New directions for the Alaska king crab industry

The Alaska king crab industry historically has been one of the most lucrative fishing industries in the United States. Low 1991 exvessel prices stunned the industry. An econometric model of Alaska king crab price formation is developed in this article to provide insight into potential causes of pric...

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Bibliographic Details
Published in:Agribusiness (New York, N.Y.) N.Y.), 1994-03, Vol.10 (2), p.167-178
Main Authors: Greenberg, J.A, Matulich, S.C, Mittelhammer, R.C, Herrmann, M
Format: Article
Language:English
Subjects:
ALASKA
ALIMENTOS
CANGREJO DE MAR
Capital costs
COMMERCIALISATION
COMPETENCIA ECONOMICA
CONCURRENCE ECONOMIQUE
Consumption
CRABE
CRABS
DEMAND FUNCTIONS
ECONOMETRIC MODELS
Econometrics
ECONOMIC COMPETITION
Economic models
EQUATIONS
ESTADOS UNIDOS DE AMERICA
ETATS UNIS
Expenditures
exvessel prices
FISH INDUSTRY
Fisheries management
Fishery economics
Fishing
Fishing industry
FONCTION DE DEMANDE
FOODS
FORMACION DE PRECIOS
FORMATION DES PRIX
FUNCIONES DE LA DEMANDA
Harvest
INDUSTRIA DEL PESCADO
INDUSTRIE DU POISSON
International markets
International trade
Inventory
JAPAN
JAPON
Market shares
MARKETING
MATEMATICAS
MATHEMATICS
MATHEMATIQUE
MERCADEO
MODELE ECONOMETRIQUE
MODELOS ECONOMETRICOS
PRECIO AL POR MAYOR
PRECIO AL PRODUCTOR
PRICE FORMATION
Price variance
Prices
PRIX A LA PRODUCTION
PRIX DE GROS
processor prices
PRODUCER PRICES
product allocation
PRODUIT ALIMENTAIRE
RSFRS
RSFSR
RUSSIA
Seasons
USA
VENTA AL POR MAYOR
VENTE EN GROS
WHOLESALE MARKETING
WHOLESALE PRICES
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Summary:The Alaska king crab industry historically has been one of the most lucrative fishing industries in the United States. Low 1991 exvessel prices stunned the industry. An econometric model of Alaska king crab price formation is developed in this article to provide insight into potential causes of price movements. Wholesale price formation and allocation for the two largest markets, Japan and the United States, are explicitly modelled. Specific market conditions are shown to have resulted in an unusual market structure encompassing processors' price formation and product allocation. Recent events, including the deterioration of the US wholesale king crab market and economic liberalization in Russia, may have a profound impact on this industry. Model results are used in a discussion of potential ramifications of these events to industry participants.
ISSN:0742-4477
1520-6297
DOI:10.1002/1520-6297(199403/04)10:2<167::AID-AGR2720100206>3.0.CO;2-T