Thursday, August 1, 2019

Over $4 mil. in conch exported from The Bahamas

Pintard: The goal is to eliminate the export of conch

Royston Jones Jr.

NASSAU, BAHAMAS — As the government moves to gradually reduce conch exports over the next three years before ultimately banning the export of the fisheries product, data released yesterday showed that nearly 640,000 pounds of conch meat was exported from The Bahamas in 2018.

The exported conch meat last year was valued at $4.48 million.

The royalties from the export amounted to $63,984, the data shows.

The figure is based on the regulated duty rate per pound and does not include other taxes such as stamp tax or value-added tax (VAT).

The data, released by the Ministry of Agriculture and Marine Resources, also showed that nearly 138,000 pounds of conch shells, valued at $29,810, was exported last year.

The royalties associated with the export of conch shells last year was $29,810.

The government has announced plans to marginally decrease the quota of conch exports this year and dramatically reduce exports in 2020 and 2021 in line with the advice of international conservations.  Read more >>