The government has auctioned some of its quota for horse mackerel and hake fish, raising N$68.4 million.

The Ministry of Finance yesterday announced the results of the auctions the Ministry of Agriculture, Fisheries, Water and Land Reform held on 22 May.

"The horse mackerel and hake fish auctions raised a total of N$68.4 million from the sale of 11 037 tonnes and the sale of 1 719 tonnes, respectively," executive director of finance Oscar Capelao said.

The total amount raised includes N$22 000 raised from application fees.

"The auctions showed a substantial improvement in prices and no residual metric tonnes were recorded," Capelao said.

The auction received nine bids for horse mackerel and seven for hake, with bidders subscribing for more tonnes of both freezer and wet catch than were available on auction.

The fisheries ministry in January reserved 35% of the total allowable catch of horse mackerel for the government.

The fishing season for horse mackerel will run until the end of December, while hake runs until the end of September.