No new Iceland capelin fishing deal before 2027

The Faroe Islands will not secure a new capelin fishing agreement with Iceland before 1 January 2027, according to Bárður á Steig Nielsen, the minister for foreign affairs and fisheries.

The current agreement expires on 1 August, leaving Faroese vessels without a deal for the remainder of the year. Iceland’s Marine and Freshwater Research Institute has recommended a capelin quota of 358,000 tonnes for 2027, an 81% increase from this year’s 9,500-tonne Faroese share.

Under the proposed quota, the Faroe Islands would be entitled to 5% of the total, or 17,900 tonnes. However, it remains uncertain whether Faroese vessels will receive the full increased allocation.

Eight Faroese trawlers currently fishing in Icelandic waters could nearly double their capelin catch next year if the new quota is approved.