BarentsNews.com

So far in 2002, it was sold quotas allocated to catch of aqua bio resources for a total amount of 10,63 billion RUB (ab. USD 343 mill), while if sold at start prices the amount would be 5,8 billion RUB ( ab. USD 187 mill).

This information was presented by the Ministry of Economical Development and Trading of Russian Federation. This ministry among the others came up with the idea and now administrates fishing auctions.

11 auctions have taken place so far. 8405 lots were offered during these auctions. 5082 lots haven’t been sold. The average selling price accounts to 231 percent of the start price. 849 companies participated in auctions.