Title: Price transmission and integration between the Italian and Spanish seafood markets.

Authors: Abdallah Djella; Luca Mulazzani; Andrea Forgione; Giulio Malorgio; Luca Camanzi

Addresses: Department of Agricultural and Food Sciences, Alma Mater Studiorum – Università di Bologna, Viale G. Fanin, 50 – 40127, Bologna, Italy ' Department of Agricultural and Food Sciences, Alma Mater Studiorum – Università di Bologna, Viale G. Fanin, 50 – 40127, Bologna, Italy ' Council for Agricultural Research and Economics – Research Centre for Agricultural Policies and Bioeconomy, Via Ruggero Bardazzi, 19/21 – 50127, Florence, Italy ' Department of Agricultural and Food Sciences, Alma Mater Studiorum – Università di Bologna, Viale G. Fanin, 50 – 40127, Bologna, Italy ' Department of Agricultural and Food Sciences, Alma Mater Studiorum – Università di Bologna, Viale G. Fanin, 50 – 40127, Bologna, Italy

Abstract: The characteristics of seafood markets may be strongly affected by several aspects, firstly by the biological cycles and catch trends of every fish species and secondly by several institutional features. In this paper, we provide an evaluation of how differences in catch patterns, wholesale organisation, and trade needs may influence the transmission of prices along the supply chain, using Italian and Spanish markets as a case study. Five species (sardine, European anchovy, common cuttlefish, common octopus and clam) are analysed. Results support the assumption of market integration at international level in the case of small pelagics; for octopus, there is a transmission of price signals from the retail to the first sale level, while for cuttlefish first sale prices seem to be independent and driven by local catches. The case of clam is controversial, since the analysis has not found any correlation among prices at national and international level.

Keywords: price transmission; market integration; supply chain; VAR test; causality test.

DOI: 10.1504/IJBPSCM.2023.136596

International Journal of Business Performance and Supply Chain Modelling, 2023 Vol.14 No.4, pp.347 - 368

Received: 27 Jan 2022
Received in revised form: 23 Nov 2022
Accepted: 03 Jan 2023
Published online: 08 Feb 2024 *

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