Fisheries of Panama, 1971-72

Panama's fishermen landed an estimated 62,400 metric tons of fish in 1971, with an exvessel value of $11 million, reflecting a steady recovery from the sharp decrease in 1969 when adverse oceanic conditions produced an unusually poor catch (fig. 1). Shrimp accounted for 88 percent of the value of all landings and earned $11.9 million in foreign exchange in 1971. Finfish constituted, the bulk of the 1971 landings and most of them were reduced to fish meal and oil; their exports were valued at $1.2 million. In 1971 a sardine canning plant began operations but encountered difficulties in meeting competition. To aid that firm, the government established an import quota for canned sardines in 1972. FAO made a fishery survey in 1972 and found stocks of deepwater red shrimp. A series of laws were passed in 1971-72 regulating the development of Panama's shrimp fishery. Plans to replace Panama's shrimp fleet with 40 new vessels were expected to be implemented in early 1973. 1973 International Activities Staff NMFS (National Marine Fisheries Service) Library Public Domain 1861