ICES had recommended a near 10% cut.
As discussed in an earlier newsletter the ICES had recommended a near 10% cut in the Barents Sea cod quota for 2017. This would have meant a reduction to 805,000 tons. However a recent report from scientists concluded hat the Barents Sea could actually handle an increase in the quota. On the back of this news optimism was high amongst the processing sector that the total allowable catch (TAC) would not be reduced when Russia and Norway met two weeks ago to decide. In the end, the two countries agreed a (very minor) reduction of 4,000t for 2017 on cod and a 10,000t reduction on haddock. All in all a good result for the processors as prices were already creeping up.
However, a recent report from scientists concluded hat the Barents Sea could actually handle an increase in the quota. On the back of this news optimism was high amongst the processing sector that the total allowable catch (TAC) would not be reduced when Russia and Norway met two weeks ago to decide. In the end the two countries agreed a (very minor) reduction of 4,000t for 2017 on cod and a 10,000t reduction on haddock. All in all a good result for the processors as prices were already creeping up.
In the end the two countries agreed a (very minor) reduction of 4,000t for 2017 on cod and a 10,000t reduction on haddock. All in all a good result for the processors as prices were already creeping up.