NOAA Fisheries has agreed to extend the existing commercial shrimp permit moratorium for an additional 10 years.
The moratorium was put in place in 2006 because high fuel prices and reduced shrimp prices were hurting the gulf shrimp industry.
Regulators felt limiting the number of shrimp boats allowed to work in federal waters would allow the fishery to again become profitable for the remaining participants.
NOAA Fisheries says the moratorium has also indirectly lowered bycatch levels of juvenile red snapper and sea turtles.
The moratorium on new permits was scheduled to end this year and regulators feared additional boats could lessen profitability for the shrimp fleet as a whole.
Under a new rule that takes effect on August 22nd, the commercial shrimp permit moratorium will be extended for an additional 10 years – until October the 26th, 2026.