Implicit prices of prawn and shrimp attributes in the Philippine domestic market

Nerissa D. SALAYO, Jan Piaw, Thomas VOON, Saroja SELVANATHAN

    Research output: Journal PublicationsJournal Article (refereed)

    7 Citations (Scopus)

    Abstract

    Improving quality is a major goal in the global seafood market due to increasing consciousness among buyers, who are becoming "quality consumers" rather than "quantity consumers." This paper uses the hedonic approach to determine the marketable characteristics of prawn and shrimp in a domestic market that prioritizes export of quality products to a more lucrative market. Using price and attribute data for prawn and shrimp purchased from the Philippine domestic market, we estimate a log-linear hedonic price model with combined continuous and dummy explanatory variables. The estimation results show significant implicit prices of attributes, such as: tail length, freshness, product form, species, color, size, ease of preparation, discoloration, protein, and carbohydrate content. Longer tails and banana species are highly valued. Peeling and breading to ease preparation obtain a high premium. Freezing, although commonly practiced, receives the highest discount among forms of preservation. As the characteristics of local consumers and the market in the Philippines are similar to other competing Asian exporters such as Indonesia, India, Malaysia, Thailand, and Vietnam, the results presented in this paper will be applicable to these exporting countries.
    Original languageEnglish
    Pages (from-to)65-78
    Number of pages14
    JournalMarine Resource Economics
    Volume14
    Issue number1
    DOIs
    Publication statusPublished - 1 Jan 1999

    Fingerprint

    domestic market
    Philippines
    market
    exporting country
    premium
    Vietnam
    Thailand
    Indonesia
    Malaysia
    consciousness
    India
    seafood
    freezing
    carbohydrate
    attribute
    price
    Implicit price
    Shrimp
    Domestic market
    protein

    Keywords

    • Attributes
    • Characteristics
    • Hedonic prices
    • Philippines
    • Prawn and shrimp
    • Quality
    • Seafood

    Cite this

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    Implicit prices of prawn and shrimp attributes in the Philippine domestic market. / SALAYO, Nerissa D.; VOON, Jan Piaw, Thomas; SELVANATHAN, Saroja.

    In: Marine Resource Economics, Vol. 14, No. 1, 01.01.1999, p. 65-78.

    Research output: Journal PublicationsJournal Article (refereed)

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    AU - VOON, Jan Piaw, Thomas

    AU - SELVANATHAN, Saroja

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    Y1 - 1999/1/1

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