Production and exportsChallenges and potential

Tórheðin Jónsveinsson Jensen

CFO, Varðin

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Next 10 minutes

• Varðin, Faroe Islands

• Pelagic fish

• EU market and custom tariffs

• Two cases – Canned mackerel and surimi

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Varðin

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Pelagic species

• Herring

• Mackerel

• Blue Whiting

• Capelin

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Pelagic product exported to EU

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Whole mackerel to the EU

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Value added products

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Barriers

• 25% custom tariff on several fish products from Faroes to EU

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3 16

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For the Faroese fish export people

3 16

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Tariff list, chapter 3 and chapter 16

3 16Positive list Negative list

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A positive list and a negative list

3 16Raw materialExample: Herring

0304 2075

Value addedproducts

1604 2090

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Canned mackerel

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3 16

Value added products

Mackerel:

1604 1511 canned mackerel1604 1519 canned mackerel1604 2050 canned mackerel

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Surimi

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3 16

Value added products

Surimi (blue whiting):

1604 2005 Processed surimi

0304 9005 raw surimi

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We hope

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