Fisheries Reform: New Deemed Value Rules to Reflect Actual Fish Market Value

Changes to the system that values fish caught by commercial fishers outside their quota allowance will better reflect the actual value of the fish depending on how its landed, Oceans and Fisheries Minister Shane Jones says.

Under the system, commercial fishers who catch fish outside of their quota allowance can sell it but must pay a fee called deemed value.

These fees are generally based on the market value of the fish, taking into account sustainability and utilisation objectives for each stock. The system is designed to ensure all fish are landed and accounted for under the quota management system (QMS), and fishers do not catch more than what is sustainable.

During consultation on wider fisheries reforms, I heard feedback that the one-size-fits-all approach to setting deemed values for fish stocks is not working for some of our most productive commercial fishers.

To ensure a future-focused, flexible fisheries management system, changes to the way deemed values can be set will be included in the Fisheries Act Amendment Bill, Mr Jones says.

Under the current rules, the same deemed value rate for a fish stock must be applied to all commercial fishers.

This means that a standard deemed value disadvantages some fishers because of differences in the value of fish based on whether they are landed fresh or frozen.

Inshore stocks are mostly caught by smaller vessels operating around the coastline. They land the fish fresh, which receives a premium price. For these stocks, the deemed value rates are based on the average market price received for fresh fish.

However, we are seeing a small but increasing volume of inshore fish being taken as bycatch in deepwater areas by vessels which must freeze their catch because of long fishing trips. This process significantly reduces its market value but fishers must still pay a deemed value close to the much higher market rate for fresh fish.

The growing number and wider distribution of these inshore species makes their capture by deepwater freezer vessels more common which can have significant financial impact on these fishers, Mr Jones says.

This change will allow the setting of deemed value rates based on the actual value of the caught fish through alternative rates set for inshore stocks caught by deepwater freezer vessels.

Mr Jones has also decided not go ahead with a proposal for commercial fishers to land marlin bycatch.

As part of wider fisheries reforms, officials tested a proposal to allow for commercial fishers to land and sell marlin under strict conditions. At present, this is prohibited.

However, after weighing up the issue as well as the benefits, I have decided not to allow commercial fishers to retain and sell any bycatch of marlin, Mr Jones says.

He is awaiting advice on the treatment of a number of other species.

The Fisheries Act Amendment Bill will be introduced to Parliament in early 2026. The public will have the opportunity to provide feedback on the bill during the select committee process.