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The new year - 2003
23-01-2003
At the beginning of each year we often tend to want to spend to much time reviewing the past. Of course you can learn from the past but it is olso true that to tackle new opportunities it is necessary to set your sights to the future.

The year of 2002 was a year of change and in many ways difficult. The simplest way to explain this change is to say that the market changed from being a sellers market (2001) into a buyers market (2002).

Negotiations became harder, quality demands grew and therefore the need, for a strong and organized sales force, was greater than ever. At the same time, the financial market in Iceland changed. Financers held back and the break was on. The constant strengthening of the Icelandic krona agains other currencies lead to a lower price in kronas being returned on fish products.

Despite a 14-15% average devaluation of foreign currency and a 5-10% reduction in product-prices “Íslenska” only suffered a 10% cut down in sales in our home currency. Counted in foreign monies and/or product weight we can proudly say that in most markets we did better than in the year 2001. This we assume is due to a well organized sales-approach, a great sales-force and a good backup team.

Now, at the beginning of the new year, 2003, we first and foremost, aim to concentrate on bonding in a better way with markets that have turned out well in difficult times and everything points to this being a good year. Truthfully, it is not starting with a roar, and markets are more uncertain and unstable than desired. More changes are expected caused by fluctuation of the USD verses the EUR and alas the price of the European markets is expected to decrease towards the prices in the US.
A strong Icelandic krona will devaluate the amount received by the producers and will in the long run likely push down the prices of fresh fish. This might again cause greater demand for fresh fish export.

Looking at the bright sides – the demand for fish is good and steady and fish-stock at the beginning of the year seems less than that of a year ago.
I believe the year of 2003 will be a good year for selling fish and that the staff of “Íslenska” will as always do it’s outmost to keep their customers happy by offering a reliable and stable service at each and every turn.



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Total catch of the Icelandic Fleet in 2003

Larger Cod-quotas in the Barnets Sea

Chinese competition

Delegation to Norway

The new year - 2003

The Icelandic Fisheries Exhibition.

European Seafood Exposition

Boston seafood show March 12-14th 2002

An article on the Icelandic Sales Agency in Iceland BUSINESS

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