Fish auctions raise N$29m
The government raised approximately N$29.1 million from the auction of 3 500 tonnes of pilchard and 1 000 tonnes of monk fish, with both auctions clearing above their respective reserve prices.
The pilchard auction, held on 4 September, offered 5 000 tonnes but attracted bids for 3 500 tonnes.
The 3 500 tonnes was allotted at a total value of N$13.87 million, including N$2 000 in application fees.
The weighted average price was N$3 962.86 a tonne, compared with the N$2 700 reserve price. The highest bid was N$4 310 a tonne, while the lowest or marginal price was N$3 500.
The auction received 22 bids, with two bids allotted in full. No bids were partially allotted.
The auction left 1 500 tonnes unallocated.
The monk fish auction, held on 17 July, generated N$15.26 million from the sale of the full 1 000 tonnes offered, including N$6 000 in application fees.
The weighted average price was N$15 250 a tonne, against a reserve price of N$10 000. The highest bid was N$15 400, while the lowest or marginal price was N$12 000.
The auction attracted 66 bids, with two allotted in full and one partially allotted.
The ministry of finance and the ministry of fisheries said the monk fish auction had no residual quota.
The results were released by the ministries this week Wednesday.
