Journal
JOURNAL OF AGRICULTURAL AND APPLIED ECONOMICS
Volume 50, Issue 2, Pages 255-269Publisher
CAMBRIDGE UNIV PRESS
DOI: 10.1017/aae.2017.33
Keywords
Disease; market integration; salmon aquaculture
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Funding
- Norwegian Research Council [CT 254841/E40, CT 233689/E50]
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Several studies indicate an integrated global market for salmon. However, there is increasing evidence of market segmentation for various seafood species. A disease crisis in Chile that reduced production by two-thirds provides a strong market shock that can shed light on how strongly integrated the salmon market is. Our results indicate that Chilean producers changed the product mix and export markets as a result of the disease shock. Yet, the relative prices remained constant, indicating a high degree of market integration. Moreover, Chilean prices are endogenous to the Norwegian price, indicating that prices are determined at the global market.
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