Summary cost implications of not conducting a November 2024 small pelagic biomass survey with comments on the financial benefits of having conducted the 2024 demersal surveys

The lack of a November 2024 acoustic biomass survey is likely to lead to a loss of revenue for the small pelagic fishing industry in the order of some R 500 million to R 1 billion, depending on the extent to which TACs and TABs are reduced for 2025 to make allowance for the extra uncertainty arising from the absence of a survey. The cost of conducting a November 2024 survey is very small in comparison and of the order of 1 to 3 % of this loss. The Department successfully conducted the 2024 demersal surveys (summer West Coast and autumn South Coast), and inclusion of these data into the hake OMP yielded a TAC recommendation that was 5 000 tons higher than if these data had not been available. A relatively coarse estimate of the value of 5 000 tons of hake yielded a value of R 326 million.