Break-even analysis for a green crab fishery in PEI, Canada

The Department of Fisheries and Oceans in Canada is experimenting with a commercial fishery on the European green crab (Carcinus maenas), an invasive species in North America, to help reduce the negative impact this animal has on ecosystems and native shellfish populations. We determined the break-even price that fishers would require for green crabs under different fishing scenarios (i.e. different gear and catch per trap per day). We also determined, for a 21 day season, the minimum catch per trap per day for fishermen to break even at market prices of $0.50/lb,$1/lb, and $3.50/lb. Several scenarios were profitable, but our results suggest the price of crab (dockside) would have to be sufficiently high to motivate fishers to continue the fishing pressure needed to reduce populations of this invasive species. The most economically profitable scenario was a fyke net by-catch fishery, similar to what currently exists on Prince Edward Island during the eel fishing season.