HOUSTON, Tx. — January 20, 2015 — The following was released by Omega Protein:
Omega Protein Corporation (NYSE: OME), a nutritional product company and a leading integrated provider of specialty oils, essential fatty acids and specialty protein products, is pleased to report that after more than a year of thorough analysis, the Atlantic States Marine Fisheries Commission (ASMFC) has released its 2014 Atlantic Menhaden Stock Assessment. The assessment indicates that the status of the Atlantic menhaden population is not overfished; nor is overfishing occurring.
"Omega Protein is satisfied that the stock assessment results reflect what so many fishermen, spotter pilots and even environmentalists have witnessed, which is that Atlantic menhaden are quite abundant on the East Coast," said Omega Protein President and CEO Bret Scholtes. "The Company has long been an ardent supporter of cooperative menhaden research and using the best available science to drive fisheries management decisions, rather than political considerations. This assessment should provide confidence to ASMFC Commissioners about the health the Atlantic menhaden stock."
The official status of the stock had been uncertain since 2013, following the failed 2012 stock assessment which produced unreliable results and greatly contributed to the ASMFC's 2012 decision to reduce harvest of Atlantic menhaden by 20 percent. The ASMFC harvest reductions first went into place in the 2013 fishing season and have continued through the 2014 fishing season. The results of this new assessment prove that the stock is currently, and has been, robust for the past decade or longer and was not in decline as many special interest groups had claimed.
The next stage of the regulatory process for Atlantic menhaden is the responsibility of the ASMFC Menhaden Management Board. The Menhaden Management Board will review a number of key issues, such as whether to adjust to the current harvest quota, the appropriateness of the current reference points and the allocation of the quota to the ASMFC member states. The Company expects that the Menhaden Management Board will continue to review these issues throughout 2015 and that any changes to menhaden harvest quota would take effect in time for the 2016 fishing season.
View the full 2014 Atlantic menhaden stock assessment here and for additional information, contact publicaffairs@omegaprotein.com.