The search for capelin in Norwegian waters has not yielded results and much of the Norwegian pelagic fleet is now fishing east of Iceland.
This follows the announcement of a 130,000 metric ton capelin quota in Icelandic waters. According to the ministry, although 130,000 metric tons is not a large amount of capelin, this volume could be worth ISK 10 billion (€56 million/$78 million) in export value.
According to reports, 24 Norwegian vessels were reported to be fishing off Iceland of the 25 that may fish in Icelandic waters at any one time.
This
