The report, "FO fisheries and aquaculture.pdf", on the responsible management for a sustainable future of Faroe Islands fisheries and aquaculture has been welcomed by Faroe Seafood.

The report, by the Ministry of Fisheries and Natural Resources, in cooperation with other relevant government ministries, agencies, scientific institutes and fisheries associations, described the effort management system which protects ground fish in the Faroese 200 miles fisheries zone.

Cod, haddock, coley and other ground fish stocks are regulated by an effort management system of fishing days, combined with area closures. The total fishing effort and the number of fishing licences are fixed by law.

The system therefore manages fishing capacity and effort rather than allocating quotas for species and stocks.

Welcoming the report, Faroe Seafood says the system meant entire catches were legitimate and therefore had economic value so non targeted fish were not discarded. Not to mention the importance of the regular monitoring of stock sizes and fishing mortality which enabled continuous evaluation of fishing efficiency.
“The Faroese understand the fish stocks in their grounds, they protect them to ensure sustainability and in that way we are able to provide a reliable service.”