Harvesting costs and revenues: Implication of the performance of open-access industrial fishing fleets off Rio Grande, Brazil

In order to assess the performance of major commercial fleets, key factors affecting fishing costs and revenues are provided along with a framework to standardize economic knowledge construction in data-poor fisheries, such as South Brazil's. Additionally, the effects of fuel subsidy policies on profitability were further evaluated among fleets. The unprecedented set of field survey data generated by this study revealed that fuel consumption, fish price, and catch volume were the main factors affecting profitability. Annual gross profit was positive for all fleets. Longliners showed the highest gross profit margin (29%), while single-bottom-trawlers, close to unviability, showed the lowest (0.9%). Overall, subsidies were ineffective in increasing Rio Grande fleet gross profits and may be masking poor economic performance, primarily for single-bottom-trawlers. Specific policy advice aiming to protect both economic performance and natural resources are discussed, including the importance of economic data collection and cost-benefit analysis.