Icelandic catch values down 9% from last year – Fishupdate.com

Icelandic catch values down 9% from last year Published:  29 June, 2006

FOR the first quarter of 2006 the catch value of the Icelandic fleet was 18.5 billion Isl Kr, compared to 20.4 billion at the same period in 2005. This represents a drop of 1.8 billion Isl Kr, or 9%, interseafood.com reports.

Groundfish catch values are roughly stable at 14.4 billion Isl Kr, or an increase of 2.4%. Cod remains practically unchanged at 8.4 billion, which is a drop of 2.1%. Haddock catch values increased by 2.8 billion Isl Kr, or 9.7%, while saithe jumped 20% to a value of 700 million and redfish landings were worth 17.5% more than at the same time in 2005 at 1.7 billion Isl Kr.

Flatfish values went to 1.1 billion Isl Kr with an increase of 12% and the capelin fishery delivered 2.1 billion Isl Kr in the first quarter of the year, which represents a 56% drop compared to capelin landings worth 4.7 billion Isl Kr in the first quarter of 2005.

Catches sold in direct trading between vessel operators and processors were valued at 7.9 billion Isl Kr, at a reduction of around a fifth over the same period in 2005, while fish bought at auction for domestic processing increased by 8% to 3.1 billion Isl Kr. Values of fish exported direct by sea fell by 6.2% to 1.7 billion Isl Kr.

Seafrozen catches were at practically the same value as last year at 5.4 billion Isl Kr. 16% of the quarter’s capelin catch was frozen at sea, compared to 6.1% last year and accounted for approximately half of the value of the capelin catch.

The largest catch values for processing were landed in south-west Iceland at 3.6 billion Isl Kr, or a drop of 9.9% compared to last year’s first quarter. 3.5 billion worth of seafood was processed in the Reykjavik area, an increase of 13% and the largest proportional increase was in western Iceland, where values rose by 15% and the largest drop was in the north-east with a fall of 32%.

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