Pub Date : 2022-04-21DOI: 10.1080/13657305.2022.2063453
Yeowoon Park, Hayeon Joo, Junghoon Moon
Abstract Despite recent dramatic growth in seafood consumption worldwide, knowledge about seafood demand is limited relative to other protein sources. We model demand across three major protein categories (i.e., terrestrial meat, seafood, and plant-based protein) in South Korea to fill the research gap. This study models a quadratic almost ideal demand system (QUAIDS) by utilizing household panel data. The study takes this one step further by modeling demand within four seafood categories (i.e., fish, cephalopods, shellfish, and crustaceans). Sociodemographic variables, including health-related factors, are incorporated into the demand models. Results indicate that seafood is in a complementary relationship with terrestrial meat while it is a substitute for plant-based protein. All four seafood categories are a substitute for each other. The results reveal that people who take their health seriously tend to consume more seafood, particularly fish. The results have economic and marketing implications for which strategies could be adopted to influence seafood consumption.
{"title":"Modeling the demand across three major protein sources: Focusing on seafood protein","authors":"Yeowoon Park, Hayeon Joo, Junghoon Moon","doi":"10.1080/13657305.2022.2063453","DOIUrl":"https://doi.org/10.1080/13657305.2022.2063453","url":null,"abstract":"Abstract Despite recent dramatic growth in seafood consumption worldwide, knowledge about seafood demand is limited relative to other protein sources. We model demand across three major protein categories (i.e., terrestrial meat, seafood, and plant-based protein) in South Korea to fill the research gap. This study models a quadratic almost ideal demand system (QUAIDS) by utilizing household panel data. The study takes this one step further by modeling demand within four seafood categories (i.e., fish, cephalopods, shellfish, and crustaceans). Sociodemographic variables, including health-related factors, are incorporated into the demand models. Results indicate that seafood is in a complementary relationship with terrestrial meat while it is a substitute for plant-based protein. All four seafood categories are a substitute for each other. The results reveal that people who take their health seriously tend to consume more seafood, particularly fish. The results have economic and marketing implications for which strategies could be adopted to influence seafood consumption.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"27 1","pages":"159 - 184"},"PeriodicalIF":3.9,"publicationDate":"2022-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46441406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-04DOI: 10.1080/13657305.2022.2058113
J. Moor, Andrew Ropicki, T. Garlock
Abstract As filter feeders, mollusks’ growth is completely reliant on the natural environment. This leaves clam aquaculture, and more generally molluskan aquaculture, highly susceptible to environmental risks such as harmful algal blooms (HABs) and low salinity events. As marine environments change, whether due to climatic or nutrient related variations, there may be new risk combinations that farmers have yet to encounter. To analyze the financial effects of environmental risks on clam farmers in the Gulf of Mexico, we conducted a Monte–Carlo experiment, varying risk combinations and correlations among scenarios. Simultaneous stressors showed a significant impact on individual firms, decreasing average profit by 71% and internal rate of return (IRR) by 83% when compared to best case baseline scenarios without environmental risk, indicating a potential need for risk mitigation strategies. While our analysis focuses on Florida Gulf of Mexico clam farmers, the model presented is applicable to molluskan aquaculture globally.
{"title":"Clam aquaculture profitability under changing environmental risks","authors":"J. Moor, Andrew Ropicki, T. Garlock","doi":"10.1080/13657305.2022.2058113","DOIUrl":"https://doi.org/10.1080/13657305.2022.2058113","url":null,"abstract":"Abstract As filter feeders, mollusks’ growth is completely reliant on the natural environment. This leaves clam aquaculture, and more generally molluskan aquaculture, highly susceptible to environmental risks such as harmful algal blooms (HABs) and low salinity events. As marine environments change, whether due to climatic or nutrient related variations, there may be new risk combinations that farmers have yet to encounter. To analyze the financial effects of environmental risks on clam farmers in the Gulf of Mexico, we conducted a Monte–Carlo experiment, varying risk combinations and correlations among scenarios. Simultaneous stressors showed a significant impact on individual firms, decreasing average profit by 71% and internal rate of return (IRR) by 83% when compared to best case baseline scenarios without environmental risk, indicating a potential need for risk mitigation strategies. While our analysis focuses on Florida Gulf of Mexico clam farmers, the model presented is applicable to molluskan aquaculture globally.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"884 1","pages":"283 - 300"},"PeriodicalIF":3.9,"publicationDate":"2022-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60198096","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-16DOI: 10.1080/13657305.2022.2046204
K. Hossain, Jianhong Xue, Md. Ghulam Rabbany
Abstract Bangladesh, like many developing countries, has taken various aquaculture product quality and safety control measures. However, it is little is known about Bangladeshi consumers' preferences, and in particular, whether they are willing to pay a price premium for safety improvements and what are the determinants of their WTP. This paper assesses consumers’ preferences and WTP for Hazard Analysis Critical Control Point (HACCP) of certified frozen farmed fish (major carps). Findings indicate that Bangladeshi consumers, on average, are ready to pay a premium of 24.62% more for HACCP-certified frozen major carps. Results also indicate that education, income, consumption frequency, perceived fish safety risk, taste, and freshness are the significant determinants of consumers’ WTP for HACCP certified frozen major carps.
{"title":"Consumers’ willingness to pay (WTP) for HACCP certified frozen farmed fish: A consumer survey from wet markets in Dhaka, Bangladesh","authors":"K. Hossain, Jianhong Xue, Md. Ghulam Rabbany","doi":"10.1080/13657305.2022.2046204","DOIUrl":"https://doi.org/10.1080/13657305.2022.2046204","url":null,"abstract":"Abstract Bangladesh, like many developing countries, has taken various aquaculture product quality and safety control measures. However, it is little is known about Bangladeshi consumers' preferences, and in particular, whether they are willing to pay a price premium for safety improvements and what are the determinants of their WTP. This paper assesses consumers’ preferences and WTP for Hazard Analysis Critical Control Point (HACCP) of certified frozen farmed fish (major carps). Findings indicate that Bangladeshi consumers, on average, are ready to pay a premium of 24.62% more for HACCP-certified frozen major carps. Results also indicate that education, income, consumption frequency, perceived fish safety risk, taste, and freshness are the significant determinants of consumers’ WTP for HACCP certified frozen major carps.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"27 1","pages":"143 - 158"},"PeriodicalIF":3.9,"publicationDate":"2022-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46579633","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-14DOI: 10.1080/13657305.2022.2038719
A. Schmitz, Ly T. T. Nguyen
Abstract We develop a theoretical trade model based on classical welfare economics and apply it empirically to both importers and exporters of shrimp, the most traded seafood, to determine the effects of the Covid-19 pandemic on shrimp produced and consumed in the U.S. and globally. We consider two time periods and compare these to the base period before the pandemic. Period 1 (March–June 2020): there is a net economic loss globally of $194 million due to lockdowns. Period 2 (July 2020–June 2021): there is a net welfare gain globally of $885 million due to increased shrimp demand. Overall, the global net economic gain was $692 million. For the United States alone, shrimp consumers gained $470 million while shrimp producers gained $24 million, which is relatively consistent with the net quasi-consumer gain of $475 million due to the Covid-19 pandemic.
{"title":"Seafood supply and demand disruptions: The Covid-19 pandemic and shrimp","authors":"A. Schmitz, Ly T. T. Nguyen","doi":"10.1080/13657305.2022.2038719","DOIUrl":"https://doi.org/10.1080/13657305.2022.2038719","url":null,"abstract":"Abstract We develop a theoretical trade model based on classical welfare economics and apply it empirically to both importers and exporters of shrimp, the most traded seafood, to determine the effects of the Covid-19 pandemic on shrimp produced and consumed in the U.S. and globally. We consider two time periods and compare these to the base period before the pandemic. Period 1 (March–June 2020): there is a net economic loss globally of $194 million due to lockdowns. Period 2 (July 2020–June 2021): there is a net welfare gain globally of $885 million due to increased shrimp demand. Overall, the global net economic gain was $692 million. For the United States alone, shrimp consumers gained $470 million while shrimp producers gained $24 million, which is relatively consistent with the net quasi-consumer gain of $475 million due to the Covid-19 pandemic.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"359 - 383"},"PeriodicalIF":3.9,"publicationDate":"2022-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42683160","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-16DOI: 10.1080/13657305.2022.2038720
Shraddha Hegde, G. Kumar, C. Engle, Jimmy L. Avery, Suja Aarattuthodi, Jeffrey C. Johnson, Jonathan van Senten
Abstract The U.S. catfish industry is evolving by adopting intensive farming practices such as intensively aerated ponds and split-pond systems. The functional relationship between fish yield and key production inputs in these intensive systems was analyzed based on commercial catfish production data from 143 pond observations (2010−2018). A Cobb-Douglas production function was employed for the intensively aerated ponds and a modified translog production function was used to define the production relationships in split ponds. Results indicated that the size of fingerlings at stocking, stocking density, aeration rate, feeding rate, survival, and harvest size of the fish were statistically significant variables influencing fish production in intensively aerated ponds. Initial fingerling stocking biomass (interaction of stocking size and stocking density), feed conversion ratio (FCR), feeding rate, and pond size were the most important variables influencing production in split-pond systems. Feed fed, as well as stocking biomass, were the significant variables found in both models. Both production functions indicated further scope for improvement in the use of inputs to increase production, especially in feed management.
{"title":"Production economic relationships in intensive U.S. catfish production systems","authors":"Shraddha Hegde, G. Kumar, C. Engle, Jimmy L. Avery, Suja Aarattuthodi, Jeffrey C. Johnson, Jonathan van Senten","doi":"10.1080/13657305.2022.2038720","DOIUrl":"https://doi.org/10.1080/13657305.2022.2038720","url":null,"abstract":"Abstract The U.S. catfish industry is evolving by adopting intensive farming practices such as intensively aerated ponds and split-pond systems. The functional relationship between fish yield and key production inputs in these intensive systems was analyzed based on commercial catfish production data from 143 pond observations (2010−2018). A Cobb-Douglas production function was employed for the intensively aerated ponds and a modified translog production function was used to define the production relationships in split ponds. Results indicated that the size of fingerlings at stocking, stocking density, aeration rate, feeding rate, survival, and harvest size of the fish were statistically significant variables influencing fish production in intensively aerated ponds. Initial fingerling stocking biomass (interaction of stocking size and stocking density), feed conversion ratio (FCR), feeding rate, and pond size were the most important variables influencing production in split-pond systems. Feed fed, as well as stocking biomass, were the significant variables found in both models. Both production functions indicated further scope for improvement in the use of inputs to increase production, especially in feed management.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"314 - 331"},"PeriodicalIF":3.9,"publicationDate":"2022-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46976524","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-04DOI: 10.1080/13657305.2022.2033883
Arnar Buason, S. Agnarsson, K. Rickertsen
Abstract We investigated the purchases of salmon sold under the Label Rouge quality label in France. A flexible infrequency of purchases model was estimated using French scanner data. The results show that consumers’ perceptions differ substantially between fresh salmon labeled as Label Rouge and other fresh salmon and confirm that Label Rouge results in product differentiation. Furthermore, consumers of Label Rouge salmon neither reduce the consumption frequency of Label Rouge salmon nor switches to other types of fish when the price of Label Rouge salmon increases. However, total sales of Label Rouge salmon will be reduced when the price increases. The average Label Rouge consumer is an older middle-class person from Paris. Marketing activities should specifically target this group of consumers.
{"title":"How often, how much? An analysis of Label Rouge salmon purchases in France","authors":"Arnar Buason, S. Agnarsson, K. Rickertsen","doi":"10.1080/13657305.2022.2033883","DOIUrl":"https://doi.org/10.1080/13657305.2022.2033883","url":null,"abstract":"Abstract We investigated the purchases of salmon sold under the Label Rouge quality label in France. A flexible infrequency of purchases model was estimated using French scanner data. The results show that consumers’ perceptions differ substantially between fresh salmon labeled as Label Rouge and other fresh salmon and confirm that Label Rouge results in product differentiation. Furthermore, consumers of Label Rouge salmon neither reduce the consumption frequency of Label Rouge salmon nor switches to other types of fish when the price of Label Rouge salmon increases. However, total sales of Label Rouge salmon will be reduced when the price increases. The average Label Rouge consumer is an older middle-class person from Paris. Marketing activities should specifically target this group of consumers.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"27 1","pages":"124 - 142"},"PeriodicalIF":3.9,"publicationDate":"2022-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46964198","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-10DOI: 10.1080/13657305.2021.2008049
Prokash Deb, M. Dey, Prasanna Surathkal
Abstract Price volatility is an important factor in the fish value chain influencing the costs, trade, income, and food security. Therefore, analysis of fish price volatility dynamics can provide valuable insights into the impact of aquaculture growth in Bangladesh, a developing country where much of the animal source protein is obtained through fish consumption. In this article, we use both descriptive analysis and time-series econometric modeling to understand the price volatility dynamics of four major aquaculture products at retail level, as well as the efficiency of the markets to adjust to price shocks. We analyze publicly available retail fish prices observations from January 2007 to December 2019. This period is characterized by a rapid growth in aquaculture output as the inland aquaculture sector of Bangladesh shifted away from largely low-intensity farming toward commercialization. Our results indicate Bangladesh is experiencing lower fish price volatility during recent years. Therefore, we argue that rapid growth in aquaculture output in Bangladesh has contributed to lower volatility of fish prices. The article also sheds light on the volatility persistence and finds almost all the markets are inefficiently adjusting to price shock, indicating that there is more room for improving the functioning of fish markets in Bangladesh.
{"title":"Fish price volatility dynamics in Bangladesh","authors":"Prokash Deb, M. Dey, Prasanna Surathkal","doi":"10.1080/13657305.2021.2008049","DOIUrl":"https://doi.org/10.1080/13657305.2021.2008049","url":null,"abstract":"Abstract Price volatility is an important factor in the fish value chain influencing the costs, trade, income, and food security. Therefore, analysis of fish price volatility dynamics can provide valuable insights into the impact of aquaculture growth in Bangladesh, a developing country where much of the animal source protein is obtained through fish consumption. In this article, we use both descriptive analysis and time-series econometric modeling to understand the price volatility dynamics of four major aquaculture products at retail level, as well as the efficiency of the markets to adjust to price shocks. We analyze publicly available retail fish prices observations from January 2007 to December 2019. This period is characterized by a rapid growth in aquaculture output as the inland aquaculture sector of Bangladesh shifted away from largely low-intensity farming toward commercialization. Our results indicate Bangladesh is experiencing lower fish price volatility during recent years. Therefore, we argue that rapid growth in aquaculture output in Bangladesh has contributed to lower volatility of fish prices. The article also sheds light on the volatility persistence and finds almost all the markets are inefficiently adjusting to price shock, indicating that there is more room for improving the functioning of fish markets in Bangladesh.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"462 - 482"},"PeriodicalIF":3.9,"publicationDate":"2022-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43251192","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-28DOI: 10.1080/13657305.2021.2019353
Zhijiang Yu, H. Bai
Abstract This paper investigates the recovery period of consumer salmon purchase intention after food scares at the Xinfadi wholesale market in China during the COVID-19 pandemic and examines the impact mechanism of risk preference and risk perception on the period duration. Our empirical analysis is based on a survey of 655 salmon consumers in Beijing, Tianjin, and Shanghai. We estimate that the purchase intention recovery period lasts 21 weeks among the surveyed consumers after the shock. Although the epidemic risk levels of the three cities are different, there is a significant difference only in the recovery period from 5 to 7th weeks. The Cox proportional hazards model results further show that consumers with less risk-averse are more active in resuming purchase intention, and the effect of risk perception is just the opposite. Moreover, risk perception has a moderating effect on risk preference and recovery period. Finally, we put forward three possible policy implications: attaching nucleic acid detection certificate, strengthening cold chain management, and diversifying cooking methods.
{"title":"Risk preference, risk perception, and purchase recovery period: Empirical evidence from salmon contamination of COVID-19 in China","authors":"Zhijiang Yu, H. Bai","doi":"10.1080/13657305.2021.2019353","DOIUrl":"https://doi.org/10.1080/13657305.2021.2019353","url":null,"abstract":"Abstract This paper investigates the recovery period of consumer salmon purchase intention after food scares at the Xinfadi wholesale market in China during the COVID-19 pandemic and examines the impact mechanism of risk preference and risk perception on the period duration. Our empirical analysis is based on a survey of 655 salmon consumers in Beijing, Tianjin, and Shanghai. We estimate that the purchase intention recovery period lasts 21 weeks among the surveyed consumers after the shock. Although the epidemic risk levels of the three cities are different, there is a significant difference only in the recovery period from 5 to 7th weeks. The Cox proportional hazards model results further show that consumers with less risk-averse are more active in resuming purchase intention, and the effect of risk perception is just the opposite. Moreover, risk perception has a moderating effect on risk preference and recovery period. Finally, we put forward three possible policy implications: attaching nucleic acid detection certificate, strengthening cold chain management, and diversifying cooking methods.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"27 1","pages":"96 - 123"},"PeriodicalIF":3.9,"publicationDate":"2021-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44379088","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-22DOI: 10.1080/13657305.2021.2011988
Y. Aung, L. Khor, N. Tran, M. Akester, M. Zeller
Abstract This study analyzed the determinants and potential impacts of the adoption of sustainable aquaculture (SA) technologies on the welfare of small-scale aquaculture (SSA) households in Myanmar using an endogenous switching regression model. Welfare is measured by fish productivity and fish income per cycle and Household Dietary Diversity Score. Our analysis revealed that distance to the sale-point, membership in farmers’ organizations, awareness of pond maintenance benefits, access to information through private extension services, and location were the main drivers behind adopting SA technologies. Results showed that adopting SA technologies increases welfare outcomes of SSA households; however, the non-adopters stand to benefit the most in terms of an increase in welfare outcomes if they adopt the technologies. Our research findings suggested that policies targeted at raising SSA households’ income and dietary diversity can be realized through interventions to raise farmer’s awareness, adoption, and technical know-how about the SA technologies.
{"title":"The impact of sustainable aquaculture technologies on the welfare of small-scale fish farming households in Myanmar","authors":"Y. Aung, L. Khor, N. Tran, M. Akester, M. Zeller","doi":"10.1080/13657305.2021.2011988","DOIUrl":"https://doi.org/10.1080/13657305.2021.2011988","url":null,"abstract":"Abstract This study analyzed the determinants and potential impacts of the adoption of sustainable aquaculture (SA) technologies on the welfare of small-scale aquaculture (SSA) households in Myanmar using an endogenous switching regression model. Welfare is measured by fish productivity and fish income per cycle and Household Dietary Diversity Score. Our analysis revealed that distance to the sale-point, membership in farmers’ organizations, awareness of pond maintenance benefits, access to information through private extension services, and location were the main drivers behind adopting SA technologies. Results showed that adopting SA technologies increases welfare outcomes of SSA households; however, the non-adopters stand to benefit the most in terms of an increase in welfare outcomes if they adopt the technologies. Our research findings suggested that policies targeted at raising SSA households’ income and dietary diversity can be realized through interventions to raise farmer’s awareness, adoption, and technical know-how about the SA technologies.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"27 1","pages":"66 - 95"},"PeriodicalIF":3.9,"publicationDate":"2021-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44429453","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-11-26DOI: 10.1080/13657305.2021.2008050
Shraddha Hegde, G. Kumar, C. Engle, T. Hanson, Luke A. Roy, Jonathan van Senten, Jeffrey C. Johnson, Jimmy L. Avery, Suja Aarattuthodi, Sunni Dahl, L. Dorman, Mark Peterman
Abstract The catfish industry is the largest U.S. aquaculture sector and a major contributor to the rural economies of the Southern states of Alabama, Arkansas, and Mississippi. Economic contributions of this industry to the tristate region were estimated using an input-output modeling approach with the IMPLAN database and software (Impact Analysis for Planning MIG, Inc.). An analysis-by-parts approach was employed as the IMPLAN database does not disaggregate the catfish sector from other livestock industries which have expenditure patterns that differ substantially from those of catfish. All major actors of the catfish industry, i.e. feed mills, hatcheries, foodfish farms, and processing plants, were surveyed to obtain their expenditure patterns and output in terms of sales. Data were obtained from 68 farms (hatcheries and foodfish combined), four feed mills, and eight processing plants in the tristate region. Sales and expenditure values were converted to coefficients employing standard enterprise budgeting techniques and imported to the IMPLAN model for estimating industry contributions during 2019. The direct output from the catfish industry ($1.10 billion) generated a total economic contribution of $1.91 billion. The industry directly employed 4,298 people and created an additional 4,868 jobs in the tristate economy for a total employment effect of 9,166 jobs. Catfish industry spending created an indirect economic effect of $552 million in other secondary sectors that supplied production inputs and services. The induced economic effect generated from household spending amounted to $254 million. Some of the key sectors influenced by the catfish industry were grain farming, banking and financial institutions, truck transportation services, electricity generation, equipment, and machinery manufacturing. The industry also generated $78 million in local, state, and federal taxes. This study provides critical insights for policymakers and others into the contribution of the U.S. farm-raised catfish industry to local and regional economies as well as its diverse-industry interconnections.
{"title":"Economic contribution of the U.S. catfish industry","authors":"Shraddha Hegde, G. Kumar, C. Engle, T. Hanson, Luke A. Roy, Jonathan van Senten, Jeffrey C. Johnson, Jimmy L. Avery, Suja Aarattuthodi, Sunni Dahl, L. Dorman, Mark Peterman","doi":"10.1080/13657305.2021.2008050","DOIUrl":"https://doi.org/10.1080/13657305.2021.2008050","url":null,"abstract":"Abstract The catfish industry is the largest U.S. aquaculture sector and a major contributor to the rural economies of the Southern states of Alabama, Arkansas, and Mississippi. Economic contributions of this industry to the tristate region were estimated using an input-output modeling approach with the IMPLAN database and software (Impact Analysis for Planning MIG, Inc.). An analysis-by-parts approach was employed as the IMPLAN database does not disaggregate the catfish sector from other livestock industries which have expenditure patterns that differ substantially from those of catfish. All major actors of the catfish industry, i.e. feed mills, hatcheries, foodfish farms, and processing plants, were surveyed to obtain their expenditure patterns and output in terms of sales. Data were obtained from 68 farms (hatcheries and foodfish combined), four feed mills, and eight processing plants in the tristate region. Sales and expenditure values were converted to coefficients employing standard enterprise budgeting techniques and imported to the IMPLAN model for estimating industry contributions during 2019. The direct output from the catfish industry ($1.10 billion) generated a total economic contribution of $1.91 billion. The industry directly employed 4,298 people and created an additional 4,868 jobs in the tristate economy for a total employment effect of 9,166 jobs. Catfish industry spending created an indirect economic effect of $552 million in other secondary sectors that supplied production inputs and services. The induced economic effect generated from household spending amounted to $254 million. Some of the key sectors influenced by the catfish industry were grain farming, banking and financial institutions, truck transportation services, electricity generation, equipment, and machinery manufacturing. The industry also generated $78 million in local, state, and federal taxes. This study provides critical insights for policymakers and others into the contribution of the U.S. farm-raised catfish industry to local and regional economies as well as its diverse-industry interconnections.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"384 - 413"},"PeriodicalIF":3.9,"publicationDate":"2021-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47370671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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