54 



COMMERCIAL FiaffiRIES REVIEW 



Vol. 13, No. U 



the local fishing industry. Salt-fish production had been the most valuable source 

 of export revenue before World War II, but decreased very sharply during and inmedi- 

 ately after the war wdien iced and frozen fish were in greater demand. Production of 



salt-fish (wet-salted basis) 

 amounted to 49,671 metric tons in 

 1950, as against only 21,200 tons 

 in 1949. I^ ttie same years, pro- 

 duction of frozen fish decreased 

 from 29,853 tons (actual weight 

 of product) to 19,810 tons, while 

 iced f i'sh shipments dropped to 

 less than one-fourth of the I949 

 level. In 1950, a total of 

 57,041 tons of fish were utilized 

 for frozen fish, compared to 

 77,872 tons in I949 (table 4). 



Another important change in 

 the processing of the local fish 

 catch in I95O was the considerabla 

 quantity of demersal fish, chiefly 

 ocean perch, delivered to the re- 

 duction plants prompted by the 

 strong demand abroad for fish meal 

 and oil. The delivery of whole 

 fish to the reduction plants for 

 the manufacture of meal and oil 

 will continue to be a feature of 

 local fishing operations so long as the demand for meal and oil continues. It may 

 be noted that in addition to the whole ocean perch delivered to the reduction plants, 

 the plants also handle consider- 

 able quantities of fish offal re- 

 moved from fish delivered to the 

 freezing plants. In 1949, the re- 

 duction plants did not handle any 

 whole demersal fish but depended 

 entirely on offal for raw material 

 (excluding herring, w^ich are nor- 

 mally delivered whole to plants in 

 considerable quantities each year), 



Exports : Although the volume 

 of Icelandic fishery products ex- 

 ports decreased by one-third in I95O 

 in comparison with I949, the value 

 of exports increased in a similar 

 proportion (table 5). The rise in 

 value is attributable to increased 

 local currency prices resulting 

 from the two substantial devalua- 

 tions of September I949 and March 

 1950. However, the percentage of 

 the nation' s total export value accounted for by fishery products decreased from 

 98.1 to 90.5 percent in I95O. 



