Market – October 6, 2023
Five ways in which Iceland’s radical new policy will revolutionise salmon farming in the country
Isafjordur in Iceland - aquaculture farm outside Isafjordur westfjords. Photo: BioMar
The country’s budding salmon farming industry has been under scrutiny of late but is set to be transformed under radical proposals revealed earlier this week.
Iceland’s Ministry of Food has unveiled a new policy framework for the country’s thriving aquaculture sector.
The draft, unveiled on Wednesday, promises to transform salmon farming in the North Atlantic country.
“It is fundamental that those who profit from the use of the country’s natural resources pay a fair price for it,” said Food, Fisheries and Agriculture Minister Svandís Svavarsdóttir.
Here we list five key changes that could transform aquaculture in the country:
- Enhanced Oversight:
- Resource Utilization Fees:
- Performance-Based Incentives:
- Single Operator Allocation:
- Potential Permit Annulments:
