Tridge summary
The Russian Federal Fisheries Agency (Rosrybolovstvo) is holding two major crab fishing quota auctions on November 28, with a total value of approximately US$590 million. The first auction will be for 20% of the quota in the Barents Sea fishing area, with a starting price of 11.5 billion Rubles, and the successful bidder will be required to build three new crab fishing boats and two land processing plants. The second auction will be for quotas for multiple crab species in the Far East, with a starting price of 1.6 billion rubles. These auctions have been postponed multiple times due to lack of interest from the market. Russia aims to increase its fishing quota for all crab species to 109,800 tons by 2025, a year-on-year increase of 3.4%, and to revitalize the market and modernize the fishing industry through these large-scale auctions.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
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 ...
Source: Foodmate
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