The quotas established 2014 are sustainable and near the limits following the scientific advice. The quota, set to 993,000 tons, is 7,000 tons lower than the all-time high one million tons in 2013.
The bi-lateral agreement was signed in St. Petersburg last Friday.
With today’s prices on cod, the first hand value of 993,000 tons will be NOK 15 billion (USD 2.5 billion, EUR 2 billion).
