Abstract: Work by the authors analyzed price competition for farmed sea bream from Greece, Turkey and Spain across the value chain. They found that sea bream from the three origins competed in an undifferentiated market, where price changes by one competitor were replicated by the others. The ex-farm prices of sea bream in Spain were partially affected by international competition, but retailers adjusted pricing according to farmers’ costs and also responded to consumer demand. All levels of the value chain adjusted prices to changes at the wholesale level.

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