Cod stock in Icelandic waters: Substantial increase

There has been some encouraging news about the size of the cod stock, reports www.megafishnet.com with reference to Iceland Seafood International.

The so-called reference stock (fish that is 4 years old and older) is now said to be 846,000 tons and the estimate for early 2011 is 902,000 tons.  The reference stock is the basis on which the quota is determined.  The working rule in recent years has been to set the quota at 20 percent of the reference stock.   In 2007 the reference stock was thought to be 650,000 tons and this led to a quota recommendation of 130,000 tons.

The Marine Research Institute has recommended a cod quota of 160,000 tons for 2010-2011.  The Minister of Fisheries is expected to say his final word before the end of this month and some are expecting an upwards revision.