Hvalur HF, Iceland’s largest whaling company, has announced that it’ll not be participating in the country’s whaling season for the second year in a row.
Hvalur HF holds a permit to hunt 200 fin whales. However, the company has opted out 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,” explained CEO Hvalur HF Kristján Loftsson.
Loftsson further explained that “The product price developments in our main market, Japan, have been unfavorable recently and are getting worse…The price of our products is now so low that it is not justifiable to hunt.”
In 2024, Hvalur HF didn’t participate in whaling because the whaling season’s permit was issued only one day before the season began, making it impossible for Hvalur HF to properly plan and execute its operations.