Estimated impacts of Texas closure regulation on ex-vessel prices and value, 1982 and 1983

Vessels fishing for shrimp in the offshore areas of the north central Gulf of fvlexico reported gross earnings of about $300 million during 1981 and 1982 (Southeast Fisheries Center, National Marine Fisheries Service). Reported landings for 1981 were about 32 percent greater than the 1982 shrimp production, but higher prices during 1982 (Fig. 1) provided the fishery with nearly the same gross revenue in both years (i.e., $305.0 million in 1981 compared to $285.5 million in 1982). During these two years, vessels were prohibited from fishing in the federally controlled Fishery Conservation Zone (FCZ) off the Texas coast from mid-May to mid-July. This regulation, known as the Texas Closure, coincided with the traditional closure of the territorial sea by the State of Texas. Consequently, no shrimp fishing (for brown shrimp) was permitted in any coastal waters along Texas during the early summer in 1981 or 1982.