Market integration of cold and warmwater shrimp in Europe

Isaac Ankamah-Yeboah; Lisa Ståhl; Max Nielsen

doi:10.1086/693048

Market integration of cold and warmwater shrimp in Europe

Isaac Ankamah-Yeboah, Lisa Ståhl, Max Nielsen

Sektion for Miljø og Naturressourcer

21 Citationer (Scopus)

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.

Originalsprog	Engelsk
Tidsskrift	Marine Resource Economics
Vol/bind	32
Udgave nummer	4
Sider (fra-til)	371-390
Antal sider	20
ISSN	0738-1360
DOI	https://doi.org/10.1086/693048
Status	Udgivet - okt. 2017

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10.1086/693048

Citationsformater

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title = "Market integration of cold and warmwater shrimp in Europe",

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. JEL Codes: C32, F15, Q21, Q22.",

author = "Isaac Ankamah-Yeboah and Lisa St{\aa}hl and Max Nielsen",

year = "2017",

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doi = "10.1086/693048",

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T1 - Market integration of cold and warmwater shrimp in Europe

AU - Ankamah-Yeboah, Isaac

AU - Ståhl, Lisa

AU - Nielsen, Max

PY - 2017/10

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N2 - 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. JEL Codes: C32, F15, Q21, Q22.

AB - 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. JEL Codes: C32, F15, Q21, Q22.

U2 - 10.1086/693048

DO - 10.1086/693048

M3 - Journal article

SN - 0738-1360

VL - 32

SP - 371

EP - 390

JO - Marine Resource Economics

JF - Marine Resource Economics

IS - 4

ER -

Market integration of cold and warmwater shrimp in Europe

Abstract

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