FishMatchGroup
Sign in
Back to home

Aquaculture market guide

Aquaculture in Iceland: suppliers, costs and project planning

FishMatch Group helps commercial buyers in Iceland source aquaculture equipment and complete farm projects through a private, human-reviewed RFQ process. Key species are salmon, trout; typical water temperatures are 4–12 °C and industrial electricity costs about USD 0.09 per kWh.

Iceland combines cheap geothermal and hydro power with clean water, making it a leading location for large land-based salmon RAS.

Open the Iceland fish farm cost calculatorRequest a reviewed quote

Key planning facts

Main species
salmon, trout
Common systems
RAS (recirculating), Cages, Flow-through raceways
Water temperature
4–12 °C
Industrial electricity
USD 0.09 / kWh
Water cost
≈ USD 1.00 / m³
Compound feed
≈ ISK 235 (≈ $2) / kg
VAT / GST on equipment
24%
Currency
ISK (≈ 138 / USD)
Licensing authority
Food and Veterinary Authority (MAST) and Environment Agency
Main import ports
Reykjavík and Þorlákshöfn
See vetted supplier categories for Iceland

What to check before requesting quotes in Iceland

  1. Confirm your water source and year-round temperature (4–12 °C) for salmon.
  2. Budget energy carefully: at about USD 0.09/kWh, pumping and aeration are a major operating cost.
  3. Start permits and environmental licensing early with Food and Veterinary Authority (MAST) and Environment Agency.
  4. Plan equipment logistics and lead times through Reykjavík and Þorlákshöfn.
  5. Check water rights or tariffs: municipal water costs about USD 1.00 per m³, so RAS make-up water and pond filling need a secured source.
  6. Budget taxes: standard VAT/GST is 24% on equipment; ask about import duty exemptions for aquaculture.

Electricity: GlobalPetrolPrices business tariffs (2026). Water tariffs and exchange rates are estimates; VAT is the standard national rate.

Frequently asked questions

How much does a fish farm cost in Iceland?

An indicative 250-tonne-per-year RAS in Iceland costs roughly ISK 403.7M (≈ $2.9M) – ISK 627.9M (≈ $4.6M) in equipment and installation, before land and buildings. Ponds and cages usually cost less per tonne. Use the calculator for your species and scale, then request supplier quotes.

Which fish and shrimp are farmed in Iceland?

Commercial projects in Iceland mainly focus on salmon, trout.

Who licenses aquaculture in Iceland?

Licensing and environmental approval usually involve Food and Veterinary Authority (MAST) and Environment Agency. Requirements change, so confirm with the authority before committing capital.

Does FishMatch Group sell equipment?

No. FishMatch Group is an independent, human-reviewed sourcing service. We qualify your project, match it with vetted suppliers and keep supplier details private until an introduction is approved.

More Iceland questions: see the market FAQ

This page in other languages

EnglishEspañolFrançaisPortuguês

Other aquaculture markets

Start a reviewed RFQ