42 



Of traditional food fish species (such as haddock, pollock, cod, ocean perch 

 and all flounders) the U.S. now has 85 percent of the total quota from 

 Virginia north to Maine. These stocks should slowly improve under U.S. 

 management, but exclusion of the foreign fleet may not result in an imme- 

 diate significant increase in landings of traditional food-fish. 



For fisheries development potential, the U.S. must examine the large 

 fish stocks which the foreigners currently utilize, and determine whether 

 these can be utilized by domestic fishermen, or what might be necessary to 

 stimulate a domestic interest in these stocks. The stocks in question are 

 the following five: squid, herring, mackerel, whiting, and red hake, 

 (i) Squid 



Another factor which can be intimately connected with fisheries develop- 

 ment and technology transfer is institutional barriers. A barrier to domes- 

 tic development of the New England squid resources, for example, is a 30 

 percent tariff on imports to the Spanish market. The current squid quota in 

 the Northeastern U.S. is 60 thousand metric tons (about 132 million lbs). 

 The squid stocks are currently harvested by Spain, Japan, and the USSR; by 

 the latter country particularly for export purposes. The squid resource 

 consists of summer squid and winter squid which are distinct species. The 

 United States does not have a directed fishery for squid in the Atlantic; 

 what is landed is basically an incidental catch. The domestic market is 

 rather small and price inelastic. Consequently, when landings are low the 

 price is high while in early summer "the bottom falls out of" the market. 



In the Mediterranean area, particularly in Spain and Italy, squid is 

 a high priced species, and in most years this area could be an attractive 

 export market. We do not know, however, what catch rates can be obtained 

 by U.S. vessels, the cost of a directed fishery for squid, or the price 

 which has to be received to be competitive with other fisheries. It is not 



