The total allowable commercial hoki catch could be slashed by more than a third in the fishing year starting on October 1, says the Fisheries Ministry.
Hoki is New Zealand's biggest fishery, worth more than $300 million a year in export sales.
Senior fisheries management adviser Jim Cornelius said yesterday that a working group of scientists, ministry representatives and industry and environmental groups was now finalising a stock assessment report.
Research showed not enough juvenile fish were reaching adulthood, particularly in New Zealand's western fish stocks.
It was thought this was due to environmental factors and not simply the result of overfishing.
Over the past five years, the hoki total allowable commercial catch has been cut from 250,000 tonnes to 180,000 tonnes in the year to September 30.
Cornelius said ministry officials were now preparing an "initial position paper" based on the working group's data, which would soon go out for consultation.
It was likely to recommend reducing the total allowable commercial catch to between 100,000 tonnes and 140,000 tonnes.
The decision would have to balance commercial, social and cultural considerations with those of sustainability of the species, he said.
The Fisheries Minister would make a final decision before the new fishing year began.
Hoki Fishery Management Company chief executive Richard Cade said yesterday that any move to ensure the species' long-term sustainability would have industry backing.
But a cut of the magnitude being proposed would have inevitable consequences.
"If the quota was to go down to that level it would cut the available catch by more than a third. That's not going to be easy on the fleet.
"It's going to require companies to restructure and it's going to require companies to look at what they're doing and how they're doing it."
Cade said fishing boats could be tied up or sold and staff laid off.
- NZPA
Hoki catch could be slashed by a third
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