Icelandic fishing companies are likely to be granted an additional quota of ca. 50,000 tonnes’ worth of capelin, Vísir reports. The announcement comes as the most valuable phase of capelin season, the processing of roe, commences.
Ministry to reallocate the Norwegian capelin quota
As Norwegians vessels were unable to use the full extent of their capelin allowance in Iceland – when their season on Icelandic waters concluded – the Ministry of Food, Agriculture, and Fisheries is expected to reallocate the remainder of the quota among Icelandic vessels, Vísir reports. As reported by Mbl.is, the authorities rejected Norway’s request for an extension in February.
This reallocation, which could comprise around 50,000 tonnes, could come into effect as early as today. If Icelandic vessels manage to fully utilise this additional quota, the value of the catch could be worth between two to three billion ISK (€14-21 million / $15-23 million).
The announcement comes as the most valuable phase of the capelin season, the processing of roe, commences. Roe-processing is expected to be in full swing around the country, as companies race against time to catch as much capelin as possible before they spawn.
As noted in Iceland Review last year, the Marine and Freshwater Research Institute of Iceland set its new advice for capelin catch quotas at 904,200 tonnes for the 2021/22 season. This quota is nearly sevenfold of last year’s quota and a dramatic shift from 2019 and 2020 when no capelin quota was issued at all.