Price Analysis of some Economically Important Marine Species in Thailand

Abstract

In this study, statistical analyses were made for whole- sale prices of five major economically important marine species, namely, Shrimp and Prawn, Squid and Cuttlefish, Indo-Pacific Mackerel, Little Tuna and Trash Fish. Owing to data limitation statistical analyses were concentrated only on domestic wholesale prices and wholesale prices of these marine species in the Bangkok Fish Market and seven provincial fish markets, i.e., Samut Sakhon, Hua Hin, Ranong, Surat Thani, Phuket, Songkhla and Pattani. Annual wholesale prices and monthly wholesale prices of these marine species recorded by the Fish Marketing Organization were the main data for the analyses Long-term trend analyses were made on annual wholesale prices of these marine species at both national and provincial levels. Seasonal price movements were analysed through both seasonal price indices and seasonal quantity indices calculated from monthly wholesale prices and monthly quantities of each of these marine species landed at the Bangkok Fish Market and seven provincial fishing ports from 1 January 1981 to 31 December 1985. Correlation coefficients were calculated to examine price relationships between markets of each marine species. Finally regression equations were constructed to trace major factors affecting both domestic and Bangkok wholesale prices of these marine species. The price trend analysis indicates that wholesale prices of marine species in this study show long-term rising trends, at both national and provincial levels, in spite of same fluctuations. Both long-term price trend and seasonal price movement analyses indicated that fluctuations in wholesale prices of exportable marine species such as shrimp and prawn, squid and cuttlefish, Little tuna and trash fish were not caused mainly by fluctuations in their landed quantities in the markets but by changes in overseas demand reflected by fluctuations in export prices of frozen shrimp and prawn, frozen squid and cuttlefish, canned tuna and fish meal. For domestically consumed marine fish such as Indo-Pacific mackerel, however, changes in landed quantity of marine fish in the market had a strong impact on wholesale price of that marine fish. Regression analyses also indicated that major affecting both domestic and Bangkok wholesale prices of shrimp and prawn, squid and cuttlefish, Little tuna and trash fish are export prices of their products and other demand-determining factors including number of consumers (population), per capita income and per capita fish consumption expenditure Hence, both domestic and Bangkok wholesale prices of these marine species still keep on rising in spite of increases in their landed quantities in the markets if export prices of their products and other demand-determining factors affecting both domestic and Bangkok wholesale prices of Indo-Pacific mackerel are both landed quantity of Indo-Pacific mackerel in the market and demand-determining factors including number of consumers (population), per capita income and per capita fish consumption expenditure. While landed quantity of Indo-Pacific mackerel has a negative impact on its wholesale price, other determining factors have positive impacts. Fluctuations in both domestic and Bangkok wholesale prices of Indo-Pacific mackerel, then, are caused jointly by quantity of Indo-Pacific mackerel landed in the market and other demand- determining factors.

This study also shows that provincial wholesale prices of these marine species are determined not only by local demand and supply conditions but also by external factors including export prices of their products, Bangkok wholesale prices and other provincial wholesale prices of these marine species.