Next year's cod quota will be maintained at the same 160,000 metric ton level, he said.
According to the ministry, the decision was taken in the light of difficult economic circumstances in Iceland, and with positive indications available following groundfish research carried out in the fall.
The mature and spawning stocks are stronger than has been previously estimated, said the ministry.
This is the first time since the quota system was introduced in Iceland 25 years ago a major stock has been re-evaluated and a new quota issued in the middle of the quota year, which runs from Sept.
