Russia continues to push forward with crab quota auction, with 10% discount

The auction involves 20% of the quota in five fishing areas in the Barents Sea. The winning bidder must build three new crab fishing boats and two land processing plants as required. The deadline for bidding is November 22, and the starting price for each fishing area is 11.5 billion rubles (equivalent to US$117.8 million). The quota auction for the Northern Basin was originally scheduled to be held on November 13, with a starting price of 12.8 billion rubles, but no company was willing to pay. The Russian authorities also announced that another 16-year quota auction in the Far East will be held on November 28, involving snow crab and horsehair crab quotas in the Western Sakhalin Island Division, brown king crab and blue king crab quotas in the Eastern Sakhalin Island Division, and golden king crab quotas in the Southern Kuril Island Division. The quota for brown king crab in the Primorie sub-region will be cancelled. The successful bidder will be required to build a brand new ...