Fiskmarkaður Íslands hf. (FMIS) is Iceland’s biggest fish market with approximately 50% share of all sold quantity on icelandic fishmarkets.

The company operates in nine locations: Arnarstapi, bolungarvik, Grundarfjordur, Olafsvik, Reykjavik, Rif, Stykkisholmur, Skagastrond and Thorlakshofn (see map below). The headquarters are in Olafsvik, which is also the biggest single reception center.

The bulk of the catch sold through FMIS comes from smaller fishing boats and the daily catch is usually sold before unloading. Thus the freshness and quality of the fish is high. In landing, it is ensured that the fish is properly iced and placed in insulated fish tubs; furthermore the fish temperature is measured and recorded.

After unloading, the fish is sorted into size categories and weighed, then iced again. Auctions take place at 13:00 every business day using an internet based auction system that allows buyers to submit bids from any location. The auction is administered by a central auctioning system operated by the Iceland Fish Markets’ Data Center.

After the auction, the fish is available to the buyers' transporter and usually forwarded the same night it is caught.

Quality control

FMIS has implemented a quality control and hazard analysis system based on HACCP. It covers hygiene, cleaning, quality control for raw materials and pest control. All these factors are monitored and controlled according to a quality manual.
All files concerning weighing are kept for at least 2 years and are in safekeeping by the head of the local branch. Other files concerning accounting are kept by the office manager and are kept for at least 5 years.

Claims / Complaints

Claims about the quality of fish already delivered must be made within 24 hours after dispatch from the market. Claims should be entered into a form on the web of the Icelandic Fish Markets’ Data Center. When applicable, both buyer and seller are contacted to discuss the claim and decide which arrangements should be made. The conclusion and the actions agreed upon are registered on the claims notification form and saved.


In reception, the catch of every boat is weighed according to type and registered on the correct weighing form, while every stack has an individual auction number.

Before the auction a receipt is printed out for each buyer, specifying stack number, name of boat, price and quantity. At delivery the number of the fish tub in the stack is filled out manually on the receipt.

A copy of the receipt is enclosed with the product to the buyer; FMIS keeps the original.

All records are kept for at least two years.


Fiskmarkaður Íslands - Norðurtanga - 355 Ólafsvík - Sími 430 3700 -