How does the European seafood industry stand after the revolution of salmon farming: An economic analysis of fish prices

The introduction of farmed salmon on the European fish markets has coincided with major organisational changes within the value chain. The present paper investigates the extent to which the value spread between the intermediaries has been modified thereafter not only for salmon but also for a few wild-caught species. The background of cointegration theory has been extended to refine the analysis of price transmission along the fish value chain. As a result, one could admit that the introduction of farmed salmon and globalisation of fishery markets has certainly benefited to the European consumers, but probably not to the extent of the most optimistic expectations because of market imperfections.