Iceland’s largest whaling company – Hvalur hf. – will not be hunting this season. This marks the second consecutive year that the company has opted out of whaling during the summer season.
Although Hvalur is not the only whaling company in Iceland, it is by far the largest, holding a permit for the hunting of 200 fin whales this season. Its CEO, Kristján Loftsson, says his staff have been informed of the decision, which was made due to the global economic situation.
“Given the current economic situation, Hvalur HF sees no other option but to stay docked and wait for better days. The situation will be reassessed next year,” said Loftsson, speaking to Icelandic media.
Loftsson says the economic situation in Japan – where Hvalur HF sells almost all of its products – such as inflation, have reached a point where whaling is no longer economically viable.
“The product price developments in our main market, Japan, have been unfavourable recently and are getting worse,” he said. “The price of our products is now so low that it is not justifiable to hunt.”
Last year, whaling did not take place either. In a highly politicised move, Svandís Svavarsdóttir, who was then the Left-Green Minister for Agriculture and Fisheries, issued the season’s permit only one day before it was scheduled to begin.
Loftsson says that late issuance of the permit made it impossible for the company to properly plan and execute their operations in 2024.
Whaling remains a hot-button issue in Iceland, with the general public essentially split on whether or not they support the practice.
Iceland, Norway, and Japan are currently the only countries that still permit the controversial practice of whaling.
The whaling season in Iceland typically runs from mid-June to September. However, in recent years, Icelandic whalers have been struggling to meet their quotas.
Iceland’s second largest whaling company, IP-Utgerd ceased operations in 2020, citing declining profits and demand for whale meat facilitated by the COVID-19 pandemic.
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