The Marine Research Institute recommended an increase in the capelin quota on 3.February and the Minister of Fisheries subsequently confirmed that the total quota should be increased to 210.000 tonnes thereof the Icelandic vessels are permitted to fish 150.000 tonnes for the fishing year 2005/6. This compares with a quota of 803.000 tonnes for the fishing year 2004/5 of which 533.000 tonnes came to the fishmeal plants.

Since this small quote was issued, about 50.000 tonnes has been landed in Iceland of which about 20.000 tonnes have come to the fishmeal plants. It is expected that this ratio will be maintained for the rest of this winter season, unless a further addition will be made to the quota.

At this time, there is no indication that the marine scientists have been able to measure further stocks of capelin in the sea off of the south of Iceland where the capelin is now being caught.

Freezing is now in full swing in several plants on the east and south coast, and the markets in Japan and central Europe appear to be able to pay competitive prices.