Fish exchange market to be established in Murmansk

Russian authorities intend to establish five fish exchange markets, the first of which will be opened in Murmansk in July, Head of the Russian State Fishery Committee Andrey Krainy confirms.


According to Mr. Krainy, the exchange market will be run in cooperation between private and state companies. Among the private interests are the Murmansk Trawler Fleet and the North West Fish Industrial Company. The federal stake in the initiative will be operated by the state-owned Natsrybresursy company. None of the stakeholder in the exchange initiative will be entitled to own more than ten percent of the shares, Andrey Krainy said. The sales of fish products in market exchange sites will be opened up for in the new Law on Fisheries, to come into force from 1 January 2009, reports. Exchange markets are to be opened in Murmansk, Vladivostok, Kaliningrad, Petropavlovsk-Kamchatskii and Nevelsk.