Do 'local' markets offer new opportunities to Australian seafood producers?
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Description
The Australian fishing industry is currently seeking ways to improve its economic viability in the face of external pressures such as competition from cheaper imports and loss of export markets in the wake of the coronavirus pandemic. The promotion of “local” seafood appears successful elsewhere and may offer opportunities for fishers to exploit a previously underutilized market. The aim of this study is to estimate the willingness to pay (WTP) for the attribute “local” against other key attributes of sustainability and freshness when purchasing fish. This study uses a choice experiment based on Australian wild caught Barramundi to determine the importance of these attributes to Queensland seafood consumers. The results of the mixed multinomial logit model indicate that freshness attracts the highest WTP, followed by sustainability and then origin. With respect to the origin attribute, consumers would be willing to pay more for fish identified as locally produced than fish identified more broadly (i.e., State or Australian label). However, this higher willingness to pay is limited to residents from regional coastal areas (i.e., where the produce is caught), with consumers from main metropolitan areas more indifferent to product origin. Nevertheless, the development of a “local” label may also act as a proxy indicator of freshness and sustainability, and provide benefits to both fishers and consumers.
Impact and interest:
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ID Code: | 238750 | ||||
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Item Type: | Contribution to Journal (Journal Article) | ||||
Refereed: | Yes | ||||
ORCID iD: |
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Measurements or Duration: | 8 pages | ||||
Keywords: | Local fish, Choice experiment, Mixed multinomial logit choice model, Sustainability, Price premiums | ||||
DOI: | 10.1016/j.fishres.2023.106691 | ||||
ISSN: | 0165-7836 | ||||
Pure ID: | 128015546 | ||||
Divisions: | Current > Research Centres > Centre for Behavioural Economics, Society & Technology Current > QUT Faculties and Divisions > Faculty of Business & Law Current > Schools > School of Economics & Finance |
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Copyright Owner: | 2023 The Author(s) | ||||
Copyright Statement: | This work is covered by copyright. Unless the document is being made available under a Creative Commons Licence, you must assume that re-use is limited to personal use and that permission from the copyright owner must be obtained for all other uses. If the document is available under a Creative Commons License (or other specified license) then refer to the Licence for details of permitted re-use. It is a condition of access that users recognise and abide by the legal requirements associated with these rights. If you believe that this work infringes copyright please provide details by email to qut.copyright@qut.edu.au | ||||
Deposited On: | 21 Mar 2023 23:54 | ||||
Last Modified: | 29 Jun 2024 07:51 |
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