THE Falkland Islands government will be setting a Grenadier licensed fishery on a test basis to assess the potential and evolution of the species. The decision was announced by the Falklands' Executive Council after its latest monthly meeting and following the presentation of a paper with the proposition.

"This will be a licensed fishery in the beginning as this will give time to see how it goes before it is brought into the ITQ system", said the Exco report.

There will also be a permanent fishery observer on the vessel taking part in this fishery "as we wish to monitor closely how it goes and also any by catch, especially that of toothfish, which is a high value species that overlap the grenadier fishing ground in places".

The fishery observer will be paid for by the company that holds the licence for the Grenadier fishery so it will not be a financial burden on the Falklands' government.