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Fish and roe auctioned-off

The first fish and seafood auction was held on the Far East Fish Exchange trading floor on May 29. More than 2 thousand tons of humpback salmon, chum salmon, navaga and caviar were set for an e-auction.

Seller and auction customer is Koryakmoreproduct LLC. The total of 24 lots were set for the e-auction held on the trading floor of Far East Fish Exchange JSC (auction organizer). The lots included humpback salmon (headed and gutted, gutted head on and round), chum salmon (HG), navaga (round), frozen saccated roe (humpback) and frozen grained roe (chum/humpback). Detailed description of each lot (packaging, storage terms and conditions, yield place and date, composition) was placed on the site. Information on the auction procedure was also available on the site. Observers were offered an open access to the lot subject and size, reserve price (ex-stock Vladivostok) and auction step in rubles (the data were set by buyers). Buyers chose and priced the products on the web-site online.

Information on the auction was published one month before the auction start. Only legal entities and individual entrepreneurs qualified for the auction. According to the auction rules, the registration fee was 5,000 rubles. The winner was a tenderer who offered the highest price for the lot.

It should be noted that a tenderer had to make a refundable deposit in the amount of 2.5% of the lot reserve price for all the lots he was going to trade for. Otherwise he could not participate in the auction. The trading lasted for an hour. Bids were accepted on first in first out basis. The display showed tenderer’s bid and the best price for a particular moment.

“This is not the first time Koryakmoreproduct has participated in an e-auction on our trading floor. Price for the lots is on open access on our web-site, it is considerably lower than average market price and for some items it is half the wholesale price”, - Sergey Lelyukhin, Director general of Far East Fish Exchange JSC told Fishnews.

“We are working for the future in this case. We plan to extend the list of our regular buyers and, probably, to arrange futures transaction. Currently, such method of sale enables us to avoid traders and, consequently, get rid of their surcharge for the product, eliminate risks related to sales in high season when traders dump on the market and the railroad escalate their prices making us either pay for “progressive stock” or sell almost to the bad”, - mentioned Alexander Tkachenko, Director general of Koryakmoreproduct LLC.

Alexander Tkachenko appreciates the trading system and points out its advantages. According to Koryakmoreproduct Director general, the company managed to get “a very good price”. “For instance, the reserve price for humpback salmon gutted, HON grade 1 was 65 rubles per kilogram of product, while the best price was 71.50 rubles per kilogram. The price is VAT exclusive”, - said Director general of Koryakmoreproduct.

Let it be reminded that the first fish auctions were held at the exchange last summer. Salmon roe was auctioned off that time. The exchange itself was organized for e-trading in aquatic bioresources and products within the fish cluster in Primorsky region.


Date: 29.05.2015 All news