Declining cod stocks threaten Iceland's economy
Date: 03-Dec-01
Country: SWEDEN
Fish products are by far the biggest contributor to Iceland's exports, even though if their share in the total is falling as it diversifies into services and metals smelting.
But overfishing has taken a toll, Johann Sigurjonsson, director of Iceland's Marine Research Institute, told Reuters in a telephone interview.
The importance of fish, especially cod, is highlighted by Iceland's strict defence of the 200 mile (320 km) limit of its territorial waters and its ban on foreign investment in fisheries - one of the biggest sectors on the Iceland Stock Exchange.
Marine products account for 63 percent of Iceland's merchandise exports and about 10 percent of the country's workforce is employed in the fishing industry.
"Cod landings in recent years have been up to 42 percent of the fishable stock, far exceeding the targeted 25 percent limit," Sigurjonsson said.
Fish catches have declined steadily since 1998. Last year 235,000 tonnes of cod were landed compared to 260,000 tonnes in 1999, according to a Marine Research Institute report.
"The overfishing is largely due to an overestimate in stock size," Sigurjonsson said.
The current assessment of the fishable stock of cod - defined as four years and older - was estimated to be 577,000 tonnes at the beginning of January 2001 and spawning stocks were calculated at 219,000 tonnes, the report said.
A similar report in May last year said fishable stocks would be 866,000 tonnes at the beginning of 2001, an overestimate of 289,000 tonnes.
"The high availability of cod in 1997 to 1998 is probably the main reason for the overestimate in recent years. Catches increased continuously from 1995 to 1998," Sigurjonsson said.
"Reduced efforts, following the adoption of the catch rule of 25 percent of fishable stocks, can also help to explain the high availability in the period."
Sigurjonsson said that commercial fleets should concentrate on harvesting older fish stocks and avoid fishing small, younger fish.
"We have closed off numerous fishing areas and we will continue to do so to protect younger fish", he said.
In 2002, the institute estimates that fish born in 1997 and 1998 will be the most abundant in the catch, and cod aged five years and younger will amount to 76 percent of the total catch.
"If we continue to catch younger fish in abundance, we'll be in trouble and cod stocks will continue to decline. But if protection methods are successful, then the stock should recover in the coming years," Sigurjonsson said.
