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Market Integration of Cold and Warmwater Shrimp in Europe

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  • Isaac Ankamah-Yeboah
  • Lisa Ståhl
  • Max Nielsen

Abstract

This study examines market integration between the cold and warmwater shrimp value chain in the UK, Denmark, Italy, Sweden, and Norway using cointegration methods. For all countries, market integration exists between cold and warmwater unprocessed shrimp imports, where the law of one price (LOP) holds in three of the five cases. For processed shrimp, the LOP holds in three of four integrated cases, and for retail sales in the UK and Denmark, the LOP fails to hold in the presence of market integration. Unprocessed coldwater shrimp leads the market in northern Europe. Downstream, prices adjust within a few months, indicating that a shrimp is a shrimp. In the short-run, the coldwater value chain seems to be protected from competition, but provides opportunities for a shift in consumer demand towards warmwater in the long-run. This implies that coldwater shrimp prices are determined by demand and supply of warmwater shrimp, which is 15 times larger.

Suggested Citation

  • Isaac Ankamah-Yeboah & Lisa Ståhl & Max Nielsen, 2017. "Market Integration of Cold and Warmwater Shrimp in Europe," Marine Resource Economics, University of Chicago Press, vol. 32(4), pages 371-390.
    • Handle: RePEc:ucp:mresec:doi:10.1086/693048
    DOI: 10.1086/693048
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    Cited by:

    1. Peggy Schrobback & Eriko Hoshino & Sean Pascoe & Robert Curtotti, 2022. "Market integration of domestic and imported seafood: Insights from the Sydney Fish Market," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 66(1), pages 216-236, January.
    2. Hukom, Venticia & Nielsen, Rasmus & Asmild, Mette & Nielsen, Max, 2020. "Do Aquaculture Farmers Have an Incentive to Maintain Good Water Quality? The Case of Small-Scale Shrimp Farming in Indonesia," Ecological Economics, Elsevier, vol. 176(C).
    3. Bronnmann, Julia & Smith, Martin D. & Abbott, James & Hay, Clinton J. & Næsje, Tor F., 2020. "Integration of a local fish market in Namibia with the global seafood trade: Implications for fish traders and sustainability," World Development, Elsevier, vol. 135(C).
    4. Asche, Frank & Smith, Martin D., 2018. "Viewpoint: Induced Innovation in Fisheries and Aquaculture," Food Policy, Elsevier, vol. 76(C), pages 1-7.

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