How The U.S. Went From Overfishing To Underfishing
The wildly diverse fishing industry may be the only food product that relies on the cycles of nature. In 2020, the global fishing industry reached an all-time record of production worth an estimated $406 billion, according to the Food and Agriculture Organization of the United Nations.
The industry changed after the fish stock collapse in the 1990s, which was partially due to overfishing. In the U.S., an estimated 90% of fisheries are now sustainably managed. As of June 2020, 47 fish stocks have been rebuilt. Now, underfishing, which occurs when fish are harvested at a rate lower than would produce maximum sustainable yield, has become common in the U.S. America imports anywhere from 70% to 85% of its seafood, according to NOAA. In 2020, the national seafood trade deficit was $17 billion.
Some supply chains are murky. Many countries don’t have data on trends and stocks because they don’t have management systems in place, according to the FAO. The United States imported $2.4 billion worth of seafood from illegal, unreported and unregulated fishing in 2019, accounting for about 11% of total U.S. seafood imports, according to the U.S. International Trade Commission.
Watch the video above to learn more about the U.S. fishing industry, market forces at play, the difference between overfishing and overfished, the role of climate and crime in global supply chains of seafood and what solutions may be on the table.
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
Why U.S. Seas Are Underfished
Watch video How The U.S. Went From Overfishing To Underfishing online without registration, duration hours minute second in high quality. This video was added by user CNBC 05 October 2022, don't forget to share it with your friends and acquaintances, it has been viewed on our site 227,42 once and liked it 3 thousand people.