A total of N.dollars 52.3 million was raised from the sale of 28 500 metric tonnes (MT) of Horse Mackerel under the Governmental Objective Fishing Quota.

The total was inclusive of N.dollars 11 000 raised from application fees for the total quota of 30 540 MT Horse Mackerel bids held on 31 March 2023.

A media release issued by the Ministry of Finance on Thursday said the two ministries considered the Horse Mackerel auction a success, with a slight improvement in prices from the reserve price.

An average of N.dollars 3 017.64 per quota for freezer Horse Mackerel was recorded this time from the N.dollars 3 000 recorded the previous season and N.dollars 754.02 from N.dollars 750 for Wet Horse Mackerel recorded from the previous auction.

“Such an outcome confirms auctioning as a good mechanism to facilitate price discovery in the sector and allocate natural resources to the market,” the statement read.

A total number of 2 040 MT were unallocated.

In February, the ministry announced the sale of N.dollars 110 million made from Hake under the 15 000 MT Governmental Objective Fishing Quota held on 16 December 2022.

Source: The Namibian Press Agency