Minister of Industries and Innovation Steingrímur J. Sigfússon announced on Monday his decision to increase the capelin fishing quota by further 120,000 tons as suggested by the Icelandic Marine Research Institute.
Minister of Industries and Innovation Steingrímur J. Sigfússon. Photo Páll Kjartansson/Iceland Review.
Research vessel Árni Friðriksson estimates that the fishing stock of capelin is 990,000 tons, as stated on the ministry’s website.
The total quota for the 2012-2013 capelin season is thus 570,000 tons, of which 100,000 tons have already been caught.
Last week Steingrímur announced an increase of the capelin quota by 50 percent with the prospect of further increase. Every 100,000 tons of capelin are believed to deliver ISK 4 to 5 billion (USD 31-39 million, EUR 23-29 million) in export revenue.
Click here to read more about the last quota decision.