Hvalur, Iceland's only fin whaling company, is planning a large export of about 1,500 tonnes of fin whale meat, mainly to Japan, after the closure of this year's fin whale whale hunting season. This will substantially increase the amount of whale meat in the Japanese market.

This season, 125 fin whales have been killed compared to the 2008 permit quota of nine. Hvalur is the only company authorised to hunt fin whales in Iceland and company owner Kristjan Loftsson confirmed that his company will make a profit from this year's whaling, last year,Hvalur sent approx 70 tons of whale meat to Japan.

Iceland has formally applied to join the European Union although it is hoped that the EU would not accept the application unless the country ceases whaling. Japan and Iceland, as well as several other nations, are exempt from the ban in the trade of fin whales under the Convention on International Trade in Endangered Species (CITES) because of reservations lodged by their respective governments.

This export could also lead to the exportation of other whale meat. The fin whale, which is globally listed as an endangered species, is also hunted by Iceland and it has been reported that minke whalers were interested in exporting whale meat should the fin whale consignment prove successful. This season the mile whale kill quota increased from 40 to 100.