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Price transmission and market integration: Vertical and horizontal price linkages for gilthead seabream (Sparus aurata) in the Spanish market

Abstract: This work presents the results of price integration analysis in the gilthead seabream market in Spain (Sparus aurata). The main objective of this work is to analyze market delimitation and price transmission from the primary sector to the retail stage. It also aims to test the influence of international trade on domestic prices for different intra and extra EU seabream trade flows. International competition depending of the country of origin was studied considering Spanish ex-farm prices and Spanish import prices from Greece and Turkey. Price interactions mechanisms were studied by applying price transmission analyses considering ex-farm, wholesale and retail Spanish prices. Empirical analyses were developed using monthly prices for the period 2009?2016. The analysis at the import/ex-farm levels allows concluding that the fresh seabream market is delimited and price competitive. Domestic farmed seabream is affected by import prices. The evolution of prices is correlated and the products behave as substitutes. International competition is led by Turkish exports. The rest of participants, Greek exporters and Spanish farmers, adjust their prices according to the changes in those of Turkey. The analysis of price behavior along the value chain shows asymmetry in the transmission of prices. Spanish farmers are not transferring their costs to the following steps in the value chain since the price at wholesale and retail levels are not affected by changes in the ex-farm price. In contrast, the prices of domestic farmers are affected by those of imports and domestic traders.

 Autoría: Fernández-Polanco J., Llorente I.,

 Fuente: Aquaculture, 2019, 506, 470-474

 Editorial: Elsevier

 Año de publicación: 2019

 Nº de páginas: 5

 Tipo de publicación: Artículo de Revista

 DOI: 10.1016/j.aquaculture.2019.03.052

 ISSN: 0044-8486

 Proyecto europeo: info:eu-repo/grantAgreement/EC/H2020/635188/EU/Strategic Use of Competitiveness towards Consolidating the Economic Sustainability of the european Seafood sector/SUCCESS/

 Url de la publicación: https://doi.org/10.1016/j.aquaculture.2019.03.052