Fishing group Sea Harvest lost about a quarter in operating profit in the first half of 2022 as the government’s Fishing Rights Allocation Process (FRAP) cut its hake volumes and higher fuel prices pushed up operating costs.

Sea Harvest lost about a tenth of its hake allocation and saw a reduction in its total allowed catch through the process by the department of environment, forestry & fisheries, which allocated commercial fishing rights at the end of February to ensure sustainable harvesting of the country’s marine resources while addressing historical inequalities by allowing new entrants...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.