Among the most expensive fish in the world, alongside culinary rarities such as Japan’s fugu fish, the Chilean seabass, also known as the Patagonian toothfish or “bacalao de profundidad,” commands a price of over $20 per kilogram. This sought-after delicacy, found on the menus of high-end restaurants in California, New York, and Tokyo, faces numerous challenges before reaching consumers’ plates.
The Perils of Deep-Sea Fishing
Chilean seabass is caught in Antarctic waters at depths exceeding 2,000 meters. The fishing process itself is fraught with difficulties, as orcas and sperm whales have learned to prey on this valuable fish by following fishing vessels, a behavior observed in recent decades. These marine predators pose a constant threat, often seizing the fish directly from longlines before they can be retrieved by fishermen.
Despite the high market value of the Chilean seabass, the fishing industry is currently at risk. According to Eduardo Infante, General Manager of Globalpesca and President of the Association of Patagonian Toothfish Operators (Aobac), regulatory decisions have significantly impacted the sector.
A Severe Reduction in Fishing Quotas
In recent years, fishing quotas have been drastically reduced. In 2015, the permitted catch was set at 1,100 tons—a third of previous allowances—which has already been reached. Infante criticizes this decision, explaining that it was based on a study conducted by the Chilean Institute for Fisheries Development (IFOP). However, he argues that international research, including work led by Australian scientist Dr. Tom Polacheck, has discredited the IFOP study, indicating that the data used could be harmful to the industry.
Furthermore, Infante points out that the oversight committee responsible for monitoring the implementation of these regulations has not yet been established, despite legal requirements mandating its formation. He also argues that the real-world evidence contradicts the imposed restrictions, as fishermen continue to catch large specimens, with processed fish over 15 kilograms accounting for 50% of the total catch.
Argentina’s Contrasting Approach
While Chile has faced severe quota reductions, neighboring Argentina has increased its fishing allowances for the Chilean seabass. This discrepancy raises questions about the sustainability of current regulations in Chile. Infante acknowledges the importance of managing fish stocks based on scientific principles to ensure long-term sustainability. However, he insists that recent scientific findings suggest the resource remains abundant, contradicting the imposed limitations.
Chile’s Role in the Global Market
Chile contributes approximately 12% to 15% of the global Chilean seabass supply. In addition to Globalpesca, companies such as Pesca Chile and Pesca Cisne (owned by Spanish investors) also hold licenses to fish for this valuable species. Other nations involved in Antarctic seabass fishing include France, Argentina, Australia, and the United Kingdom, particularly in the waters surrounding the Falkland Islands and South Georgia.
In 2014, Chile exported $63.3 million worth of Chilean seabass, with more than half of these exports destined for the United States. However, the quota reductions have taken a heavy toll on the industry. Infante states that the fishing sector cannot survive under such restrictive limits. Many vessels have already ceased operations, leading to economic difficulties for those dependent on the trade.
The Economic Impact on Punta Arenas
The fishing industry plays a vital role in the economy of Punta Arenas, a key fishing hub in the Magallanes region. Infante estimates that around 300 workers rely directly on the Chilean seabass industry, while an additional 2,000 are employed indirectly. The industry contributes approximately $10 million annually to the local economy. However, the quota reductions have led to widespread job losses among dockworkers and fishing crews, exacerbating economic challenges in the region.
Globalpesca, once a thriving business, exemplifies the industry’s decline. The company’s best financial year, 2011, saw revenues of $27 million. By 2014, sales had dropped to $18 million, and projections for 2015 indicated a further decline to $10 million.
Hope for the Future
Despite these difficulties, there is some optimism within the industry. New scientific studies indicate that the Chilean seabass population is in good condition. Infante remains hopeful that the Technical Scientific Committee, which is responsible for setting fishing quotas, will review and adjust its decisions for the coming years.
“The new research gives us a small light at the end of the tunnel,” Infante states. “We hope that the committee will reconsider its decision because the current situation is unsustainable.”
The future of the Chilean seabass industry hinges on finding a balance between conservation and economic viability. As new data emerges, policymakers and scientists must work together to ensure that fishing regulations reflect both the sustainability of the species and the livelihoods of those who depend on it. Until then, the Chilean seabass remains not only one of the world’s most expensive fish but also one of the most contested resources in the global seafood industry.
