Iceland's government said Friday it would cut cod fishing quotas by 30 per cent in the upcoming fishing season to protect cod stocksM, according to dpa. Icelandic fishermen would be allowed to land 130,000 tons in the next fishing season effective September 1. The cod quota for the current season that ends August 31 is 193,000 tons. Agriculture and Fisheries Minister Einar K Gudfinnson announced the cuts that were in line with recommendations made in June by the Marine Research Institute that reductions were necessary to protect cod stocks.