Government’s Horse Mackerel auction has raised a total of N$52.3 million from the sale of 28,500 MT, inclusive of N$11,000 raised from application fees.
This was as a result of the auctioning of the Governmental Objective Fishing Quota of 30,540 MT Horse Mackerel, bids held on 31 March 2023.
“The Ministry of Finance and Fisheries and Marine Resources consider the Horse Mackerel auction a success, as shown in improved prices from the reserve price of N$3,000 to an average of N$3,017.64 for Freezer Horse Mackerel and N$750 to N$754.02 for Wet Horse Mackerel. Such an outcome confirms auctioning as a good mechanism to facilitate price discovery in the sector and allocate natural resources to the market,” the Ministry’s said in statement.