Chile-Decline in fish stocks.

ARGENTINA/CHILE.

DEPLETION OF FISH STOCKS.

The worlds fishing fleets, are losing up to US$50 billion a year because of depleted stocks of fish, according to a new report from the World Bank and UN Food and Agriculture Organization (FAO).

The report launched from the World Bank headquarters in New York this week, has been debated at the World Conservation Congress, in Barcelona Spain.

In essence, the report claims according to one of its authors, Rolf Williams, "the worlds fleets could catch the same amount of fish as is currently being caught, with half the capacity of vessels, which would increase profits as well as putting less pressure on fragile stocks of fish". There are other academics who are pointing the finger at subsidies, that they say "drive the irrational expansion of over fishing".

The report adds, that good management in Australia, New Zealand and Iceland, in conserving stocks, have seen the industry become profitable again