Aquaculture America 2024

February 18 - 21, 2024

San Antonio, Texas

RETAIL PRICE INDICES FOR MAJOR SEAFOOD SPECIES 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

 



 Using AC Nielsen retail scanner data, t his study provides an in-depth analysis of the price index for eight  major seafood species in the U.S. retail market, encompassing both  farm-raised  (catfish, trout, and crawfish) and  major  imported species (salmon, tilapia, shrimp, oyster, and swai). By setting September 2016 as the base period,  monthly price indices were calculated as a ratio of the current price to the base price, enabling an accurate reflection of market trends and price fluctuations over the past five years (Figure 1). Our findings reveal distinct trends across different species. Catfish experienced a significant upward price shift, primarily attributed to increased production costs and potential supply shortages. T rout demonstrated a steady yet gradual price increase, maintaining relative market stability. Among imported species, shrimp,  salmon,  and tilapia have shown relatively higher  price stability, underscoring their increased supply . However, swai presented an unusual price trajectory with alternating increases and decreases, highlighting its unique market position. The study also uncovers distinct seasonal patterns in the pricing of oysters  and crawfish, linked to their  high  natural  seasonal aspects of production, growth, and harvest cycles. These patterns underscore the influence of  supply and reliance on environmental factors on market prices. Farm-raised products  such as salmon, tilapia, and shrimp - dominant global products with  steady and continual supply , avoided high fluctuations in prices. However, the  sectors that relied on forage (crawfish) and open coastal waters  ( mollusks) showed high fluctuations and seasonality of prices. This shows the importance of control over production processes. Major domestic aquaculture products such as catfish and trout reflected more dynamic market responses, sensitive to supply chain variations and complex market structures. Insights on retail price trends facilitate a nuanced understanding of market dynamics, vital for aquaculture farmers, processors, and  other supply-chain members while providing clues for strategic market expansion.