MyUSTINET News: Lifted Ban Gluts Turkish Anchovy Market

ISTANBUL, Turkey, May 30 (UPI) -- Lifting an anchovy fishing ban in Georgian waters caused fisherman to flock to the area, glutting the market, the Turkish government said.

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Fishermen ended up throwing fish away after an excessive harvest that filled 20 fish houses to capacity and depressed prices, the Turkish Daily News reported.

Financially stressed fishermen have asked for an extension on loans, which would require cabinet-level approval, the Daily News reported.

The fishermen are awaiting word. "We had no reply yet. We are ready to pay the interest but we want an extension to pay back the debt", said Ali Guney, deputy chairman of the Fishery Products Cooperative Society in Istanbul.

"Fishing boats are no longer efficient due to increased oil prices", said Niyazi Onen, president of Fishery Industrialists.

"Their number is expected to decrease in the near term", Onen said.

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Lifted ban gluts Turkish anchovy market