«Far Eastern Fish Exchange» will consider the experience of Asian colleagues

United electronic platform for the marine biological resources trading “Far Eastern Fish Exchange”, CJSC, established in Russia on the basis of the "St. Petersburg Exchange", CJSC, with the support of Russian Federal Fisheries Agency and "Rosselkhozbank", JSC, plans to use the relevant experience of electronic trading of similar Asia-Pacific businesses and promote the development of regional economy and improvement of the fishing industry, says DV-ROSS.

According to Sergey Lelyukhin, president of the "Far Eastern Fish Exchange", CJSC, electronic trading on the basis of the exchange trade of marine biological resources make it possible not only to optimize the ratio of buyers and sellers in this market segment, but also increase transparency of the transactions, excluding the chain of unnecessary intermediaries who just "inflate" prices for fish products.

Furthermore, international experience shows that the establishment of fish exchanges helps improve the fishing industry as a whole. It allows to create a system of planning the production and marketing processes, as the catch is traded immediately after the catch on board a fishing vessel at sea and is usually already shipped as contracted on arrival to the port, because while the ship comes to the shore, the fish auction already finds buyers.

Thus, the whole process "ship - the port - processing - delivery to retailers - sales to customers," of marine biological resources distribution becomes more rapid, predictable and manageable. This benefits all participants in the process, since the price increases for producers and reduces for consumers.

Asia-Pacific countries, such as Japan and South Korea were able to significantly improve the situation in their fishing industries, also because of the practice of electronic marine biological resources trading. It is allowed not only to improve the performance of companies, increase the profitability of their work and reduce the prices of seafood for ordinary consumers, but also to attract investments to the fishing industry, including foreign ones. It also creates a corresponding business culture and avoids the "gray schemes", which is now the primary task of the state.

There has already begun an implementation of the of the best practices of the Pacific Rim countries within the framework of the united electronic exchange platform. According to Sergei Lelyukhin, all goods undergoes an independent examination and quality audit, which is an additional guarantee for the bidders and eliminates the possibility of having "gray" seafood. For example, caviar salmon, the first lot on the stock exchange, which was traded in May 2014, successfully passed an independent examination and has been praised by experts, according to a press release of the Exchange.

Source: DV-ROSS online media