Monday, December 30, 2019

Russia Auctions Barents Sea King Crab Quotas for €600 Million

From the Barents Observer:
Russia’s new move, going from a quota distribution system based on historical catch to auctions, has generated big revenue to the federal government.

Historically, quotas for King Crab in both the Pacific waters and the Barents Sea has been distributed without much income for Moscow. 2019, though, is the first year when 50 per cent of the quotas have been auctioned, based on lots announced by Rosrybolovstvo, the Federal Agency for Fishery.

Valid for the coming 15 years, the agency announced 41 lots in October, of which 10 were in the Barents Sea, and 31 in the Far East. In total over the years, the catch will be 46.000 tons in the Pacific- and Barents Seas.

As a result of the auction of crab quotas, the federal budget receives 142 billion rubles (about €2 billions) the fishery agency informs....

In other crustacean news:
November 2019 
Arctic King Crabs Have Conquered The Barents Sea; May Head For the UK Next 
They may be big but the British crabs are sociopathic gangsta wannabes:

February 2019 
"Norway has full supremacy over Svalbard snow crabs, Supreme Court rules"
Long may it reign!