Iceland to Increase Cod Quota
Iceland is set to increase its annual catch quota by 30,000 tons, according to the latest reports from Reykjavik.
Fisheries Minister Einar K. Gudfinnsson, Iceland´s Minister of Fisheries, announced last week that Iceland´s cod quota for the current fishing year of 2008-2009 will be increased from 130,000 tons to 160,000 tons. Iceland’s current quota year started on September 1 2008 , so the new catch limits will be backdated to that period. According to Iceland Seafood International, the same increase will apply to the next fishing year 2009-2010. The increase in export revenue to Iceland’s cash strapped economy is estimated to be worth nearly $100 million, according to Icelandic newspapers.
It seems that the Icelandic romance with the finance & banking sector is over and the government is looking to traditional industries like commercial fisheries to get the country back on its feet.
Comments
Leave a Reply
