The implications of climate change in Australian seafood markets Public Deposited

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  • Climate change is expected to impact the productivity of wild and farmed fisheries worldwide. These impacts will vary by region and consequently affect differently the supply to markets. Market driven interactions between fisheries from different regions and between different target species means that changes in supply from one region or species will have an impact on producers in other regions supplying the market. This is because, as supply to markets change, prices will re-adjust to the point where the quantity demanded by consumers and the quantity supplied by different producers is equal. For Australia, where edible seafood exports represented over 50% of the total value of production in 2008-09; changes to export prices will have significant economic implications. This is exacerbated by the fact that he value of Australian exports is particularly sensitive to price changes as it specializes in high-value, low tonnage species, such as, rock lobster, prawns and tuna. The current analysis, investigates the inter-relationship between Australian seafood products exports and other seafood products in international markets. A relationship (substitutability) between Australian and international seafood products will highlight that climate change will not impact Australian fisheries production in isolation. Instead, climate change will also impact Australian seafood through the prices they receive as a result of changes in world supply of competing products.
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  • Theaubaud, O., Pascoe, S. & Norman, A. The implications of climate change in Australian seafood markets. In: Visible Possibilities: The Economics of Sustainable Fisheries, Aquaculture and Seafood Trade: Proceedings of the Sixteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 16-20, Dar es Salaam, Tanzania. Edited by Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2012.
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