Published in Aquaculture Economics & Management (Ahead of Print, 2023)

Abstract With the expansion of offshore renewable energy, countries across the world are researching the different ways to maximize the space between wind turbines by coupling multiple maritime activities within the same ocean space. This technique is referred to as co-location and can result in economic and environmental benefits. Using data from a choice experiment and random utility modeling, this

Abstract Forecasting salmon market volatility is crucial for reducing future uncertainty for market participants. This study explores the efficacy of the Long Short-term Memory (LSTM) network, a deep learning technique, in forecasting multi-step ahead salmon market volatility. The performance of the LSTM is assessed against a constructed volatility proxy and the Autoregressive Moving Average (ARMA)

Abstract Previous research has shown that Norwegian aquaculture did not report being much affected by COVID-19 but had a strong response to the pandemic regarding cost reductions, market development, and business network development. In this study, we take a step further and investigate if COVID-19 affectedness and responsiveness were consistent across the aquaculture industry’s value chain. Also,

Abstract Fish consumption in developing countries like Bangladesh is increasing with increasing aquaculture production; however, consumers are becoming more aware and concerned about food quality issues. This study investigates consumer preferences and willingness to pay for farmed fish quality attributes in Bangladesh using logit and hedonic price models, respectively. A total of 800 consumers were

Abstract In developing countries, food safety is an important predictor of consumer attitude when purchasing fish. This paper explores factors affecting the choice of retail markets and consumers’ Willingness to Pay (WTP) for safe fish in Bangladesh. Cross-sectional data were collected through a consumer survey (n = 420) in two major cities. Factor analysis, multinomial logit model, and log-linear

Abstract The recent growth and development of aquaculture industry in Bangladesh demand a thorough investigation of price volatility spillover pattern among capture fisheries and aquaculture products. Utilizing nationally representative monthly retail price data of the last seventeen years, we identify the evidence of volatility spillover effects among capture fisheries and aquaculture markets. We

Abstract There is a dearth of information on empirical studies on the impact of fish biodiversity on the welfare of farmers. Hence, it is important to investigate the role fish biodiversity, as a risk management measure, plays in the welfare status of aquaculture farmers in Ondo State, Nigeria. A multistage sampling procedure was employed in picking 192 respondents. Data were analyzed using the marginal

Abstract This paper applies cost-benefit analysis to assess social and private net benefits from rainbow trout and European whitefish aquaculture under recirculating aquaculture system (RAS) and marine net cage technologies. In addition to private investment and operational costs, we include eutrophication damage from nutrients and value the fish produced by its producer price. The assessment is made

Abstract The technical efficiency of the African catfish production in Nigeria was assessed. A total of 609 farms were sampled, and 1,118 operations were recorded covering both the pre-COVID and COVID periods. A translog stochastic frontier modeling approach was used to simultaneously assess the technical efficiencies and the determinants of technical inefficiency of the catfish farmers. The mean technical

Abstract The aquaculture industry has experienced substantial growth for many years. Moreover, high growth rates are projected to continue into the foreseeable future. Compared to other aquaculture species, salmon farming is one of the most capital-intensive seafood industries, requiring substantial investments in working capital, fixed assets, intangible assets (i.e., licenses), and innovation. Meanwhile

Abstract This study aimed to examine the characteristics of clusters and the factors that influence the profitability of rainbow trout (Oncorhynchus mykiss) farming in Abancay province (Apurimac, Peru). The area is located in the Andes mountains at an altitude of 2,378 meters. Information was collected through a questionnaire. The sample consisted of 100% of the aquaculture farmers registered in the

Abstract Aquaculture eco-certification is associated with some producer-level benefits including price premiums and market access; however, reputational benefits from eco-certification are unclear. A public survey was used to understand the effect of eco-certification on opinion of salmon farming in two Canadian provinces (British Columbia and Nova Scotia) and differences between communities where

Abstract The salmon farming industry has since its infancy witnessed immense growth due to innovations increasing productivity. A significant part of the innovations causing the productivity growth has by many observers been attributed to collaborative and open R&D-efforts. Salmon farming in Norway is very research intensive, with a large share of R&D being publicly financed, and with results widely

Published in Aquaculture Economics & Management (Vol. 27, No. 2, 2023)

Abstract Assessing the potential economic and financial feasibility of a new aquaculture operation requires, amongst other things, an estimate of the price the product is expected to receive once produced. For new species, such prices may not be apparent in the market. In this study, we develop a hedonic pricing model to estimate the expected price of a species being considered for aquaculture, but

Abstract The U.S. catfish industry has adopted several production practices which embody varying degrees of economic risk. Employing commercial farm data, this study quantified the economic risks associated with six catfish food fish production strategies. Stochastic Monte Carlo simulations employing established enterprise budgets found fish yield, feed price, and feed conversion ratio contributing

Published in Aquaculture Economics & Management (Vol. 27, No. 1, 2023)

Abstract The rapid globalization of seafood trade over the past few decades has triggered heightened vulnerability for fraud within the seafood supply network. Consumer perceptions of these vulnerabilities are not limited to imported seafood products, as spillover effects are likely to influence purchasing behavior for domestically produced seafood as well. Using a between-sample survey experiment

Abstract This study analyzed the market price dynamics of farmed fish using a price index in Turkey. A specific “Price Index” incorporating the leading aquaculture species produced by Turkish aquaculture, has been calculated for a five-year period spanning from 2016 to 2020. The empirical analysis is based on 60-month price and quantity data of chosen aquaculture species traded in a major wholesale

Abstract Today, the combined direct contribution of fishing and fish farming is about one-third of the Faroe Islands’ GDP. In the last three decades, aquaculture has become an important industry, and the Faroe Islands is now the fifth largest salmon producer in the world. In this article, we provide an analysis of the development of Faroese aquaculture from the early 1960s to the present. As in other

Abstract Aquaculture is the fastest-growing food production technology, having surpassed wild catch as a source of seafood. Yet, modern aquaculture is one of the riskiest businesses to enter as entrepreneurs, farmers or investors. As a result, it is critical to understand how aquaculture companies perceive risks, as well as their most relevant risk sources and management practices, as these are necessary

Abstract Bangladesh is due to graduate from Least Developed Country status, resulting in the loss of preferential market access for textiles and ready-made-garments in key import markets. The paper examines the opportunities and constraints for developing a stronger export market orientation in the Bangladesh fish and seafood sector. We discuss the role of public and private standards in food safety

Abstract Learning the extent of price volatility is critical to ensure the producer and consumer’s economic welfare. Hence, we have envisioned assessing the price transmission relationship over time among the farmgate, wholesale, and retail markets for the four major aquaculture products, namely Rui, Catla, Tilapia and Pangas in Bangladesh. The Granger causality test examined the causal relationships

Abstract The purpose of this work is to analyze the differences in profitability between European aquaculture firms of the Nordic and Mediterranean-EU regions, as well as the factors that are relevant to explain these differences. In addition to traditional factors proposed by theory to explain profitability differences among firms such as size, efficiency, or capital structure, we also include in

Published in Aquaculture Economics & Management (Vol. 27, No. 2, 2023)

Abstract Several socio-demographic factors influence fish consumption frequency and preferences in the Brazilian aquaculture market. Hence, the aims of this paper were (i) to acquire information on fish consumption frequency; (ii) to examine the associations between specific socio-demographic characteristics of aquaculture consumers; (iii) to investigate the consumption frequency of these specific

Abstract Farm-raised catfish is the largest U.S. aquaculture industry. Over the years, the ingenuity of catfish processors has made catfish products available all over the U.S. including globally competitive retail marketplaces. U.S catfish products face stiff competition from Vietnamese swai products in these diverse markets. This work elucidates the detailed nascent retail trends for U.S. catfish

Abstract Supply chain management of the fishing industry has become increasingly important as globalization has increased competition. It is complicated due to the involvement of heterogeneous stakeholders and the establishment of an unorganized market structure. This study gave a holistic insight into the gaps in existing literature for measuring supply chain performance emphasizing the need to value

Abstract This study investigates the effectiveness of sustainability labels, environmental attitudes, food safety concerns, and knowledge on Vietnamese consumer preferences for sustainably farmed shrimp. Mixed logit and latent class models were applied to estimate utility functions based on 459 samples collected using a choice experiment. The results indicate that Vietnamese consumers prefer sustainably

Abstract The growth of the salmon aquaculture industry has attracted an increasing number of investors. Investors are conscious of economic consequences of climate change for the salmon farming companies, hence their demand for climate-related financial disclosure has increased. This study discusses potential climate-related financial impacts imposed on the salmon aquaculture production as identified

Abstract In this paper, we discuss an upstream-downstream externality related to water quality (the level of ammonia) in a river by distinguishing between a non-cooperative and cooperative case. As empirical case, we use the Porong River, which is located in the East Java province of Indonesia. In this river, aquaculture farmers are located downstream while the industrial firms are placed upstream

Abstract This article presents the results of a market integration analysis in the European Union market of frozen fillets of subtropical farmed species based on imports of tilapia, pangasius and Nile perch. Market integration across countries and species has been tested using Johansen cointegration in order to deal with price series which have been found to be unit root and stationary in different

Abstract Intensive pond aquaculture production is increasing and playing a major role in global aquaculture production, especially in developing countries. Empirical evidence shows that the access to and exchange of fresh water in tilapia pond aquaculture is important for making pond production ecologically more sound, efficient and productive. This study investigates productivity and efficiency differences

Abstract Benchmarking programs for crop and livestock farms have been used by farmers to identify ways to improve farm efficiencies. This study developed a set of benchmarks for oyster, mussel, and seaweed farming in Maine (USA). Farm-level survey data were used to calculate benchmarking metrics for each farm respondent. Results showed the importance of disaggregating benchmarking metrics by production

Abstract This study investigates price relationships along the Norwegian salmon value chains in France, the EU’s leading consumption market for salmon, and Poland, the EU’s largest “processing hub.” Using a vector error correction model framework, our results indicate that the salmon price determination is a supplier-driven process, with the export prices in Norway influencing prices in France and

Published in Aquaculture Economics & Management (Vol. 26, No. 3, 2022)

Abstract This study uses a choice experiment to characterize market segments (consumer preferences heterogeneity) based on three attributes of seafood (mussels) that are affected by ocean acidification: shell appearance, meat color, and nutritional composition. Using a sample of 1,257 individuals from two main cities in Chile, we estimate both the Mixed Logit model and the Latent Class model. We use

Published in Aquaculture Economics & Management (Vol. 26, No. 3, 2022)

Abstract This study assesses the factors influencing of access to financial services (AFS) and its impact on fish farm economic performance by employing a multiple-stage random sampling approach to sample 131 fish farms from two regions in Ghana. We accounted for the selection bias issue using the endogenous treatment regression model. The results reveal that factors such asgender, education, fish

Abstract This study aims to explore the shrimp export competitiveness of Bangladesh, China, India, Indonesia, Thailand, and Vietnam time spanning from 1990 to 2019. However, emphasizing Bangladesh as a case country, this research looks into the factors influencing shrimp export competitiveness taking into account macroeconomic and policy variables. To do so, we used the recently developed Revealed

Abstract The impact that added competition of imported mussels from Chile might have had on market prices is one of the main reasons given to explain the decrease in the economic performance of the mussel aquaculture sector in the European Union (EU) in the last two decades. This hypothesis has not yet been tested. In this article we test empirically for price leadership and market integration in the

Abstract We analyze fish pricing in the São Paulo wholesale market, the second largest seafood market in South America. Quantitative price analysis is complemented by interviews with participants in the value chain to answer how the multitude of fish products supplied in this market are related and the challenges facing future growth. The results reveal a clear separate pricing of domestically produced

Abstract The U.S. catfish aquaculture industry is arguably one of the earliest aquaculture segments in the world to industrialize, and a pioneer in demonstrating the benefits of innovation-driven aquaculture supply chain development over wild-harvested fisheries. However, the industry substantially contracted through the 2003–2013 period. High and volatile feed prices, volatile farm prices, a rapid

Abstract Accurately measuring willingness-to-pay (WTP) for newly developed food products is critical for academicians and marketing managers. This study measures consumers’ preference and WTP for five newly developed convenient (ready-to-cook) catfish products by surveying 128 participants from Arkansas and Florida. An ordered probit model was applied to survey data to investigate factors influencing

Abstract Despite recent dramatic growth in seafood consumption worldwide, knowledge about seafood demand is limited relative to other protein sources. We model demand across three major protein categories (i.e., terrestrial meat, seafood, and plant-based protein) in South Korea to fill the research gap. This study models a quadratic almost ideal demand system (QUAIDS) by utilizing household panel data

Abstract As filter feeders, mollusks’ growth is completely reliant on the natural environment. This leaves clam aquaculture, and more generally molluskan aquaculture, highly susceptible to environmental risks such as harmful algal blooms (HABs) and low salinity events. As marine environments change, whether due to climatic or nutrient related variations, there may be new risk combinations that farmers

Abstract Bangladesh, like many developing countries, has taken various aquaculture product quality and safety control measures. However, it is little is known about Bangladeshi consumers' preferences, and in particular, whether they are willing to pay a price premium for safety improvements and what are the determinants of their WTP. This paper assesses consumers’ preferences and WTP for Hazard Analysis

Abstract We develop a theoretical trade model based on classical welfare economics and apply it empirically to both importers and exporters of shrimp, the most traded seafood, to determine the effects of the Covid-19 pandemic on shrimp produced and consumed in the U.S. and globally. We consider two time periods and compare these to the base period before the pandemic. Period 1 (March–June 2020): there

Abstract The U.S. catfish industry is evolving by adopting intensive farming practices such as intensively aerated ponds and split-pond systems. The functional relationship between fish yield and key production inputs in these intensive systems was analyzed based on commercial catfish production data from 143 pond observations (2010−2018). A Cobb-Douglas production function was employed for the intensively

Abstract We investigated the purchases of salmon sold under the Label Rouge quality label in France. A flexible infrequency of purchases model was estimated using French scanner data. The results show that consumers’ perceptions differ substantially between fresh salmon labeled as Label Rouge and other fresh salmon and confirm that Label Rouge results in product differentiation. Furthermore, consumers

Abstract Price volatility is an important factor in the fish value chain influencing the costs, trade, income, and food security. Therefore, analysis of fish price volatility dynamics can provide valuable insights into the impact of aquaculture growth in Bangladesh, a developing country where much of the animal source protein is obtained through fish consumption. In this article, we use both descriptive

Abstract This paper investigates the recovery period of consumer salmon purchase intention after food scares at the Xinfadi wholesale market in China during the COVID-19 pandemic and examines the impact mechanism of risk preference and risk perception on the period duration. Our empirical analysis is based on a survey of 655 salmon consumers in Beijing, Tianjin, and Shanghai. We estimate that the purchase

Abstract This study analyzed the determinants and potential impacts of the adoption of sustainable aquaculture (SA) technologies on the welfare of small-scale aquaculture (SSA) households in Myanmar using an endogenous switching regression model. Welfare is measured by fish productivity and fish income per cycle and Household Dietary Diversity Score. Our analysis revealed that distance to the sale-point

Abstract The catfish industry is the largest U.S. aquaculture sector and a major contributor to the rural economies of the Southern states of Alabama, Arkansas, and Mississippi. Economic contributions of this industry to the tristate region were estimated using an input-output modeling approach with the IMPLAN database and software (Impact Analysis for Planning MIG, Inc.). An analysis-by-parts approach

Abstract Intensive shrimp production is a potential pathway to increasing export quantity and meeting Vietnamese national export targets set for the 2020–2030 period. Vietnamese farmers need to efficiently manage their shrimp farming to compete in global markets. This study aims to investigate input- and output-specific technical and scale inefficiencies in Vietnamese shrimp farming practice and their

Abstract Aquaculture is the fastest growing food production sector in the world and is quickly diversifying. In the Northwest Atlantic, interest in sea scallop (Placopecten magellanicus) (hereafter scallop) aquaculture has grown substantially. However, technical and economic challenges have hindered industry growth. We conducted bioeconomic simulations for various sized farms that targeted either live

Abstract Consumption of aquatic products in China continues to grow and encourages the expansion of aquaculture farms. The examination of factors influencing expenditures on all aquatic products, freshwater fish, squid/octopus, and shellfish uses survey data collected from residents of Shanghai, China. The use of the Tobit modeling approach identified socio-demographic variables such as income, aquatic

Abstract The aim of this work is to evaluate how changes in a set of different key operational factors (e.g., the unit sales price, the fingerling unit cost, the feed unit cost, and so on) would impact on the economic performance of a typical grow-out farm producing European sea bass in the Mediterranean under different scenarios of production related to the farm size (production volume) and production

Abstract At present, aquaculture is still subject to social debate. This paper analyzes its social acceptance compared to traditional fishing, mainly by applying the structural equations methodology. This technique has been widely used in recent times in social sciences but is minor in this field. We propose a model in which we break down its acceptance in two dimensions: Product and company. We also