Market Integration of Fish in Europe

Abstract

"This paper examines market integration between fish species in Europe, taking international market integration into account. Based on Juselius (2006), market integration is found both on the fresh and frozen markets. The Law of One Price is in force on the fresh market within the segments of flatfish and pelagic fish. Assuming transitivity, a loose form of market integration is identified between 13 fresh and seven frozen fish species, and the relative prices are found fairly stable. The policy implication is that catch limitation measures implemented through the Common Fisheries Policy have limited and conditional effects on prices, because of the large size of the market and varying market integration. Therefore, many fishermen are not 'compensated' by price increases as a result of catch limitation measures." Copyright (c) 2009 The Authors. Journal compilation (c) 2009 The Agricultural Economics Society.

Recent Trends in Salmon Price Volatility

“…Using Dickey Fuller critical values from the relevant null model (5% ¼ À3.43, 1% ¼ À4.01) we cannot reject a unit root in price levels. This is in accordance with what is commonly found in the literature (Asche et al, 2002;Tveterås & Asche, 2008;Nielsen et al, 2009).…”

Mixed fisheries management: Is the ban on discarding likely to promote more selective and fuel efficient fishing in the Dutch flatfish fishery?

“…We ignored price elasticity to keep our model relatively simple. This is a reasonable assumption since in general fish have low elasticity as it can be substituted by other fish products on the world market (Nielsen et al, 2009).…”

The price effect of expanding fish auction markets

“…Therefore, the expected outcome must be acceptable for both fishermen and processors. Overall, the present high degree of competition and integration for most fish markets (Asche et al, 2004;Nielsen et al, 2009;Jiménez-Toribio et al, 2010) would lead one to expect a low impact of interconnection on local prices. It is nonetheless hard to believe that distant intruders in the auction system, by disrupting the social game in force in most fish markets, will not create asymmetry, new risk perception and therefore new behaviours by local traders.…”