The behavior of hake prices in Chile: is the world market leading?

Abstract

ABSTRACT. In this study we analyzed price determination throughout the Chilean hake market chain. To analyze the relationship between different prices participating in this chain, a VECM model was successfully estimated. One cointegration vector was identified. Tests for weak exogenous variables, causality, and significance of different variables were performed, and a parsimonious version of the model was selected. The results obtained in this paper outline a price determination process that, in the end, is governed by world market conditions. Moreover, the diverse links in the hake market chain seem to be well integrated, which implies that there is little room for domestic price determination. Keywords: hake, fish price determination, time series, market chain, cointegration, market integration, Chile. El comportamiento del precio de la merluza común en Chile:¿Es el mercado mundial el líder?RESUMEN. En este estudio se analiza la determinación de precios a través de la cadena de comercialización de merluza chilena. Para analizar la relación entre los diferentes precios que participan en esta cadena, se estimó con éxito un modelo VECM. Se identificó un vector de cointegración. Se realizaron pruebas para las variables exógenas débiles, causalidad, y significancia de diferentes variables, y se seleccionó una versión parsimoniosa del modelo. Los resultados obtenidos describen un proceso de determinación de precios que, al final, se rige por las condiciones del mercado mundial. Por otra parte, los diversos eslabones de la cadena de comercialización de merluza parecen estar bien integrados, lo que implica que hay poco espacio para la determinación de los precios internos. Palabras clave: merluza común, determinación de precios, series de tiempo, cadena de comercialización, cointegración, integración de mercado, Chile.

Anisakid nematodes prevalence in Chilean hake (Merluccius gayi gayi) commercialized in the city of Talca, Chile

“…These parasites have been found in several fish species, including the Chilean hake (Merluccius gayi gayi) (Jofré et al, __________________ Corresponding editor: Leonardo Abitia 2008). This fish species is well distributed along the Chilean coast and is one of the most highly consumed fish of the Chilean people (Quezada & Dresdner, 2014).…”

Social network mechanisms of price formation in an artisanal fishing community in Chile

“…The few studies on common hake have mainly focused on local, national, and international market integration (e.g., Quezada and Dresdner 2014). However, as we already mentioned, these studies do not explain the formation of ex-vessel prices in local fishing coves sufficiently (see Young et al 2020 for an exception).…”

The impact of collective use rights on share contracts: the case of the Extractive Artisanal Regime (RAE) in Chilean hake fisheries

“…To capture Chilean hake, industrial vessels use bottom trawling or dropline methods, while artisanal vessels are only allowed to use gillnet or dropline. Chilean hake is mainly used for human consumption, both domestic and foreign, in the form of frozen or fresh chilled products (Quezada and Dresdner, 2014).…”