Sakhalin Fish Stock Exchange: Sberbank and the authorities on Sakhalin Island in Russia’s Far East are teaming up to develop an electronic fish exchange for the auction of fish caught in the region’s waters. Investment in the construction and implementation of the ‘fish stock exchange’ and logistics complex in the sea port of Korsakov are likely to be in the region of $150m. The proportion of fish to be auctioned through the exchange will be increased from 50% next year to 100% by 2020.
One of the project’s objectives is to boost consumption of domestically caught fish as well as to increase revenues from fish exports. Legislation is also being drafted to limit volumes offish imports.