Shetland Seafood Auctions was formed 1998 with the aim to maximise value to the fishermen. The electronic auction was introduced in August 2003 with the view to improve the supply and demand for whitefish landed in Shetland by allowing auction users to buy without being physically present.
The statistics clearly show the success of the company; weight of white fish landed has more than tripled and the value of landings has increased more than five-fold since the electronic auction was introduced. The average price per kg received for all species has almost doubled from £1.25 to £2.40. The remarkable growth demonstrates the significant contribution made by the company in the economic development of the white fish industry in Shetland.
The continued investment by Shetland Seafood Auctions will ensure that the buying and selling of Shetland seafood remains at the forefront of the industry and helps maintain Shetland’s reputation for excellent quality seafood.