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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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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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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3 16
Value added products
Surimi (blue whiting):
1604 2005 Processed surimi
0304 9005 raw surimi
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