The Chilean hake fishery is in critical condition due to poor biological stock management according to the country's federal fishing authorities.
Chilean hake accounts for over 70 percent of fresh hake consumption globally. In 2001 the fishery saw peak landings of 121,000 tons. Over the next two years catches remained in the 115,000 ton range.
However, by 2012 catches have plummeted by about a third to 39,721 tons according to Sernapesca.
According to Chile's fisheries undersecretary Pablo Galilea fresh hake fishery management did not focus on sound biological assesments and was managed under political and economic interests.
As for 2013, the current quota is 39,400 tons with just over 67 percent of the alloted volume landed totaling 26,686 tons through August.
Galilea said Chile's new Fisheries Act will address hake management.