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Economic, Socio-Demographic and Psychographic Determinants of Milkfish Consumer Demand, Iloilo Province, Philippines

Reynold D. Tan, Pabuayon. Isabelita M., Agnes C. Rola, Zenaida M. Sumalde and Jose M. Yorobe

Journal of Economics, Management & Agricultural Development, 2017, vol. 3, issue 2

Abstract: This paper attempts to identify the factors that affect the demand for milkfish in Iloilo Province and consequently suggest improvement in the overall competitiveness of the local milkfish industry. Knowing the determinants of demand will guide economic agents to deliver products consistent with specifications desired by consumers. The paper is based on a research conducted in the Province of Iloilo, Philippines using primary data gathered through personal interview of 378 purchase–decision makers. Employing the two-stage least squares method, endogeneity in the model was corrected using an instrumental variable approach. Per capita consumption of milkfish was estimated for the parameters of hypothesized determinants including economic, socio-demographic, and psychographic/behavioral characteristics relating to consumption trends. Demand determinants that were found significant are prices of beef and tilapia; educational attainment, gender and age of the purchase decision-maker, and household size; and psychographics relating to food safety and product traceability. It is recommended that adjustments in production and marketing operations be made to improve the overall competitiveness of the milkfish industry. These are: 1) improvement in production efficiency to reduce cost and be able to sell milkfish at competitive price, 2) adoption of proper postharvest handling practices that preserve the good quality of milkfish, 3) value addition by transforming milkfish into deboned and other processed products, and (4) product labeling to communicate Iloilo origin or product traceability to consumers

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 2017
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DOI: 10.22004/ag.econ.309409

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