An Analysis of the US Shrimp Market: A Mixed Demand Approach

Maryam Tabarestani, Walter R. Keithly and Hassan Marzoughi-Ardakani

Marine Resource Economics, 2017, vol. 32, issue 4, 411 - 429

Abstract: This study examines the US demand for shrimp differentiated by source including eight import sources (China, Ecuador, India, Indonesia, Mexico, Thailand, Vietnam, and rest of world [ROW]) and three domestic sources (Gulf of Mexico landings by size category). Due to endogeneity of import quantities and exogeneity of Gulf of Mexico landings, by size category, a mixed Rotterdam demand model was used to estimate the eleven-equation demand system. Results associated with the import component of the model appear satisfactory, with negative own-price elasticities and positive cross-price elasticities (implying substitutability among import sources). Many of the cross-price elasticities, however, were small. A 1% change in all import prices was found to result in a 0.98% change in the Gulf of Mexico dockside price; an expected result given the large share of total US shrimp supply represented by imports.

Date: 2017
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