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Establishing future contracts in the Norwegian fish trade

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https://ir.library.oregonstate.edu/concern/conference_proceedings_or_journals/70795f16n

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  • The first-hand market for wild-caught fish in Norway is subject to much uncertainty for both buyers and sellers. Factors such as changing quotas, seasonal variations in availability of important species, and sudden changes in market conditions creates instability in volumes and prices both on the demand and supply side. For fishermen, processers and wholesalers, this makes production planning, business growth and market building challenging at best. One possible tool for reducing uncertainty in this market is the establishment of a commodity exchange that allows for trading future contracts on fish deliveries. Such a contract market would give fishermen more stability and predictability in future income, and processers would experience more stable margins on production. Further, a more stable first-hand market would enable wholesalers to reach new customers in segments where predictability of supply is a necessity. Through a literature study we identify a series of success-criteria for establishing a contract market in the first-hand trade of wild caught fish. Considering these criteria, we analyze chosen segments of the Norwegian first-hand market to check if these segments are suitable for the introduction of future contracts. At present, no such contract markets exist in the trade of wild-caught fish, neither in Norway or other parts of the world. Our study therefore gives new insight into a so far unexplored area of the first-hand trade of seafood.
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  • Seattle, Washington, USA
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