange roughy in two main fisheries.

The hoki reduction is the first step in a “phased management response” to depletion of hoki stocks.

Hodgson said the decisions aimed at ensuring the sustainability of fisheries and the marine environment.

"Overall New Zealand's fish stocks are in reasonable shape and the quota management system puts us ahead of the fisheries management in many other countries,” he said.

Fishing companies expect that foreign trawlers being used in the hoki fishery will be deployed into catching other species like squid and mackerel.

© Associated Press