Economic influences

[pwoodworth-jefcoats]

For the most recent five years in particular, how are economic factors influencing decisions on where to fish? What's driving the shift back towards the SW region away from the NE region? Fuel cost? Price for yellowfin? Amount of yellowfin caught (possibly paired with higher prices)? Things to look into.

[pwoodworth-jefcoats]

From the SAFE Report, starting on page 197:

• For the past 10 years, bigeye revenue has been decreasing while yellowfin revenue has been increasing. That said, bigeye consistently contributes to over half of the revenue and usually over 60%, while yellowfin is closer to 20% (table A-124)
• Across those years, the price per pound has been consistently higher for bigeye than for yellowfin (both prices have fluctuated but neither exhibits a clear trend) See also table A-123
• The primary trip cost in 2024 was fuel (54%) followed by bait (23%)
• Adjusted to 2024 dollars, fuel costs have actually declined slightly over the past decade
• Net trip revenue has generally declined over the past decade (using values adjusted to 2024 dollars)

Catch-wise, beginning on page 93:

• In 2024, Yellowfin catch was about 80% that of bigeye catch, in numbers of fish caught, which was unusually high. Usually it's less than 50%.
• With the exception of 2018, bigeye are consistently larger than yellowfin (total weight / total fish)
• Over the past 10 years, bigeye CPUE has been declining while yellowfin CPUE has been increasing

Short summary: there doesn't seem to be a clear answer here, beyond the fact that (nominal) catch rates for bigeye are declining and (nominal) catch rates for yellowfin are increasing, which is reflected in economic data.