Hvalur, Iceland’s only remaining whaling company, will not hunt whales this summer due to global economic instability, local media reports.
Iceland, Norway, and Japan are the only countries that still permit commercial whaling, a practice widely condemned by animal rights groups.
“Hvalur HF plans to cancel this summer’s whaling season. The company’s employees were informed earlier this week,” reported media outlet RUV.
“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,” said CEO Kristjan Loftsson, as quoted by MBL on Friday evening.
Local media cited several reasons: inflation in Japan, where the company sells almost all its products, fluctuations in product prices, and global market turbulence due to tariffs.
In Iceland, the whaling season typically runs from mid-June to September. However, in recent years, Icelandic whalers have struggled to meet their quotas.
Iceland’s second whaling company ceased operations in 2020, concluding that the industry was no longer profitable.
