Analysis of Incorporating Market Prices into Stock Assessments for the Japanese Flying Squid (Todarodes pacificus)

This study aimed to evaluate the stock status of the Japanese flying squid (Todarodes pacificus), a critical fishery resource in the waters of Korea, China, and Japan. To achieve this objective, we employed the Bio-Economic Stock Assessment (BESA) model, which integrates catch and market price data to estimate the biological and economic parameters of Japanese flying squid biomass. The assessment results indicated that the current biomass level of Japanese flying squid is below the biomass at Maximum Sustainable Yield (BMSY), suggesting that the stock is overfished. Moreover, the findings from the BESA model were consistent with results obtained from the Monte Carlo Method (CMSY) and Bayesian State-Space (BSS) models, both of which also indicated a collapsed status. Unlike the CMSY and BSS models, which rely on catch and catch per unit effort (CPUE) data, the BESA model utilizes market price data from National Statistics and the Food and Agriculture Organization (FAO), thereby eliminating the need for CPUE standardization. Consequently, the BESA model presents an alternative framework that complements existing assessment methods and enhances the reliability of fishery stock evaluations through its integrated approach, suggesting its potential applicability to the stock assessment of Japanese flying squid in Korea.