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The Case and Cause of Salmon Price Volatility
Marine Resource Economics ( IF 2.9 ) Pub Date : 2019-01-01 , DOI: 10.1086/701195
Frank Asche , Bård Misund , Atle Oglend

Salmon price volatility has more than doubled over the last 10 years, and is now higher than many comparable commodities. This constitutes a challenge for the markets and consumers that salmon is targeting, and the continued growth of the industry. Reduced short-run elasticity of supply is the primary reason for the volatility trend. This is supported by the empirical evidence provided in this article. Three major developments in the salmon market supply-chain provide support for this hypothesis: (1) consolidation of the upstream supply chain into fewer and larger units, (2) a premium on fixed harvest schedules to satisfy retail demand for stability, and (3) restrictions on new production capacity in conjunction with strong demand promoting “race to raise” harvest policies. We argue for the importance of small, lean, and flexible production units to limit short-run price volatility. Price volatility rewards flexibility and provides entrepreneurial incentives for a subset of units.

中文翻译:

三文鱼价格波动的原因和原因

在过去的 10 年里,鲑鱼的价格波动增加了一倍多,现在高于许多可比商品。这对鲑鱼瞄准的市场和消费者以及该行业的持续增长构成了挑战。短期供应弹性降低是波动趋势的主要原因。这得到了本文提供的经验证据的支持。三文鱼市场供应链的三大发展为这一假设提供了支持:(1) 将上游供应链整合为更少和更大的单位,(2) 固定收获时间表的溢价,以满足零售稳定需求,以及 (3) ) 新产能的限制以及推动“竞相提高”收获政策的强劲需求。我们主张小型、精益、灵活的生产单位,以限制短期价格波动。价格波动奖励灵活性,并为部分单位提供创业激励。
更新日期:2019-01-01
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