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1.
Abstract

In this paper, a time-varying student-t copula is used to capture information on price volatility dependence in the short-, medium-, and long-run horizon in the US market for frozen and fresh salmon, trout, tilapia and catfish. Using monthly data from July 1992 to March 2017, the volatility dynamics for these aquaculture species are assessed. The analysis allows indicating significant differences in the volatility relationships, depending on time-frequency. While short-run volatility has limited dependency, there is significant dependency in both the medium- and long-run, indicating that market integration is stronger in the long-run. The information is particularly important to buyers and producers utilizing the futures markets, as contracts are typically traded using a set of frequencies, and may help them manage and reduce price risk.  相似文献   

2.
The producer price of catfish is becoming relatively unstable compared to the trend in previous years, necessitating the need for a complete analysis of catfish pricing and market dynamics. An understanding of the price determination mechanisms in the catfish market and the relationships between producer price, domestic processed price, and import price are important because price variability can result in significant financial losses to the domestic catfish industry. This study used a cointegration procedure to examine the long-run relationships between domestic prices of catfish and imported price. Results from unit root and cointegration tests suggest that there is a long-run equilibrium relationship between pairs of these prices. Results from Granger causality tests and error-correction model estimations suggest that the market for domestic frozen fillets plays a significant role in the price determination of imported catfish. A similar relationship is found between producer price and frozen fillet price. Some significant measures that were estimated include a frozen fillet-producer long-run price transmission elasticity of 0.162, a frozen fillet-imported fillet long-run price transmission elasticity of 3.56, and a producer-frozen fillet short-run price transmission elasticity of 0.322. High levels of fillet prices appear to have influenced the level of catfish imports. As long as distributors and restauranteurs do not see a basis for paying a premium for U.S. catfish products, they will continue to purchase the lower-priced imported catfish and consequently imports will continue to increase.  相似文献   

3.
In 2003, the United States adopted anti-dumping tariffs for Vietnamese catfish products entering the country. This study examines how these tariffs have impacted the price relationship between domestically produced and imported catfish products. Cointegration tests confirm a long-run price relationship between domestic and imported catfish, which has persisted despite the anti-dumping tariffs. However, imports are composed of catfish from Vietnam and other countries, with only the former subjected to tariffs. Results from vector error correction models suggest that Vietnamese catfish prices do not significantly influence domestic prices. Conversely, the price of catfish from countries other than Vietnam continues to impact prices received by domestic catfish farmers and processors. The domestic catfish industry is still affected by lower-priced imports from countries other than Vietnam, although some of these may be transshipments that truly originate in Vietnam. This research methodology could be adapted to investigate trade and price interactions among other aquacultured species, which will become increasingly important as global aquaculture expands.  相似文献   

4.
Volatility in catfish pond bank and feed prices lead to profit uncertainty in the catfish industry. Analysis of the factors that affect those prices and development of a forecasting model would provide guidance to catfish farm managers. Error-correction models (ECM) based on cointegrating relationships among variables were specified following development of a single-equation ARIMAX model. Factors identified as those that influence catfish price were: lagged value of catfish, feed and substitute product prices, while those that influenced feed price were: lagged value of feed, corn and soybean prices. ECM estimates implied that fish price adjusts approximately 6% and feed price 22% to the long-run equilibrium in 1?month. The analysis showed that it takes less than 17?months and 5?months to correct for long-run disequilibrium for catfish and feed prices, respectively. The ARIMAX model demonstrated a better fit for both in-sample and out-of-sample forecasting for catfish price and had better out-of-sample predictive ability for feed prices.  相似文献   

5.
Economic competition between introduced and native aquaculture species is of interest for industry stakeholders since increased production can affect price formation if both aquaculture species are part of the same market or even substitutes. In this study, we focus on the Australian edible oyster industry, which is dominated by two major species—the native Sydney rock oyster (grown mainly in Queensland and New South Wales) and the non-native Pacific oyster (grown mainly in South Australia and Tasmania). We examine the integration of the Australian oyster market to determine if there exists a single or several markets. Short- and long-run own, cross-price and income flexibilities of demand are estimated for both species using an inverse demand system of equations. The results suggest that the markets for the two species are integrated. We found evidence that the development of the Pacific oyster industry has had an adverse impact on Sydney rock oyster prices. However, our results show that both species are not perfect substitutes. Demand for Sydney rock oysters is relatively inelastic in the long run, yet no long-run relationships can be identified for Pacific oysters, reflecting the developing nature of this sector.  相似文献   

6.
Abstract

The catfish industry is the most successful aquaculture business in the US. The development and growth of the catfish industry has resulted in complex fish farm businesses that require intensive management. Technological innovations have resulted in increased yields (land use efficiency). However, in more recent years, productivity gains have not kept pace with the rate of increase in input costs. Increasing intensification of catfish production over time has been accompanied by increased use of debt capital that results in higher levels of financial risk. While still a profitable activity, real profit margins have declined as financial risk has increased. New technologies will likely continue to increase productivity over time. Market‐oriented agribusiness approaches to catfish marketing are likely to become the norm. The challenge for the catfish industry is to coordinate adoption of new higher‐cost technologies with demand increasing market development to sustain farm price levels.  相似文献   

7.
Abstract. The relative merits of tilapiine fishes, especially Oreochromis niloticus (L.) and Clarias gariepinus Burchell, are compared with respect to their suitability for aquaculture in Africa. Reproductive, nutritional and production data are drawn where possible from work carried out under African conditions.
In view of the fact that African aquaculture is insignificant in terms of worldwide production and in terms of local fish consumption it is suggested that a broader view of species choice might be adopted in relation to aquaculture projects.
The African catfish, by virtue of its suitable reproductive strategy, its nutritional efficiency and its ability to breath atmospheric oxygen, clearly represents an excellent candidate for aquaculture in Africa.  相似文献   

8.
为研究絮团浓度对革胡子鲇零换水养殖效果的影响,在不额外添加有机碳源（只利用饲料中的碳）的革胡子鲇（）养殖系统中,设置了平均絮团质量浓度为561.18 mg/L和780.41 mg/L两个处理组,比较了两实验组的水质、菌群结构、鱼生长及氮利用效率。结果表明,两种浓度絮团条件下,总氨氮（total ammonia nitrogen,TAN）和亚硝酸氮（NO2--N）能分别维持1.84 mg/L和1.79 mg/L以下。两处理组间pH、溶解氧（dissolved oxygen,DO）、TAN、NO2--N、氮素利用效率及主要生长指标无显著差异（-N）浓度（822.0 mg/L）明显高于低浓度絮团组（623.33 mg/L）。高通量测序分析菌群结构结果表明,两组间门水平的菌群组成种类及优势度无显著性差异（<0.05）。两处理组中的革胡子鲇存活率分别达到（91.11±1.53）%和（94.44±2.08）%,饲料系数为（1.41±0.18）和（1.27±0.26）,特殊生长率为（2.13±0.04）%/d和（2.19±0.08）%/d,均无显著差异（>0.05）。两实验组饲料氮的利用率分别达到了72.17%和71.34%。综合以上结果认为,仅利用饲料中的碳既能维持革胡子鲇的零换水养殖且能取得较高的氮素利用效率,两种絮团浓度对革胡子鲇的生长无显著影响,高浓度絮团组中的硝化作用更明显。  相似文献   

9.
In many countries, aquaculture development has been driven by technical solutions to the culture of high unit value (HUV) species. As rising production has met with falling prices, diversification into other HUV species has occurred and renewed the 'speciescycle’process. However, if aquaculture is to make its forecast contribution to offset declining capture supplies, some redirection may be needed to determine the substitute species and the product profile sought by consumers, and hence, the areas for genuine opportunity for growth. To this end, this paper employs Multiple Correspondence Analysis (MCA) to analyse consumer acceptance of a cultured product. The MCA identifies patterns of association hidden by conventional techniques and may provide a methodology for identifying more relevant responses by the international aquaculture industry to the needs of the market. To illustrate the potential, the paper presents a case study of African catfish, Clarias gariepinus (Burchell 1822), using face-to-face consumer surveys incorporating samples of Clarias fillets in household meals. The MCA suggests that the Clarias product has attributes which are not uniquely orientated to any particular niche market, in contrast to most conventional HUV species. This may be advantageous, and for example, suggests that Clarias might be marketed as frozen blocks for further added value products and as a substitute for those demersal species which are less available internationally.  相似文献   

10.
Previous studies on the effects of stocking density on the behaviour of African catfish have shown that at low densities, especially directly after restocking of tanks, increased aggression might occur. This aggression may directly affect the welfare of the fish. In addition, the resulting skin damage may also lead to the release of chemical alarm cues from the skin of the fish, possibly acting as a secondary stressor in a farming situation. Moreover, in a recirculation aquaculture system, a build-up of chemical alarm cues might occur. The objective of this study was to examine the effects of a single chemical alarm cue administration on the behaviour and growth performance of group-housed African catfish. Furthermore, the effects of a single passage over a biofilter on the behavioural response of African catfish to chemical alarm cues were tested. Although African catfish responded to chemical alarm cues with a short-term 35% increase in the number of active fish, no long-term effects were observed on both behaviour and growth performance of the fish. Furthermore, the results indicated that a single passage over a biofilter did not strongly alter the response of African catfish to the alarm cue, indicated by a 25% increase in the number of active fish. In conclusion, the results of this study indicate that chemical alarm cues, at the concentration applied in this study, cannot be considered a stressor for African catfish, although the effects of higher cue concentrations need further study. In addition, further study into the effects of chemical alarm cues on other, non-predatory, farmed fish is recommended.  相似文献   

11.
Consumers have become increasingly concerned with the quality, safety and production features of food. Certain population segments will pay more for food products carrying a label identifying credence features that consumers cannot evaluate, even after consumption. Seventy-nine market research questionnaires were completed by consumers purchasing live shrimp at two harvest sales at a University of Florida pond aquaculture facility. A conjoint analysis experiment was included to quantify the utility value and relative importance of seven different shrimp product physical and credence features: species, size, refrigeration state, product form, purchase price, country of origin label, and production method label. Both credence features had positive impacts on shrimp product utility, with country of origin label conferring higher positive utility than any other shrimp feature. Utility associated with wild-harvested shrimp was slightly higher than the utility of farm-raised shrimp. These results provide justification of seafood industry support for mandatory country of origin labeling.  相似文献   

12.
Triploid African catfish (Clarias gariepinus) produced through cold shock 3 min post fertilization were compared to diploid offspring of the same parentage at 66 days of age. Triploid fish were significantly shorter (11%) and weighed less (18%) than diploids but showed no significant difference in mortality or cannibalism, which can be an important source of losses under aquaculture conditions. Erythrocytes of triploid fish were more oval shaped than the normal spherical shape of diploid erythrocytes, were significantly larger (38%) and had nuclei that were significantly larger (25%) than observed in diploid fish. Erythrocyte morphological characteristics show potential as an indicator for the detection of triploidy in African catfish.  相似文献   

13.
Cage‐pond integration system is a new model for enhancing productivity of pond aquaculture system. A field trial was conducted using African catfish (Clarias gariepinus) and Nile tilapia (Oreochromis niloticus) in cages and carps in earthen ponds. There were four treatments replicated five times: (1) carps in ponds without cage, (2) tilapia at 30 fish m?3 in cage and carps in open pond, (3) catfish at 100 fish m?3 in cage and carps in open pond, (4) tilapia and catfish at 30 and 100 fish m?3, respectively, in separate cages and carps in open pond. The carps were stocked at 1 fish m?2. The cage occupied about 3% of the pond area. The caged tilapia and catfish were fed and the control ponds were fertilized. Results showed that the combined extrapolated net yield was significantly higher (P < 0.05) in the catfish, tilapia and carps integration system (9.4 ± 1.6 t ha?1 year?1) than in the carp polyculture (3.3 ± 0.7 t ha?1 year?1). The net return from the tilapia and carps (6860 US$ ha?1 year?1) and catfish, tilapia and carps integration systems (6668 US$ ha?1 year?1) was significantly higher than in the carp polyculture (1709 US$ ha?1 year?1) (P < 0.05). This experiment demonstrated that the cage‐pond integration of African catfish and Nile tilapia with carps is the best technology to increase production; whereas integration of tilapia and carp for profitability.  相似文献   

14.
Global production of marine finfish has grown in total volume of production and the number of species farmed commercially, but there has been little production in the United States of marine finfish other than salmon and red drum. For most species considered to be ready for commercialization, there are few or no farms from which to evaluate the size of the market or to estimate revenues and costs necessary to assess economic feasibility. This present study takes a first step to fill this gap with an analysis of the existing supply of 20 marine finfish species identified as candidates for commercialization in the United States, as a proxy for effective demand (the volume of a product sold at the market equilibrium price). Secondary data from 1950 (where available) through 2019 were compiled on each species, including (1) global aquaculture production, (2) US aquaculture production, (3) US commercial landings, (4) US recreational landings, and (5) imports. Current effective market demand (measured as the sum of commercial landings, farmed production, and imports) was low, totaling 36.6 million kg across the 20 species, which is equivalent to less than 23% of the annual volume sold of US farmed catfish. Commercial landings for 17 of the 20 species exhibited declines, potentially offering opportunities for farmed product to capture market share by filling the increasing gaps in supply. The variability in commercial landings provides opportunities for farms to capitalize on their advantage in supplying product with a high degree of consistency of volume, size, delivery frequency, and quality. Several unknown factors suggest the need for follow-up studies on consumer preferences, degree of substitutability among finfish species, and effects of recreational landings on demand. An important limitation to prospective producers is the lack of species-specific import data for the generic categories of “flounder,” “bass,” and “snapper.” This supply analysis provides a foundational analysis for prospective producers, investors, and researchers interested in commercialization of these marine species.  相似文献   

15.
Although Vietnamese catfish farming has grown at a rapid rate in recent years, the industry has also faced many problems that affect its sustainability. This paper explores the perceptions of catfish farmers regarding risk and risk management strategies in their production activities. The relationships between farm and farmer socioeconomic characteristics and perceptions of risk and risk management are also examined. Data for the study were collected in 2008 from a sample of 261 catfish farmers in the Mekong Delta, Vietnam using a questionnaire survey. The results show that, in general, price and production risks were perceived as the most significant risks. Farm management and technical measures were perceived to be more effective than other kinds of risk management strategies in risk reduction. Although price risks were rated as important, price risk management strategies were not perceived as important measures for risk mitigation. The results of the study are discussed to identify the implications for various industry stakeholders, including policymakers, processors, advisors, and developers of new risk management strategies.  相似文献   

16.
Split ponds are recently developed pond‐based aquaculture systems that allow intensification of catfish aquaculture. Successful industry‐wide adoption of newly developing technologies like split‐pond systems will depend upon their productivity and cost efficiencies. Costs and production performance of the following three split‐pond design scenarios were monitored in Arkansas and Mississippi: (1) research design developed at the Thad Cochran National Warmwater Aquaculture Center, Stoneville, Mississippi; (2) waterwheel design tested on commercial catfish ponds; and (3) screw‐pump design tested on commercial catfish ponds. An economic engineering approach using standard enterprise budget analysis was used to develop estimates of breakeven prices (BEPs) ($/kg) for producing foodsize hybrid catfish (♂Ictalurus furcatus × ♀Ictalurus punctatus) for each scenario. Estimates of BEPs of hybrid catfish raised in split ponds ranged from $1.72 to $2.05/kg. The cost of catfish production in split ponds was sensitive to yield, fish prices, and feed prices. Annual net cash flows from both commercial split‐pond systems were high and sufficient to make the investment profitable in the long run. Feed price, feed conversion ratio, and yield contributed the most to downside risk of split ponds.  相似文献   

17.
Understanding the major causes of growth variation is crucial for the success of fish farming since its reduction contributes to maximize production efficiency, reduce food waste and improve water quality. The growth variation observed in aquaculture has been associated with the establishment of social hierarchies. However, some studies suggest that this variation may not be mainly a consequence of social hierarchies but mainly a result of inherent (genetic) differences. This study investigates the magnitude of individual responses, independently of group effects (fish housed individually), in growth efficiency and feeding behaviour of African catfish Clarias gariepinus (Burchell 1822). Despite the low variation in initial body weight (6.5%) and cumulative feed consumption (7.5%) over the experimental period, catfish exhibited high variation in final body weight (18.1%), specific growth rate (17.2%) and feed conversion ratio (27.9%), suggesting that individual variation in growth efficiency is important in determining growth rate. This individual variation may be related with individual differences in protein/fat deposition since faster growing fish deposited more protein and less fat than slower growing fish. Pronounced individual differences in feeding behaviour (reaction towards feed and time spent eating) were also observed and correlated with individual differences in growth efficiency. Fast eaters were the fast growers. We suggest that the growth variation observed in African catfish may be inherent and that the use of grading to increase uniformity should be further investigated.  相似文献   

18.
Abstract. The African catfish, C. gariepinus (Burchell), a candidate species for aquaculture in southern Africa, is frequently infested by the branchiuran ectoparasite Dolops ranarum. Normal integument, as well as damage caused by this parasite, is described by means of scanning electron microscopy and histology. Wound healing and the attachment and feeding mechanism of the parasite is described.  相似文献   

19.
African catfish (Clarias gariepinus) and lemon fin barb hybrid (LFBH) (Hypsibarbus wetmorei ♂ × Barbodes gonionotus ♀) were cultured in either a biofloc technology (BFT) system or an individual recirculating aquaculture system (RAS) and their survival, growth, feeding efficiencies and biochemical composition were then compared after 8 weeks. LFBH and African catfish were chosen based on their different feeding habits. In the BFT treatments, glycerol was added to create a carbon to nitrogen ratio of 15, while the RAS system consisted of a fine mesh mechanical and biological filter. Each of the four treatments was triplicated, with each replicate consisting of 20 African catfish (0.98 ± 0.05 g) or LFBH (1.77 ± 0.02 g). Water quality and biofloc formation were examined weekly while the biofloc proximate composition was measured in weeks 5 and 8. During weeks 6, 7 and 8 the total viable bacterial colony forming units (CFU) were quantified. Regardless of species, biofloc formation was similar but the crude protein, lipid and ash significantly decreased from week 5 to week 8. However, biofloc crude protein and ash were significantly higher in the LFBH treatment. Total viable CFU were significantly higher (P < 0.05) in BFT compared to RAS, with LFBH having significantly more (P < 0.05) than African catfish. The proximate composition of the fish were unaffected by either system. Implementing BFT significantly (P < 0.05) improved both African catfish and LFBH growth, but this improvement was substantially higher for LFBH (41.6%) than for African catfish (7.6%). This may be due to a better ability of LFBH to consume smaller particles. Preliminary results also indicate that the nutritional composition of bioflocs could be influenced by biofloc age, which could have implications to solids management.  相似文献   

20.
Price volatility has an important impact on seafood markets and the aquaculture industry. This article investigates price volatility regimes along three dimensions; technology, species and product form. We identify regimes using the Iterated Cumulative Sum of Squares (ICSS), which allow us to compare the volatility found in aquaculture products, as well as comparing against fish-meal and soybeans. The results help identify the level of price risk found within the aquaculture industry across species and products. In addition, we differentiate between technologies comparing wild-caught fish with aquaculture products. The results also help us consider the relative riskiness of aquaculture compared to other industries. The results indicate that in aggregate, price volatility for aquacultured products is substantially lower than for wild. However, this varies substantially between species.  相似文献   

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