COVID-19 Impacts on United States Crawfish

Nguyen Ly (), Schmitz Andrew and Kennedy P. Lynn
Additional contact information
Nguyen Ly: Department of Agricultural Economics, Texas A&M University, McAllen, TX 78504, USA
Schmitz Andrew: University of Florida, Gainesville, FL, USA
Kennedy P. Lynn: Louisiana State University, Baton Rouge, LA, USA

Journal of Agricultural & Food Industrial Organization, 2023, vol. 21, issue 1, 21-34

Abstract: This research determines the impacts of COVID-19 US on crawfish production and consumption for 2020 and 2021 using an Equilibrium Displacement Model. In the US, crawfish is one of the seafood commodities where most production is consumed by domestic consumers (7% of domestic consumption is from imports). Crawfish and rice are complementary. Therefore, the impacts of COVID-19 on crawfish consumption simultaneously influence rice production and crawfish producers and consumers. In the first year of COVID-19 (2020), the reduction in crawfish retail demand caused negative effects on final consumers and producers. However, crawfish consumption recovered significantly in the second year (2021), which could compensate for the loss in 2020. Overall, consumer and producer gains ranged from $549 to $626 million if the COVID-19 pandemic only impacted retail consumption. However, in 2021, the increase in production costs due to higher oil/diesel prices and other input prices caused the farm supply to decrease. As a result, total welfare gains ranged from $200 to $228 million. If the demand in 2021 did not increase, but the crawfish farm supply decreased, consumer and producer losses ranged from $929 to $1045 million. Overall, the total effects of COVID-19 on consumers and producers for 2020 and 2021 depend on its effects in 2021. If the demand in 2021 increased following the decrease in farm supply, consumers and producers would benefit from the shocks of COVID-19 due to higher post-COVID-19 demand.

Keywords: crawfish; welfare; COVID-19; price; marketing margin (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1515/jafio-2022-0019 (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bpj:bjafio:v:21:y:2023:i:1:p:21-34:n:3

Ordering information: This journal article can be ordered from
https://www.degruyter.com/journal/key/jafio/html

DOI: 10.1515/jafio-2022-0019

Access Statistics for this article

Journal of Agricultural & Food Industrial Organization is currently edited by Azzeddine Azzam

More articles in Journal of Agricultural & Food Industrial Organization from De Gruyter
Bibliographic data for series maintained by Peter Golla ().