Iceland Fish values up 25 percent

Recent figures have shown a substantial rise in the total value of Iceland’s fishing harvest for the first quarter of 2012.

The numbers, which came last week via the official Icelandic statistics office, revealed that fish caught by Icelandic ships in the first quarter climbed by more than 25 percentage points for the three months leading up to 31 March, compared to the same time frame one year ago. The total amount of fish caught amounted to ISK 47.3 billion (EUR 238 million) over the period.

Cod, the country’s most valuable haul, saw a substantial increase during the three-month span, amounting to a total value of EUR 102 million, a rise of more than 17 percent. Meanwhile, total value for haddock increased by a whopping 32 percent, according to the official figures.

Icelandic fisherman brought in some EUR 93 million-worth of mackerel over the same time frame; the figure comes as Reykjavik continues to battle heavy criticism and potential sanctions for exceeding its internationally-defined annual mackerel quotas.

Meanwhile, the news comes as a relief to Icelandic fishing firms, which are also experiencing tensions with Reykjavik over recent reforms to licensing and quota rules that have resulted in a sharp spike in fees.