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Results of Bidding at the Fishing Auction Attract New Buyers

On July 7 another auction for sale of fish products from the Far East was organized at the trading floor of Saint-Petersburg Exchange JSC (SPE) together with Far East Auction Fish House JSC (FAFH).

Bidding client – company Koryakmoreproduct LLC – put for sale more than 1,700 tons of products. The lots include humpback salmon headed & gutted (HG), gutted, head on (gutted, HON) and round; chum salmon HG; humpback salmon and chum salmon roe (frozen saccate, frozen grained, salted); medicinal fish oil and salmon oil (Omega-3).

Buyers were also offered a new product – chum salmon and red salmon steaks. Bidding organizers took into account wishes of potential buyers and formed lots in the amount of 2-3 tons in order to make them available for purchase by both big wholesale merchants and representatives of small business.

For buyers’ comfort all the lots were divided into 4 groups, bidding for every of which took place during 1 hour, beginning from 9:00 Moscow time.

Director General of Far East Auction Fish House JSC, Sergey Lelyukhin, told Fishnews that transactions made in the course of the present bidding were very profitable for the buyers. For example, humpback salmon HG of the first grade was sold at the price of just about 72.6 rubles per kg (net of VAT), while average market wholesale price by the beginning of July was 145 rubles per kg. Delivery period of the product is September 1, 2015.

- After the present bidding we receive a lot of phone calls from companies wishing to participate in the next auctions, - I can say that activity on the part of buyers notably increased. At the same time I think that during the coming budding, that will take place on July 21, salmon will cost a bit more, taking into account the general situation at the market and the increasing demand (although it will, undoubtedly, be lower than the average market price). By now our prices for fish has been very attractive, - noted Sergey Lelyukhin.

In general, according to the representative of the Exchange, today’s bidding ran smoothly. Participants made transactions from their automated workstations right from FAHF office. At the same time Director General of Auction Fish House reminded that buyers that register in advance can make books from any place of the world on the Internet at the website of Saint Petersburg Exchange.

Within half an hour after completion of the bidding winners got signed and verified contracts, indicating terms and conditions of delivery of product purchased. According to Sergey Lelyukhin, for buyers’ convenience the agreements provide for sanctions for untimely delivery of products by a manufacturer, however, in the future it is planned provide for a possibility to insure transactions made at the auction as an additional option.

In the perspective, changes can touch upon conditions of product delivery too. “Today in accordance with the agreement fish products purchased is delivered to Vladivostok by a manufacturer. Therefore, a buyer has to resolve issues related to storage and transportation of the goods by itself. However, we have some arrangements so that in the future, in case of Northern Sea Route development, Murmansk will become a delivery basis”, informed Director General of FAFH.

Apart from participants and specialists of the exchange, the present bidding was attended by students of Far Eastern Federal University who were doing practical work at the Auction Fish House. After an official start of the auction we told them about a technology and conditions of e-auction conduct based on the example of one of the real lots.

 Fishnews

Date: 16.07.2015 All news