FISHERY IMPROVEMENT PROJECT (FIP)
Tequesta Bay® Foods is a participant in the Bahamas lobster fishery improvement project. Our company has always sought to do the right thing with the seafood we purchase. We require our suppliers to comply with all applicable laws for the products we purchase and also commit to further the environmental and social sustainability of their local fisheries. However, a group effort can make a bigger difference on the broader challenges of an overall fishery. That is why we partner with other stakeholders in a fishery improvement project.
The Bahamas spiny lobster fishery exports the majority of its product to the United States and Europe for an estimated $80 million. Thousands of Bahamians earn a livelihood fishing for lobster on a full or part-time basis.
Critical issues challenging this fishery include: government capacity to address illegal, unreported and unregulated (IUU) fishing; adopting a harvest strategy; reviewing management performance; and collecting reliable spatial catch data. The active involvement of FIP Stakeholders, including the Bahamas Marine Exporters Association (BMEA), the Department of Marine Resources (DMR) and The Nature Conservancy (TNC), and FIP Participants drives improvements against the Marine Stewardship Council standard.
By working together with other stakeholders, we are helping to improve the fishery for everybody.