Non-consumptive value of hilsa fishery restoration in West Bengal, India: An application of contingent valuation method

The study focuses on the socio-cultural importance of hilsa fishery in West Bengal, which extends beyond mere sustenance, symbolising heritage, identity, and community spirit, particularly in South 24 Parganas district. As the state fish and a crucial livelihood source for many fishers, grave concerns have recently been flagged due to reduced catches and increased prices, highlighting the need for restoration. This study seeks to measure the non-consumptive value of hilsa fishery by involving 200 participants, 100 fishers and 100 consumers, utilising the Contingent Valuation Method (CVM) with a payment card. Tobit model, income and price elasticity analysis, Mann-Whitney U test, and Independent Student's t-test were applied. The yearly non-consumptive value for hilsa fishery restoration in South 24 Parganas spans from INR 42.75 crore to INR 104.54 crore (approximately US$ 5.13 M to US$ 12.54 M per annum). The presence of distance decay, evident from the negative relation of willingness to pay (WTP) with distance, invalidated statewide WTP aggregation. Extrapolating estimates to nine neighbouring hilsa-producing districts gave estimates ranging from INR 315.63 crore to INR 771.88 crore (approximately US$ 37.9 million to US$ 92.8 million). Results highlight statistical socio-economic differences between fishermen and consumers, signifying diverse perspectives. The Tobit model identifies common factors influencing WTP, including income earners, average family income, and respondents' involvement with NGOs, emphasising the role of socio-economic factors in shaping WTP. Both income and price elasticity of WTP were below one, indicating that economically weaker groups demonstrate a relatively higher willingness to pay for hilsa fish restoration, underscoring their reliance on this fishery for livelihoods. The study proposes that investment of a portion of the estimated non-consumptive value could significantly bolster hilsa restoration, benefiting economically weaker groups, improving overall livelihoods, and safeguarding the cultural heritage.