First-sale prices of Greenland halibut (Reinhardtius hippoglossoides) have continued their upward trend in 2016, achieving a value of EUR 769,000 (USD 880,000) in January, based on the sales of 264 metric tons (MT). This represented a 3 percent increase in value and a 30 percent increase in volume compared with January last year.
Compared with January 2014, this year’s first-sale value increased by 233 percent while the volume was up 106 percent. This was mainly attributed to higher minimum prices given by the Norwegian sales organization Norges Rafisklag.
Greenland halibut are found in the eastern part of the Atlantic, mainly in waters surrounding the United Kingdom to the northern part of Norway, but also around Iceland and east of Greenland. They also appear from Newfoundland to northwest Greenland in the northern part of the Pacific Ocean.
The Norwegian quota for northeast Arctic Greenland halibut this year is 22,000 MT, up from 19,000 MT in 2015, and while the stock level is stable, the species is very sensitive to a high catch effort.
The total first-sale value for Greenland halibut in 2015 was EUR 50.7 million (USD 58 million), a 14 percent increase on the previous year. The total volume sold last year was 16,795 MT, down 7 percent.
