The export value of fish will decline by 15 billion ISK (USD 0.2 billion) if the fish quota for next year follows the suggestions from the Icelandic Marine Research Institute.
The final decision about the size of the quota will be made by the Minister of Fisheries, Einar Kr. Gudfinnsson. The Icelandic Marine Institute suggests that the total quota for cod will be reduced form 135,000 tons in 2007 to 124,000 tons in 2008. The quota for 2006 was 170,000 tons. Morgunbladid reports.
According to Gudfinnson, the quota will not be any less than 130,000 tons.
Árni Bjarnason, the president of the Icelandic Union of Sailors, said that the results of the research from the Icelandic Marine Research Institute does not reflect the experience of sailors. He demanded clear answers about the influence of whales on the cod stock.
Arthur Borgason, the leader of Icelandic union of small fishing vessels owners, said that no research could replace the experience of experienced seamen.
Other front men in the fishing industry agreed with the Icelandic Marine Research Institute on declining fish stocks, but still believe that the cod quota could be around 150 to 160,000 tons.