Sending Fish to Exchange
The fish exchange that Russia’s fishing authority Goskomrybolovstvo expects to curtail fish prices by at least 20 percent will be set into motion before this year-end. According to analysts, the trading will affect prices if its turnover is no less than 50 percent of all sales of fish and seafood in Russia, which annual worth is estimated at above $5 billion.
It was Sergei Chufistov, deputy general director at National Fish Resources (Natsrybresurs) that said that Goskomrybolovstvo would choose a site for the online trading this year. It could be the idle International Fish Exchange, where the fish auctions were held in 1990s, or the European-Asian Exchange, which auctioned the catch quotas in 2003 to 2007.
The National Fish Exchange will have branches in all coastal regions - Kaliningrad, Murmansk, Vladivostok, Yuzhno-Sakhalinsk, Petropavlovsk-Kamchatsky. The pilot trading will be held in the second half of December. The sellers will be fishing companies, while processing companies, wholesale and retail vendors will be the buyers.
Russia currently has roughly 5,700 fishing companies; the annual catch is estimated at 3.2 million tons of fish and seafood worth over $5 billion. The purpose of launching a new exchange is to remove intermediaries from the fish market and drive down the prices by at least 20 percent to 40 percent.
www.kommersant.com
All the Article in Russian as of Nov. 07, 2007
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