Floor Prices in the Cod Market: Market Implications Public Deposited

http://ir.library.oregonstate.edu/concern/conference_proceedings_or_journals/6d56zz30q

Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, held July 11-15, 2016 at Aberdeen Exhibition and Conference Center (AECC), Aberdeen, Scotland, UK.

Suggested Bibliographic Reference: Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 11-15, 2016. Compiled by Stefani J. Evers and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2016.

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  • Bargaining power has in many fisheries shifted considerably from fish processors to fishermen with modern communications, higher fleet mobility and increased scarcity of the resources. In Norway, fishermen were to a large degree exploited by processors up until the early 20th century. A strong collaborative effort from the fishermens' union culminated with the introduction of the "Act on Raw Fish" in 1933. Here, first hand sales of fish were to take place through fishermen-owned sales organizations and subject to a floor price, to a very large degree defined by the same organizations. Needless to say, this represented a major shift in bargaining power, and these major parts of the act are still in force today. This even though the processing firms show poor profitability and the fleet has far better economic results. A considerable, but varying, part of the total first hand sales are made at the floor price, indicating that it is effective. Aside from distributional aspects, the floor price can have unintended detrimental effects. With supply of fish being highly seasonal in Norwegian fisheries, a floor price could exacerbate the seasonality through not exposing fishermen to the true costs of high supply. It can also increase incentives for not reporting the correct quantities landed. The aim of this study is to employ econometric models to estimate the effect of the floor price regime and to obtain estimates of prices without such a regime in force.
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  • 0976343290

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