New company aims to stabilize fish prices in Mass.
A new company called Open Ocean Trading is offering commercial fishermen in Massachusetts another option for selling their catch besides the conventional seafood display auction.
Company founder Keith Flett, 31, who launched his venture at the Boston Seafood Show in the spring, said his goal is to help fishermen and buyers by bringing them together to agree on the selling price before a boat leaves the dock.
Prices at the display auction are unpredictable and fluctuate daily, Flett said. “Our way gives everyone in the industry more stability because it allows the buyers and the fishermen to plan ahead. It’s essentially an auction that happens before the boat leaves.”
Flett who grew up in a Long Island fishing family, said he was in his early 20s when he began buying fish wholesale in Montauk, N.Y., and selling it around the state. “I learned a lot about the supply chain,” he said.