Yahoo Finance California woman fined $88K after her kids took clams from the beach. Here's how to profit from seafood legally
The next time your kids want to collect seashells at the beach, make sure they are gathering actual seashells. Otherwise, that fun little family excursion could prove costly, as one Fresno, California, woman found out.
Charlotte Russ took her family to Pismo Beach at the end of 2023. Her kids mistook a bunch of clams — which are subject to regulations — for seashells.
“My kids [thought] they were collecting seashells, but they were actually collecting clams; 72 to be exact,” she told ABC 30.
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Russ received a ticket on the spot, but the real shocker came later when she was notified of the exact amount of the fine — $88,993.
“It made me really sad and depressed, and it kind of ruined our trip,” she said.
Fine reduced
Lt. Matthew Gil of the Department of Fish and Wildlife explained to ABC 30 the reasoning behind clam regulations.
“We have to let [the clams] get to four-and-a-half inches so they can spawn,” he explained, adding that the hope is that the clams “can have offspring every year.”
To avoid fines, it's important to know what is permissible to collect at any given beach and what is not.
Fortunately, Russ did not have to pay the full $88,993 fine. After she explained the clam mix-up to a San Luis Obispo County judge, her fine was reduced to $500.
Still, Russ remarked that it was “definitely an expensive trip to Pismo.”
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Reeling in the profits?
Russ’ experience at Pismo Beach highlights the importance of understanding regulations when dealing with seafood.
However, the seafood industry can also offer intriguing opportunities for investors. Research from McKinsey & Company indicated that global demand for seafood is rapidly increasing, with supply struggling to keep up — especially for the more popular species, such as salmon.
Investors looking for exposure to the industry can start by researching publicly traded companies that are involved in seafood production, processing and distribution.
When investing in seafood, it’s important to understand the difference between wild fisheries and aquaculture (fish farming), as these segments have distinct market dynamics and regulatory considerations.
Different types of seafood also have varying market demands and profitability. For instance, salmon is highly popular and often farmed. Companies like Mowi ASA and Leroy Seafood Group are notable players in the segment. Meanwhile, shrimp is a major global commodity with significant farming operations, particularly in Asia.
It’s important to note that many seafood companies are not based in the U.S., nor are they listed on U.S. stock exchanges, so investors may need a specialized broker to get a piece of the action.
By diversifying their portfolio across different segments and geographical locations, investors can mitigate risks and capitalize on the growth potential of the global seafood industry.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
