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VALUE OF ICELANDIC CATCH INCREASED BY 13.4% IN 2019

VALUE OF ICELANDIC CATCH

Value of Icelandic catch increased by 13.4% in 2019. The total catch of Icelandic vessels was 1,048 thousand tonnes in the year 2019 which, according to preliminary data, is 211 thousand tonnes less than in 2018. The catch value was around 145 billion ISK which is 17 billion more than in the previous year. Cod catch received around 70 billion ISK which is 21.8% more than in 2018. For other demersal species the value of catch increased significantly. The catch of pelagic species was less mostly due to no capelin being landed in 2019.

The value of catch in 2019, according to type of landing, resulted in catch for domestic processing being 77.5 billion ISK which is 53% of the total catch value. The value of catch frozen at sea was 37.8 billion ISK and the value of catch intended for auction markets was 22.2 billion ISK.

The average prices of domestic catch increased by 22.8% in 2019 compared to the previous year. The average price of cod was 255 ISK/kg, the average price of haddock was 247 ISK/kg and the average price of redfish was 225 ISK/kg. The average price of cod sold in direct sales for domestic processing was 224 ISK/kg, the average price of cod frozen at sea was 356 ISK/kg and cod sold at auction markets averaged at 312 ISK/kg.

Non-Icelandic vessels landed about 53 thousand tonnes in Iceland in 2019, 59% less than the year before which is mostly because no capelin was caught or landed. The value of catch from foreign vessels was 6.4 billion ISK which is 34% less than in 2018. The catch was mostly shrimp, 4.3 billions ISK, blue whiting for 1.3 billion ISK and cod valued at 577 billion ISK. About 74% of foreign catch was landed directly for domestic processing, 25% was frozen at sea and less than 1% went to auction markets.

Preliminary data shows that 619 thousand tonnes of fish products was exported from Iceland in 2019, 7.8% less than in the previous year. The export value of fish products was 260 billion ISK, 8.5% more than in 2018. Export of cod products was 118 billion ISK, 17% more than the year before. About 53 thousand tonnes of cod products was exported frozen, 41 thousand tonnes exported fresh and 24 thousand tonnes was salted. 94 thousand tonnes of mackerel was exported worth 19 billion ISK and 24 thousand tonnes of haddock worth 18 billion ISK.

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