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Icelandic Cod Stocks at Historic Low

Jul 09,2007 Leon Roskilly


"ICELAND is poised to confirm a deep cut in cod fishing quotas this week in a move that is almost certain to send prices in the UK soaring this year.

Some forecasters are predicting that the size of the reduction could be closer to the 60,000 tonne cut back demanded by Iceland's Marine Institute than the 30,000 tonne reduction suggested by financial and economic analysts just a couple of weeks ago.

The Institute’s report revealed the size of the cod stock in Icelandic waters has reached a historical low and the Institute does not expect the cod stock to grow quickly.

ICELAND is poised to confirm a deep cut in cod fishing quotas this week in a move that is almost certain to send prices in the UK soaring this year.

Some forecasters are predicting that the size of the reduction could be closer to the 60,000 tonne cut back demanded by Iceland's Marine Institute than the 30,000 tonne reduction suggested by financial and economic analysts just a couple of weeks ago.

The Institute’s report revealed the size of the cod stock in Icelandic waters has reached a historical low and the Institute does not expect the cod stock to grow quickly."

Full Report at: FishUpdate.com

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"Iceland sent shock waves through the fish processing industry in the UK and Europe when it confirmed a 60,000 tonnes (down to 133,000 tonnes) in the size of the cod quota for the new season which begins on September 1.

The country's Marine Research report revealed the size of the cod stock in Icelandic waters has reached a historical low and the institute does not expect the cod stock to grow quickly. It argued strongly that such a large cut was vital if a collapse in fish stocks was to be avoided."

Full Report at: FishUpdate.com



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