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About FMIS

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 ten locations: Arnarstapi, Bolungarvik, Grundarfjordur, Olafsvik, Reykjavik, Rif, Saudarkrokur, 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.

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How to buy

FMIS welcomes purchases from abroad and already a significant fraction of the fish sold through FMIS goes to foreign buyers. While direct purchases from abroad are possible and we are committed to making all such transactions go smoothly, it may be advantageous for foreign buyers to operate through a local agent. Much of the information provided by the fish market and the auction is in Icelandic only.

Buyers must set up an account with the Icelandic Fish Market's Data Center and provide a bank guarantee for all unsettled purchases. The Data Center provides special software to participate in the daily auction over the internet. For more information, please go to www. In addition, the buyer must arrange transportation of the fish from the market.

Please contact us if you need any assistance.

How to buy

Information to the market

FMIS tries to keep market participants informed about expected supply of fish, partly via the web and also with direct communication by telephone. We value the relationship we have with our customers and try to provide all information possible.

Preparing the catch for transport

After the auction, we prepare the fish for transport according to the buyer's requirements, for example by adding ice and arranging tubs into containers.

Sorting by size

Our facilities in Arnarstapi, Grundarfjordur, Olafsvik, Rif and Stykkisholmur include equipment for sorting fish into size categories. The categories are defined by the Icelandic Fish Markets' Data Center.


Gutting is available in  Arnarstapi, Grundarfjordur, Olafsvik, Rif, Skagastrond and Stykkisholmur.

Our gutting station is MSC certified (MSC-C-55750). You can see here what species are certified and from which fishing gear. 


All fish is clearly labelled after the auction and made available for transport. The buyer can request that certain arrangements, such as gutting, are always made with his purchases.


Contact Us

We welcome your inquiries. All information is provided by our main office in Olafsvik.  |  Tel: +354 430 3700

Mailing address:

Fiskmarkadur Islands
355 Olafsvik

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