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Market Integration and Demand for Prawns in Australia

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  • Peggy Schrobback
  • Sean Pascoe
  • Rui Zhang

Abstract

While prawns are produced domestically, most prawns currently consumed in Australia are imported from Asia. Local producers are concerned that these imports are depressing prices for their product, and future growth in imports due to increased global supplies would reduce their viability. We examined the price integration of prawn products within the Australian market using the autoregressive distributed lag (ARDL) bounds testing method. A Dynamic Inverse Almost Ideal Demand System (IAIDS) was employed to derive own- and cross-price flexibilities and scale flexibilities for the three prawn categories to determine whether the supply of one prawn product had an impact on the price of the other prawn products. The results suggest there is no price integration between domestically produced prawns (wild-caught and aquaculture) and imported prawns, but strong price integration exists between domestically produced prawns. The findings of the demand analysis confirm this result.

Suggested Citation

  • Peggy Schrobback & Sean Pascoe & Rui Zhang, 2019. "Market Integration and Demand for Prawns in Australia," Marine Resource Economics, University of Chicago Press, vol. 34(4), pages 311-329.
    • Handle: RePEc:ucp:mresec:doi:10.1086/706375
    DOI: 10.1086/706375
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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. Sean Pascoe & Peggy Schrobback & Eriko Hoshino & Robert Curtotti, 2023. "Impact of changes in imports and farmed salmon on wild-caught fish prices in Australia," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 50(2), pages 335-359.

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