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A Demand System Analysis of the U.S. Trout Market

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  • Lee, Young-Jae
  • Kennedy, P. Lynn
  • Hilbun, Brian M.

Abstract

Faced with a dynamic change in U.S. trout imports, this study tried to identify how trout imports affect the domestic trout industry in the United States. In doing so, this study analyzed the quantity effect and exchange rate effect on domestic trout price using a modified LDI-AIDS model. According to the results of this study, we found five important facts related to trout imports during this sample period of time. First, a low farm price of domestic trout might be due to reasons other than trout imports because empirical results show that the net effects of imported trout products are complementary rather than substitutionary in effect. Second, domestic trout price decreases with an increase in total trout supply into domestic market. Third, imported frozen products are gross-substitutes for domestic product, while imported fresh products are gross-complements for domestic product. Fourth, for domestic trout, the intensity of substitutable interaction of imported products is as follows: frozen fillets > frozen whole trout > fresh whole trout > rainbow trout. Finally, depreciation of the U.S. Dollar relative to the Chilean Peso reduces the negative impact of Chilean imported trout on domestic trout price.

Suggested Citation

  • Lee, Young-Jae & Kennedy, P. Lynn & Hilbun, Brian M., 2010. "A Demand System Analysis of the U.S. Trout Market," 2010 Annual Meeting, February 6-9, 2010, Orlando, Florida 56414, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saea10:56414
    DOI: 10.22004/ag.econ.56414
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    References listed on IDEAS

    as
    1. Lee, Youngjae & Kennedy, P. Lynn, 2008. "An Examination of Inverse Demand Models: An Application to the U. S. Crawfish Industry," Agricultural and Resource Economics Review, Cambridge University Press, vol. 37(2), pages 243-256, October.
    2. Lee, Young-Jae & Kennedy, P. Lynn, 2008. "An Examination of Inverse Demand Models: An Application to the U.S. Crawfish Industry," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 37(2), pages 1-14.
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    Keywords

    International Relations/Trade;

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