Salmon trout, the forgotten cousin?

Abstract

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Salmon futures and the Fish Pool market in the context of the CAPM and a three-factor model

“…Their results strengthen the relevance of the futures market for hedging salmon transactions. It is further helpful in our context that recent results by Landazuri-Tveteraas et al (2021) and Salazar and Dresdner (2021) present strong evidence for market integration in the salmon market and the hypothesis that there is in fact a global market for salmon.…”

Innovation in the Norwegian aquaculture industry

“…This is particularly important for salmon since there is a number of issues with respect to its environmental sustainability that can at least partly be addressed by certification. 94 e Asche and Bjørndal 17 provide more detail about the growth of the industry, while Landazuri-Tveteraas 98 provide more information about the trout. The regulatory system for the two species is identical, and it is the same licence required to farm salmon or trout.…”

Impacts of Covid-19 on Norwegian salmon exports: A firm-level analysis

“…Better access to microdata has made it possible for researchers to suggest different approaches as to how total sales at the firm level can be attributed to different margins of trade. Some relevant examples for trade in general are Bernard et al (2007) , Lawless (2010) , Hornok and Koren (2015) , Asche et al (2021b) , and Landazuri-Tveteraas et al, 2021a , Landazuri-Tveteraas et al, 2021b . Specific to seafood, Straume et al (2020b) investigates if trade margins for aquaculture products differ from trade margins in wild seafood products beyond just total export value.…”

“…The fact that the price effects have different signs is notable, as a number of studies have reported that the salmon market is highly integrated ( Landazuri-Tveteraas et al, 2021a , Landazuri-Tveteraas et al, 2021b ; Salazar and Dresdner, 2021 ). However, Landazuri-Tveteras et al, (2018) show that the degree of price transmission varies significantly between product forms, and, as such, this result highlights the fact that the short-run dynamics vary by product form.…”

“…Numbers from the World Trade Organization ( WTO, 2022 ) indicate that global trade volume declined by 5% during 2020. The first string of literature on the trade implications of Covid-related measures suggests that lockdowns had a negative impact on global value chains ( Landazuri-Tveteraas et al, 2021a , Landazuri-Tveteraas et al, 2021b ), forced firms to shut down and reduced the workforce across different economic sectors ( Nicola et al, 2020 ), and decreased demand for and trade of several products ( Bartik et al, 2020 ; Hayakawa and Mukunoki, 2021 ; Espitia et al, 2021 ). The early literature focusing specifically on seafood markets reports similar findings, largely based on qualitative data and indicators (e.g., Link et al, 2020 ; White et al, 2021 ; Bassett et al, 2021 ; Coll et al, 2021; Gordon, 2021 ; Lebel et al, 2021 ).…”