April 1951 COMMEflCIAL FiaffiRIES REVIEW 57 



almost twofold, from vmder 16,000 tons to more than 27,000 tons. The relative in- 

 crease in exports of cured salt fish was even much larger, from only 297 tons in 

 19/4.9 to more than /!+,000 tons in I95O. The bulk of the salt-fish shipments were 

 made to the Mediterranean area. 



After a poor year in 1949, wtoen low prices kept Icelandic shipments at a low 

 level, cod-liver oil exports rose substantially in 1950. The volume of shipments 

 was almost exactly twice as high in I949, and the value of these shipments was 124 

 percent greater. The deterioration in the international situation was the princi- 

 pal factor increasing demand and prices for the oil. The Netherlands, which pur- 

 chased cod-liver oil mainly for the production of margarine, and the United States, 

 which uses the oil mainly for medicinal pxirposes, were the leading buyers. 



As a result of the unexpectedly good herring catches in the fall and early 

 winter months, salted herring shipments in I95O were 79 percent higher in volume 

 than in 1949. Foreign prices were relatively steady, but because of the two suc- 

 cessive devaluations, the value of salted herring shipments was I63 percent higher 

 in 1950 than in I949. 



Another interesting deTelopment in I95O was the export of a considerable quan- 

 tity of oil and meal produced from viiole ocean perch. A number of trawlers engaged 

 in ocean perch fisheries, for the first time since the early I93O' s, in order to sup- 

 ply the steady foreign demand for oil and meal. 



For the first time the United States assumed a leading position as a purchaser 

 of Iceland's fish products, second only to the Netherlands in I95O. The sharp in- 

 crease in shipments to the Itoited States was principally in frozen fish, which rose 

 to 7,409 metric tons valued at $2,429,516(1949: 2,480 metric tons valued at $749 1 540). 

 The most notable development in frozen fish shipments to the United States was the 

 emphasis placed on freezing ooean p»rch. At the end of 1950, local freezing plants 

 were busy producingooeanparchf illets Jnanticipation of continued United States de- 

 mand in 1951. 



* * * * * 



GERMAN - ICELANDIC TRAEE AGREEMENT INCLUDES FiagJRY PRODUCTS ; Fishery products 

 are included in a German-Icelandic Treaty of Commerce and Navigation signed at 

 Frankfort-on-the-Main on December I9, 1950. This treaty will be in force until 

 March 3I, I95I, and from then on will be extended automatically for a period of 

 one year unless one of the parties denounces it with an advance notice of three 

 months, reports a January 25 American consular dispatch from Bremerhaven. 



Connected with the Treaty is the "Trade Agreement for the period March 15 to 

 December 3I , I95O," signed on December 12, I95O, and at the same time extended 

 until December 3I, I95I. 



According to the Trade Agreement, the Geiman government will issue import 

 licenses, among others, for fishery products, as follows: 



US$1 800 000 - ICED FRESH FISH OTHER THAN HERRING 



' ' (including up to $200,000 QUICK-FROZEN FISH) 

 400 000 - SALTED HERRING 

 200' 000 - ICED FRESH HERRING 



lOo'oOO - SALTED FILLETS, SALTED FISH, DRIED FISH 

 1 300' 000 - HERRING 01 L 

 '785,000 - HERRING MEAL 

 150,000 - COD LIVER OIL 

 60,000 - F ISH ROE 

 TOTAL US$4,795,000 



The above amounts laay be exceeded upon mutual agreement. 



