Iceland's Minister of Fisheries Einar K. Gudfinnsson and representatives of the Icelandic fish industry believe cod farming should be increased to cope with the cut in the cod fishing quota, the Iceland Review reported. Norway has said it is willing to cooperate with Iceland when it comes to developing fish farms.

“I think we have reached a critical moment with regard to cod farming in Iceland […]. The companies have to grow and production has to increase considerably,” Gudfinnsson told Icleandic newspaper Fréttabladid.

In Norway, where cod farming has already become a “real industry”, those involved have said they are willing to offer Iceland their guidance and cooperation.

“The knowledge which we have obtained is available for you and it could help shorten the time until you have established spawn farming in Iceland on a large scale,” said Sigurd O. Handeland, managing director of the spawn farming station Saga Fjörd in west Norway.

Handeland said the initial capitalisation for establishing the station had been ISK 500 million (USD 7.5 million, EUR 4.9 million). “It took three years until we were able to strike a satisfactory balance in the production.”

Baard Haugse, managing director of Grieg Cod Farming AS, set to become one of three largest cod farming companies in Norway in the near future, also said he would gladly share their knowledge with enthusiastic Icelanders.

“We don’t have many secrets. Fish farmers can learn from each other and we also believe that our seven years of experience gives us a certain advantages over other nations,” Haugse said, estimating that Norway would produce up to 100,000 tons of farmed cod within five years.

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