Russia auctions crab fishing quota at a discount

The Russian Federal Fisheries Agency (Rosrybolovstvo) recently announced that it will hold two major crab fishing quota auctions on November 28, with a total amount expected to reach approximately US$590 million, and a 10% discount on the starting price. This move is aimed at boosting market demand, attracting investors, and promoting the construction of fishing industry infrastructure. Northern Basin: Restarting the auction of the Barents Sea fishing area The Barents Sea is an important crab fishing area in the northern basin of Russia. This auction will cover 20% of the quota of the five fishing areas in the region, with a starting price of 11.5 billion Rubles (about 117.8 million US dollars). The successful bidder is required to undertake the construction of three new crab fishing boats and two land processing plants. The deadline for bidding in this auction is November 22. Previously, this batch of quotas was originally scheduled to be auctioned on November 13 with a starting ...