Effects of Stock Collapse and Management on Price Dynamics of Blackspot Seabream

Stock collapse has profound impacts on ecosystems and fisheries, while the economic impacts have been less studied. The blackspot seabream stock collapsed in the early 1980s and has remain depleted since. The relationship between landings and prices was strongly negative during the decades spanning the collapse (1973–1990) and less during the low stock period with management measures (2003–2020). For other selected species, a significant negative relationship was only found for two species (out of 14) during the earlier period. In contrast, since 2003 prices decreased with landings for most species (10/17) irrespective of their characteristics and their management by a TAC or not. Short-term variations in blackspot seabream prices and landings were also negatively related during the collapse period, indicating rapid market adjustment to decreasing availability. In contrast, in recent years, short-term price variations were not linked to availability change, neither for blackspot seabream nor for most other species (10/17). The study reveals the strong unique effect the blackspot seabream collapse had on price. In the recent period, blackspot became the highest priced fish species in France, making the TAC management essential to limiting catches at sustainable level