Are Prices or Biology Driving the Short-Term Supply of Farmed Salmon?

LEIF JARLE ASHEIM

doi:10.5950/0738-1360-26.4.343

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LEIF JARLE ASHEIM¹

¹Norwegian Agricultural Economics Research Institute (NILF)

Abstract

The short-term relationships between the supply of farmed salmon and its market and biological determinants are not fully understood. In this article an econometric model of salmon supply is estimated exploiting monthly data on Norwegian salmon aquaculture. Our estimates indicate that supply has shifted over time due to innovations in several areas. We find that the price of farmed salmon has a limited effect on supplied quantity, giving a highly inelastic short-run supply elasticity. The biomass and seasonal factors are the main determinants of shifts in salmon supply in the short term.

JEL Classification Codes: D22, Q11, Q22

Citation Download Citation

LEIF JARLE ASHEIM "Are Prices or Biology Driving the Short-Term Supply of Farmed Salmon?," Marine Resource Economics 26(4), 343-357, (1 December 2011). https://doi.org/10.5950/0738-1360-26.4.343

Published: 1 December 2011