Lipstick glides on smoothly, specialized paints repel water and metals resist rust thanks, in part, to menhaden.

The small fish, known locally as bunker, is no longer popular dinner fare, but is valued for its commercial uses.

Fisherman between Maine and Florida harvest more than 200,000 metric tons annually, with New Jersey accounting for about 10 percent of that.

About 40 percent of the catch is sold as bait, mostly for stiped bass and bluefish. The rest wind up at reduction plants and are processed into fish oil for nutritional supplements or consumer products and fishmeal for livestock feed and pet food.

This week, the Atlantic States Marine Fisheries Commission decided to provide more protection for the species, which is ubiquitous in consumer products and hunted by nearly everything that lives in water or flies near it. A review of 2009 data and showed that only 8 percent of spawning adults escaped nets and predators, according to the commission.

Member states along the East Coast agreed to regulate their fisheries to preserve at least 15 percent of the spawning Atlantic population each year. New Jersey’s stake in the menhaden industry may be small, but the changes could impact its coastal economy.

"If there’s a reduction in the bait fishery," said Toni Kearns, one of the commission’s management coordinators, "there is a potential there will be fewer available for commercial fishermen to buy and fewer for bait and tackle shops. But we don’t know yet."

New Jersey fishermen who net bunker can typically sell them for 10 cents per pound frozen and $1 to $1.50 each live, said Jeff Kaelin. He handles government relations for Lund Fisheries in Cape May, which employs up to 150 fishermen during peak summer months.

By his count, the fish netted roughly $5 million for commercial fishers in New Jersey last year.

Loberstermen in New England and crabbers to the south buy New Jersey menhaden, he said.

Tom McCloy, head of New Jersey’s Marine Fisheries Administation, said the states will likely phase changes in over a few years.

It’s hard to predict the implications, he added, but a rough analysis by McCloy’s administration shows that the conservation initiative could cut a harvest like last year’s 50 million pounds by more than 30 percent.

Although new regulations won’t be passed in time for the 2012 season, recreational anglers in the state have probably already felt the effects of an overfished bunker population.

The Jersey Coast Angler’s Association represents the saltwater fishing clubs along the state’s shore that use menhaden as bait to catch bluefish, flounder, striped bass and tuna.

"In our opinion, the 15 percent threshold is set too low," said Bruce Freeman, the association’s researcher. "Menhaden is a major forage species. If you fish for it at high levels, there isn’t sufficient food for the bigger fish that eat it."

Jung Kim sells them at his shop in South Amboy, Fred’s Bait and Tackle. Over the last ten years, he said, the price for them has gone from $8 per dozen to $15 per dozen.

"They’re the standard for all game fishers around here," said Kim. "One way or another everybody eats menhaden."

Stacy Jones: (973) 392-7969 or stacy_jones@starledger.com