Asian Fisheries Society

Estimation of EU's import demand for yellowfin tuna Thunnus albacares (Bonnaterre 1788) sourced from Asian countries: Implications to the Philippine tuna industry

Abstract:

Interest of consumers in the conservation of limited marine resources is influencing their purchasing behaviour towards fishery products. As a major tuna market, the European Union (EU) has promoted sustainable use of tuna resources with Asia emerging as one of its largest exporters. Using data from Eurostat, the study estimated an almost ideal demand system (AIDS) model for imported yellowfin tuna Thunnus albacares (Bonnaterre 1788) from China, Philippines, Taiwan, Thailand, South Korea and Indonesia. The findings suggest that the demand for yellowfin tuna from these Asian countries, especially from China, will increase as the EU's aggregate income increases. The cross-price elasticities imply that yellowfin tuna sourced from Asian countries are net substitutes relative to other yellowfin tuna producing countries that are exporting to the EU except the Philippines and China. Thus, yellowfin tuna imports from China will continue to dominate the yellowfin tuna trade between EU and Asia. The study also found that yellowfin tuna imported from the Philippines has the lowest expenditure elasticities and the estimated trend has been decreasing. As a consequence, the Philippine yellowfin tuna industry must pursue efforts to reduce the cost of compliance to EU standards and at the same time explore new markets

Publication Date : 2017-12-31

Volume : 30

Issue : 4

Page : 306-318

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Date 2017/12/31
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