A significant price gap has emerged between mackerel landed in the Faroe Islands and in Iceland, raising concerns about the income of Icelandic crews and state revenues.
Icelandic fisheries media outlet Fiskifréttir reports that the issue was recently raised in the Icelandic parliament by MP Sigurjón Þórðarson, who stated that the difference has a “huge impact” on both fishermen’s wages and public finances.
Union leaders back concerns
Árni Sverrisson, head of the Icelandic Association of Ship Masters, supported the warning but stressed that much remains hidden in the case.
He pointed to wage agreements from 2023–2024, which require companies to present estimated prices at the start of each season, based on market outlooks. These prices later adjust according to product value.
Fishermen may lose out
Usually, two months after the season ends, accounts are settled between companies and crews. If export prices have risen, crews are entitled to extra compensation.
However, with the current price gap between Iceland and the Faroe Islands, many fear that Icelandic crews will not receive their fair share.
Árni also criticised the weakness of the Price Settlement Office, meant to ensure fair settlements. He said it lacks independence, staff and digital access to export figures. “The office is kept down and cannot do its job,” he warned.