News of the recommended quota increase in Iceland and the Barents Sea is not a worrying trend for Europe's cod suppliers, industry sources said, despite the price crash in the spot market this year.
Prices declined continually in the first months of 2013 with cod flooding its main import markets, including the United Kingdom. This improved in the month of May, due to slightly tighter supply, as reported by IntraFish.
However, the recommended 10 percent increase in total allowable catch (TAC) to 215,000 metric tons for the 2013-2014 harvest season in Iceland, and to 993,000 metric tons in the Barents Sea, is seems to be no reason for concern.
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