Reykjavík Harbour was busy early this morning, but fishermen were getting ships ready for the next fishing trips.

 

Windfall worth fifty milliards

Last week, Kristján þór Júlíusson, Minister of Fisheries and Agriculture, issued a regulation following the Marine & Fresh Water Research Institute’s advice on fishing for up to 662 thousand tonnes of capelin. The coming fishing season is expected to be the biggest capelin season in at least 20 years. The total quota for the capelin season this year is 940 thousand tonnes. However, per international agreements, Iceland receives 80% of the quota in Icelandic territorial waters. The estimated catch value of this season is not less than ISK 50 milliards, a true blessing for the Icelandic economy.

Reykjavík 18/10/2021 07:42 – A7R IV: FE 1.4 / 24 GM

Photo and text: Páll Stefánsson