Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


'If a Spanish vessel catches fish here it doesn’t pay a tariff to enter Europe; if it is a Falklands flagged vessel it will pay a tariff direct to EU'

How tough Brexit could be on Falklands’ Loligo industry?

Click on the flag for more information about Falkland Islands FALKLAND ISLANDS
Monday, July 15, 2019, 22:30 (GMT + 9)

Penguin News recently reported on the uncertainty surrounding Brexit causing a slump in meat sales from the Falkland Islands Meat Company and lower prices. Following on from this MLA Roger Spink spoke to the Editor of Penguin News about the potential wider impact of Brexit on the Falkland Islands fishery (lucrative Loligo squid is sold into the EU) and in turn the Falklands economy and asked what is being done to mitigate the impact.

MLA Spink began by putting in context the situation surrounding the Meat Company.



He said: “This was just a reaction of buyers over there; it’s a short-term thing. From the Falklands ‘big picture’ situation it’s a big deal for FIMCO but it’s not a big deal for the Falkland Islands Government.”

He said even if FIMCO had greater problems in the future “we’ll be able to sort it out.” He acknowledged, “it’s a greater issue with the Loligo. But what we also have to remember is not all of our revenue comes from that.”

He explained that Illex goes to the Far East and Toothfish to the US (“so that’s in dollars”).

“We also get a large amount of our revenue from our reserves and the interest and capital gains on that money. So the Government has a broad range of places where it obtains its revenue.”

Fishing trawler 'Gueldo' of Marfrio Group, with registration in Port Stanley of Falkland Islands, unloading Loligo season in 2018 at Vigo Port

Loligo

The issue said MLA Spink is the Loligo - this involves Falklands companies having Joint Ventures with Spanish Companies and the exports go to Europe “and that is where we could get between 6 and 18% of a tariff on those exports.” (Meat has a much higher tariff).

He reminded however: “If a Spanish vessel catches fish here it doesn’t pay a tariff to enter Europe; if it is a Falklands flagged vessel it will pay a tariff direct to Europe. So there are various ways people may choose to mitigate the impact of any tariff.”

He said the best-case scenario of course would be an agreement where the Falklands would be tariff free.

What about a worse-case scenario, we asked. The highest possible tariffs are imposed. To what extent will that impact on the fishing industry and FIG?

“Even the worst case is very difficult to quantify,” said MLA Spink, “it depends on how much it does affect us and how much the market will absorb and how much of that tariff will be paid by the European consumer and how much is taken up by our industry.

“But I don’t think it is anything we need to panic about now; I think we need to work hard at making sure we minimize any tariffs that are introduced but at the same time look at ways of mitigating that.”

Falkland Islands fishing companies dedicated to Loligo squid

He also noted that the UK government had “expressed a willingness to try and assist us get over any short term differences.”

In any case, he said, “if the UK comes out of the EU in October we’ve probably still got a year’s worth of leeway for the next season which is January to March; we’ve got some time to try and put in place some measures.”

But it looks like a ‘no deal’ might be a reality? MLA Spink said: “Well it will be great if there’s a deal that could include us continuing to have a tariff-free access. But if it doesn’t have that in there we need to jump up and down and follow up on the contacts we’ve already made – very good contacts to try and maintain that tariff-free entry.”

Photo: Pescapuerta

Penguin News asked, so there’s not going to be a situation in a worst-case scenario where the Falkland Islands Government has to start thinking about things as serious as redundancies, as has happened in the past?

No, said MLA Spink, “as a Government we’ve been fairly prudent over the years. We have our two and a half times reserves and that’s what it is meant for.

Hopefully this will be a short-term issue and that is what we have the reserves for; we are not expecting to have to make any knee-jerk reactions.

But tariffs are not a short-term problem, commented PN MLA Spink said: “No but there are various things you can do to mitigate the tariffs. And we would expect to have to do that.”

Photo: Armadora Pereira

He indicated that re-flagging might be one move but said he did not know what all of the actions would be that would be taken by the fishing industry “but the government and the industry would work hard together to make sure they minimise the effect on the economy.”

He added: “Also if you are a Spanish consumer do you want the price of your fish going up? “And you can look at the blackest side of this but when it comes down to it, is it in their interests [the EU’s]? The industry has Falklands’ partners and Spanish partners and the Spanish partners own the largest part of those companies. So actually, it is in their interests not to have tariffs.”

In 2017 the Eurpean Union was the destination for 94% of the Falklands fisheries exports and one third of the Falklands meat exports.

Source: Penguin News (Read the whole story here)


[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Norway
Nov 20, 20:40 (GMT + 9):
Fish Pool Salmon Price Status Report for week 47
United States
Nov 20, 16:50 (GMT + 9):
Official data on production, prices, markets and destinations of Alaska Pollock surimi
Japan
Nov 20, 16:40 (GMT + 9):
Official data for fresh and frozen import tuna
United States
Nov 20, 07:05 (GMT + 9):
IN BRIEF - Canned Tuna Maker Bumble Bee Preps for Bankruptcy Filing
North Korea
Nov 20, 06:20 (GMT + 9):
Fisheries industry seems part of Kim's drive to build economic independence
European Union
Nov 20, 06:20 (GMT + 9):
Council calls for inmediate action to protect oceans and seas threatened by climate change (Video)
United States
Nov 20, 06:00 (GMT + 9):
IN BRIEF - An exciting display of advanced fish processing technology in Seattle
Republic of Ireland
Nov 20, 06:00 (GMT + 9):
Mowi's EUR 22m investment plan under threat due to licence regime
European Union
Nov 20, 05:30 (GMT + 9):
European fisheries sector advocates ‘balanced’ measures for bigeye and mako shark
Portugal
Nov 20, 01:20 (GMT + 9):
BioMar Group Press Release: Restoring Abundance to our Oceans
Canada
Nov 20, 00:20 (GMT + 9):
Three Cermaq salmon farms suffer mortalities due to algae blooms
Italy
Nov 20, 00:10 (GMT + 9):
New global atlas analyses AIS use to monitor fishing activity
Norway
Nov 20, 00:00 (GMT + 9):
Skretting will soon launch new feed concept 'fully optimised' for RAS
Peru
Nov 19, 21:10 (GMT + 9):
Second anchovy season begins with ‘historic minimum incidence of juveniles’
Chile
Nov 19, 21:00 (GMT + 9):
New suspicion of ISA in Magallanes farming center



Lenguaje
FEATURED EVENTS
  
TOP STORIES
FDA recommends discarding or destroying yellowfin tuna imported from Truong Phu Xanh Co., Ltd
United States FDA and state health authorities are investigating incidents of scombrotoxin fish poisoning linked to yellowfin tuna, also sometimes called ahi tuna. As a result of this investigation, FDA has placed ...
Pirates in the Gulf of Mexico pretend to be fishermen and surprise their victims
Mexico The average monthly robbery in this year is 16, while in 2018 it was 144 cases, while in 2017 there were only 48 incidents Insecurity in Mexico has already reached sea levels. The assault this week o...
You don't eat black headed shrimp? Experts set out the reason for the 'black change': eat calmly
Taiwan When winter comes, the hot pot is more popular with the public, and meat and seafood are basic. It is only the shrimp that everyone puts most commonly in this country. Recently, the Internet has begun...
First Falklands' fishing company signs the 51% Joint Venture shareholding under the new ITQ criteria
Falkland Is. Ahead of the Falkland Islands Government Executive Committee decision recently setting out new criteria for Individual Transferable Quota (ITQ) extensions from 2021 to 2046 Beauchene Fishing Co Ltd an...
 
Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim Ltd (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2019 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER