It is likely the trade sanctions imposed by the EU on herring landed by the Faroe Islands will raise pelagic prices in Europe, at least on a temporary basis, according to traders.
At the end of August, Brussels carried through with its threat of implementing a ban after the Faroes refused to budge on its unilaterally set quota of 105,023 metric tons (MT) for Atlanto-Scandian herring. Its new quota upset both the EU and Norway because it was three times as much as the share it was entitled to …
