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Namibia raised N$110 million from an auction of 15 000 metric tonnes of Hake held in December last year, an exercise that showed improved prices. The amount is inclusive of N$10,000 raised from application fees said the Ministry of Finance Public Relations Officer Wilson Shikoto
Namibia raised N$110 million from an auction of 15 000 metric tonnes of Hake held in December last year, an exercise that showed improved prices. The amount is inclusive of N$10,000 raised from application fees, said the Ministry of Finance Public Relations Officer Wilson Shikoto. The Ministry of Finance & Public Enterprises and Fisheries & Marine Resources consider the Hake auction a success, as shown in improved prices from the reserve price of N$7,000 to an average of N$8,592.55 for Wet Hake and N$9,000 to N$10,207.41 for Freezer Hake.
The latest auction results come as the government raised N$567 million in total from Governmental Objective Fish Quota auctions of 2021, where six auctions were held with 86,040 metric tonnes auctioned off. The government in 2020 resolved to sell the fish quota through a competitive auction system to the highest bidder, as part of efforts to ensure that the country receives the correct value of its fishery resources and fully benefits from its natural resources.
There are at least 13 varieties of commercially fished species of hake throughout the world, and although there are differences in appearance, they all share similar culinary traits regarding taste & texture. Hake accounts for as much as 80% of the wild-caught fish along the South African coast. More than 50% of the fishery value of Southern Africa is made up of the hake industry. It is also the oldest commercial fishery in the country.
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The auctions are being held in line with Section 3(3) of the Marine Resources Act, Act No. 17 of 2000 as amended, which makes provision for the State to utilise or harvest marine resources to advance any social-economic, cultural or other governmental objectives in the public interest, through an entity or person designated by the Minister, on direction from Cabinet.
