Not Enough Capelin in Iceland to Issue Quota Skip to content

Not Enough Capelin in Iceland to Issue Quota

Research vessels on behalf of the Icelandic Marine Research Institute have not found enough capelin in Icelandic waters during their current expedition to issue a fishing quota. Minister of Fisheries Jón Bjarnason is disappointed with the results.

Capelin. Copyright: Icelandic Photo Agency.

“It is naturally disappointing that more capelin hasn’t been found,” the minister told Morgunbladid. “We will continue the research and maybe there is something hiding beneath the ice, so we haven’t given up all hope yet.”

CEO of fishing company HB Grandi, Eggert B. Gudmundsson, agrees. “People won’t start getting desperate until the end of February.”

Managing director of the Federation of Icelandic Fishing Vessel Owners (LÍÚ), Fridrik J. Arngrímsson, pointed out that 215,000 tons more spawning capelin has been found during the current expedition than during the expedition one month ago.

In the past few days 355,000 tons of spawning capelin was found, while at least 400,000 tons must be found before a fishing quota is issued. The Marine Research Institute will continue its expedition in the hope of finding more capelin.

Much is at stake for the fishing industry; 100,000 tons of capelin could deliver more than ISK 5 billion (USD 40 million, EUR 28 million) in export value. The price of capelin products is high at the moment and the exchange rate favorable for exporters.

Click here to read more about capelin fishing in Iceland.

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