Fish farming remains a small part of Iceland's overall fishing industry but it is set to grow, says Íslandsbanki’s seafood report.
An article on industry website Fishupdate.com discusses the report and states that the Icelandic fish farming production will double in the next few years. The bank experts expect it to exceed 10,000 tons within the next five years.
The main species at present is Atlantic Char, but there is increasing aquaculture activity in halibut, cod and salmon, explains the report.
There are according to the Icelandic Aquaculture Association- about forty-five registered fish farms in Iceland. There are ten sea-cage farms, most of which produce cod and there are twenty-five land-based farms, mostly involved with Atlantic Char. The remaining ten are mussel farms which are run on an experimental basis.
The bank experts expect that the United States will be the main market for Icelandic fish farming in the near future.