- 109 - 



this direct benefit to Canada does not equate to a direct 

 cost to the United States, since 70 percent of the Loligo 

 squid in the U.S. zone is currently surplus to estimated 

 U.S. harvesting capacity. In 1978 U.S. fishermen harvested 

 640 tons of squid, although the optimum yield was established 

 at 44,000 tons. In 1979 Loligo squid, worth approximately 

 $29.8 million was made available for harvest by foreign 

 nations other than Canada in the U.S. zone. Based either on 

 actual or estimated U.S. harvests, there is substantial room 

 for U.S. fishermen to expand in this fishery even with 

 Canada's 10-year 9 percent entitlement under the Agreement. 



While the United States eventually may harvest 91 

 percent of the Loligo squid in its zone and be in a position 

 to export some 40,000 tons annually, it is unliKely Canada, 

 with 9 percent or 3,960 tons, will affect either the world 

 price or the ability of U.S fishermen to market their catches 

 overseas. Although Canada has considerable Illex squid in 

 its zone, differences in price commanded by the two species 

 suggest that Illex is less preferred than Loligo and that 

 it may not be a direct substitute in the market place. 

 Lobster 



Data with respect to lobster catches in area 5Ze are 

 incomplete since many lobsters are caught in trawling 

 operations, as opposed to those caught by means of fixed 

 gear, are not reported. As a result, available data from 



