GLOUCESTER (FOX 25 / MyFoxBoston.com) Coastal fisherman say they are about to be trapped in a financial net with no way out due to new regulations.
Workers at Turner's Seafood in Gloucester pride themselves on selling the freshest quality fish from tuna to sole, but they did not have cod in their case on Saturday. Low cod stock and size forced the New England Fishery Council to cut cod limits drastically last week.
The council cut 77-percent in the Gulf of Maine and 61-percent of the U.S. share in George's Bank.
Rhonda Savioe says the move will impact fish lovers.
"The local fishermen are not going to be able to catch what they need to catch," says Savioe. "You know the price will go up."
When cod is in stock, Turner's usually sells their cod at $12 per pound. They expect the price to jump to $16 per pound with the new limits.
The new cut is going to impact the price of fish, as well as cities and towns like Gloucester where the fishing industry is the backbone of the economy.
Dennis Robillard has been fishing out of Gloucester for 25 years. He tells FOX 25 the new limit puts him out of the cod business. He has put his boat up for sale.
"I figured my parents taught me if I work hard you get out of what you put into something, and unfortunately it doesn't seem to be the case now," says Robillard.
The fishery council tells FOX 25 the new limit was set to save what little cod is left. They say if stocks improve, they'll set higher limits.