Aquaculture America 2024

February 18 - 21, 2024

San Antonio, Texas

EXPLORING ELASTICITY PATTERNS AMONG MAJOR FINFISH PRODUCTS IN THE U.S. RETAIL MARKET

Lianqun Sun* and Ganesh Kumar

Delta Research and Extension Center, Thad Cochran National Warmwater Aquaculture Center, Mississippi State University, Stoneville, Mississippi-38776 USA

 



 This study utilized th e  AC Nielsen retail scanner data to present  a comprehensive analysis of substitution patterns among various finfish products  in the U.S. retail market. A weekly scanner data spanning 260 weeks from Sep tember 2016  to  August 2021 was employed for this work. Previous studies have identified frozen and refrigerated fillets as the most common seafood products for  major species such as s almon, tilapia, catfish, swai, and trout. We employed  a non-linear Almost Ideal Demand System (AIDS) model  for  assessing  the elasticity of demand and identifying substitution and complementarity relationships between these five major seafood categories.  The detailed implications of these trends, revealing both complementarity and substitutability among the finfish categories, will be further explored in our presentation.  The  findings are critical for domestic aquaculture stakeholders as they help them position their products relative to other similar finfish products