The Infomar Project will develop and demonstrate a multi-cultural information and trading network for fresh seafood, linking fishermen, processors, fish merchants, retailers and various supporting organisations (logistics, quality control, insurance and payment transfer) in order to increase efficiency and stability in seafood trading. The objectives and results of the project will be :
- increased stability in price and supply
- improved quality by reducing handling and delay
- increased productivity and profitability
- strengthening of traditional fishing communities by making them competitive
The demonstration project will be carried out in two phases:
1) Trade Information and Forecast Service (TIFS), based on catch and advanced landing reports from participating fishing vessels, weather forecasts, marine ecological data, number of vessels fishing from harbour authorities, quota status, intended transfer of fish between market areas, expected fluctuation in demand derived from buyers etc. Participating fishing vessels will be rewarded by getting access to price forecasts free of charge. The accuracy of prediction will increase with number of users.
2) Fish Exchange Trading Service (FETS), as a value-added module to the network where buyers and sellers can match their needs, agree on prices and define handling, processing and transport routes. All participating trading entities will be locally approved for trading within the system with valid quality, insurance and payment guarantees. This should minimise the need for credit clearance and enable the swift transactions needed in the business.
Infomar will create a real-time information highway linking fish buyers, sellers and fishing vessels. As a result, all members of the fishing community will benefit not only from data as to what is available of the market but - because of the link with the vessels - what will be available several days onward. With this advance indication of both supply and demand, buyers can plan their purchases and sellers can arrange to get their product to the market where its profitability will be highest. The result is higher value for the fish on the market at a more stable price, less waste and a more efficient use of a natural resource.
To achieve this aim, the commercial structure of Infomar will be based upon a franchising framework. A franchising organisation will own the concept and be responsible for developing and operating the system, making franchise contracts with fish brokers and various service providers selling their services within / through the system. The exploitation plan produced during the project will further define this franchising concept.
Funding SchemeCSC - Cost-sharing contracts