SHRIMP EX-VESSEL PRICES LANDED FROM THE GULF OF MEXICO

Abstract

A 3SLS procedure is employed to analyze U.S. Gulf of Mexico shrimp ex-vessel prices by size class and import supplies using monthly time-series data for the period from 1981 to 1995. Results indicate that the U.S. Gulf of Mexico shrimp ex-vessel prices are inflexible. Own-price flexibilities range from –0.0663 to –0.1027. Primary substitutes for U.S. Gulf of Mexico shrimp are cross-size U.S. Gulf of Mexico shrimp and imported supplies from South America. Structural changes and seasonal variations are evident for U.S. Gulf of Mexico shrimp ex-vessel prices as well as import supplies.Resource /Energy Economics and Policy,