Iceland will increase the haddock quota in its waters for the coming 2020-21 season by 9 percent and lower the total allowable catch (TAC) for cod by 6 percent, the country's Minister of Fisheries and Agriculture Kristjan Bor Juliusson, confirmed.

The decision is in line with the recent recommendations from Iceland's Marine and Freshwater Research Institute (MRI).

The quota for haddock is set at 45,389 metric tons, a 9 percent jump compared with the prior year, thanks to an improved recruitment outlook.