Big analysis firm praises quota system

The quota system allows for flexible adjustment of quotas in response to the size of fish stocks, which will help to cut the long-term risk of overfishing.

This is one of the key conclusions of Fishing policy reform ensures sustainability of fish stocks, boosts government revenue, a new report by analysis firm Moody’s.

The Faroese fisheries reform aims to introduce an annual quota system on fishing, which would replace the current arrangement whereby companies are given a number of allotted days for fishing.

Moody’s says the quota system will boost government revenues, provided that the fish stocks are properly administered.

An increased demand will also cause prices to rise, according to the report. Read the full report here.

Translated by prosa.fo