Fish farm production in Iceland will double by 2015 to 10,000 tonnes, according to the Icelandic Aquaculture Association (TIAA).

Iceland's fish farming production value is estimated to reach ISK3 billion (US$24.4 million) this year, after ranging ISK1.7 billion (US$13.8 million) to ISK3.3 billion (US$26.7 million) in the past five years.

However, the production capacity has declined in recent years because of a recession in salmon farming. On the other hand, Iceland's Artic char farming is successful and the country will produce 3,000 tonnes of the fish this year.

The depreciation of the Icelandic krona has helped improved Iceland's fish farming conditions, said Gudbergur Runarsson, managing director of TIAA.

The exchange rate and price had been favourable, he said.