The renowned “shout auction” at the Peterhead fish market may soon become a thing of the past, as the port authority is deliberating the implementation of an electronic auction system. This potential shift indicates a significant departure from the traditional method of buyers verbally presenting their bids for fish crates at the UK’s largest fishing port.
Graeme Reid, the chief executive officer of Peterhead Port Authority, has indicated that the potential adoption of an electronic auction system is in response to the necessity of continuous operational review. The port is confronted with a threat to its fish landings due to the growing prevalence of electronic auctions in other markets, prompting the exploration of new approaches to optimize supply and stimulate demand.
The board is currently involved in an exhaustive consultation process to meticulously assess the implications and benefits of integrating an electronic auction system. Scheduled to conclude at the end of the month, the consultation seeks to gather input from various stakeholders to inform a well-informed decision regarding the potential transition.
The contemplation of an electronic auction system at the port is in response to recent occurrences, such as a boycott by processors last year that resulted in the absence of an auction at the market for the first time in recent history. These events have highlighted the necessity to adapt to the changing landscape of fish auctions and explore innovative methods to enhance market efficiency and effectiveness.
While the implementation of an electronic auction system could represent a substantial departure from the traditional “shout auction,” the port authority’s thorough and meticulous review of the potential change underscores its commitment to making informed decisions that will benefit all stakeholders involved.
As the consultation process continues, the outcome of this deliberation will undoubtedly shape the future of fish auctions at the Peterhead market. The extent to which technology will ultimately replace the age-old shout auction remains to be seen, but the ongoing discussions reflect the port authority’s dedication to ensuring that the market remains competitive and resilient in the face of evolving industry practices.