Following studies of the size of the capelin stock in Icelandic waters, the Icelandic Marine Research Institute suggested increasing the capelin quota by 125,000 tons so that the maximum quota will be 325,000 tons.
Capelin. Copyright: Icelandic Photo Agency.
The quota increase is expected to have extensive benefits for the economy. The value of the additional quota is estimated at approximately ISK 6 billion with the total being able to deliver ISK 14-15 billion (USD 119-128 million, EUR 88-94 million) in export revenue, Morgunbladid reports.
For capelin fishing to be considered sustainable, at least 400,000 tons of spawning capelin must be spared. The Icelandic Marine Research Institute will continue to monitor the size of the capelin stock.
“This is positive news and I firmly believe that the quota will be increased even further,” commented Gunnthór Ingvason, managing director of the Síldarvinnslan fish processing plant in Neskaupstadur, east Iceland.
“Capelin fishing hasn’t been as successful in a long time. Also, captains believe they have spotted a lot of capelin and they are optimistic,” he added.
Thorsteinn Sigurdsson, manager of the Marine Research Institute’s exploitable marine stock division, pointed out that even though these results are certainly positive, the size of the capelin stock is low in a historical context.
According to visir.is, the price of capelin products has increased considerably in the past two years.
Meanwhile, capelin processing workers have demanded higher salaries and are going on strike, set to take place on February 7, 14 and 21, ruv.is reports.
Click here to read more about the capelin season.
