Kamchatka crab quotas will be sold at a discounted price in Russia 01:40

The Federal Fisheries Agency will offer Kamchatka crab catch quotas in the Barents Sea for 1.3 billion rubles cheaper. This was reported by RBC.

This decision was taken because the tender planned to be held on November 13 could not be held due to lack of applications. It was assumed that contracts would be signed with the winners of the auctions, stipulating the mandatory construction of fishing vessels and logistics complexes for a period of 15 years.

Initially, lots were exhibited with a starting price of 12.8 billion rubles. Each. New auctions at a price of 11.5 billion rubles. It will be held at the end of the month – November 28.

Crab fishing quotas put up for auction in 2024 in the Northern Basin are overestimated, Executive Director of the North-West Fisheries Consortium Sergei Nesvetov said in a conversation with the publication. The demand for Kamchatka crabs was high, but due to the increase in the key rate and obligations for the construction of ships and logistics complexes, the income from crab batches will be approximately one and a half times lower than the interest on purchase loans.

In addition, the largest associations of the fishing industry warned in October that the profitability of enterprises taking out loans for the purchase of quotas, as well as for the construction of ships and factories, is falling.

Russian crab fishermen in the small and medium business segment this year reported for the loss of “historical” crab catch volumes after the distribution of catch quotas at auctions. In particular, the Khabarovsk Eastern Fishing Company has asked President Vladimir Putin for permission to catch more crabs. By 2024, the company has lost 54% to 85% of its production volume.

Manufacturers before warned about increasing prices of fish and seafood.