IIFET 2014 Australia Conference Proceedings
SMALL PELAGIC FISH MARKET IN THE SOUTH OF SICILY: LINKAGES
BETWEEN CATCH VOLUME AND MARKET PRICE
Patti, B., Pedroza-Gutierrez, C., Piazza, I., Mazzola, S.
Extended abstract
Along the southern Sicilian coast (Central Mediterranean Sea), Sciacca harbor is the most
important landing port for small pelagic fish species (manly anchovies and sardines) [1, 2].
This landing side accounts for about 2/3 of total catch in GFCM-FAO Geographical SubArea 16 (South of Sicily), where two operational units (OU) are presently active: purse
seiners and pelagic pair trawlers [3]. The GSA16 fleet is composed from 46 units (31 purse
seiners and 15 pelagic pair trawlers; Community Fishing Fleet Register,
http://ec.europa.eu/fisheries/fleet/index.cfm). In both OUs, anchovy represents the main
target species due to the higher market price.
Although small pelagic fishes are locally quite appreciated for direct fresh consumption,
landings are always totally absorbed by Sciacca transformation (canning) companies’ high
demand. Consequently, local consumption of fresh fish is relatively low, also because small
pelagic fish are considered “poor” when compared to the wide fish variety in Sciacca
market.
This study analyzes the links between anchovy landings by pelagic pair trawlers and their
market price from daily catch/price data collected in Sciacca harbor throughout the period
March 1999 - December 2013.
METHODOLOGY
Catch/price data used for the present study were collected on daily basis by on-deck
interviews. Average monthly values for both the time series were firstly evaluated to the
aims of the present study.
Inflation adjustment was firstly applied on the price time series (ISTAT, 2014,
http://www.istat.it/it/archivio/30440), as during the considered period the rise in the
inflation index was +38.4%. Linear regression analysis between landings and market price
was applied in order to investigate the relationship between the two series.
RESULTS
The time series show a seasonal signal more evident in landings series (most probably
linked to the ecology of the species, which spawns in coastal areas from March to
September, [1, 4]), and significant trends, increasing for landings and decreasing for prices.
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IIFET 2014 Australia Conference Proceedings
In Figure 1, a 12-month moving average is superimposed, in order to emphasize the general
evolution in the series and better investigate on changes in the relationship between prices
and landings over time. In particular, the moving average is able to remove seasonal signals
from both of the series. The two series appear to be generally anti-correlated, and an
apparent 6-7 year cycle in landings is also evidenced.
30
y = 0.0016x - 54.676
R² = 0.3567
25
20
MM12
15
monthly catch
Lineare (MM12)
10
5
set-13
set-12
mar-13
set-11
mar-12
set-10
mar-11
set-09
mar-10
set-08
mar-09
set-07
mar-08
set-06
mar-07
set-05
mar-06
set-04
mar-05
set-03
mar-04
set-02
mar-03
set-01
mar-02
set-00
mar-01
set-99
mar-00
mar-99
0
(a)
90
80
y = -0.0065x + 285
R² = 0.6931
70
60
50
Price
40
MM12
Lineare (MM12)
30
20
10
set-13
set-12
mar-13
set-11
mar-12
set-10
mar-11
set-09
mar-10
set-08
mar-09
set-07
mar-08
set-06
mar-07
mar-06
set-05
set-04
mar-05
set-03
mar-04
mar-03
set-02
mar-02
set-01
set-00
mar-01
set-99
mar-00
mar-99
0
(b)
Fig. 1: Average monthly prices (a; in euro, per 10 kg box) and landings (b; in tons)
series evolution
As both the landings and the market prices exhibit a significant trend, in order to investigate
on their relationship the two series were detrended before further analysis.
The relationship between detrended landings and prices evidenced the presence of elasticity
for prices, most marked during summer and autumn (Figure 2).
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IIFET 2014 Australia Conference Proceedings
Scatterplot (Spreadsheet0.sta 8v*178c)
Season: winter Detrended_Ave_Price = -1.0558-0.4459*x
Season: spring Detrended_Ave_Price = -1.8027-0.4413*x
Season: summer Detrended_Ave_Price = -1.6099-0.8959*x
Season: autumn Detrended_Ave_Price = 2.5994-0.8606*x
50
40
30
20
10
0
Detrended_Ave_Price
-10
-20
-30
-15
-10
-5
0
5
10
15
20
25
Season: winter
Season: spring
Season: summer
Season: autumn
Detrended_Ave_Catch
Fig. 2: Detrended average price vs. average catch
Figure 3 shows the relationship between the 12-month moving averages of the two time
series (prices in vertical axis and landings in horizontal axis). It is possible to note three
distinct “states” in the relationship.
Fig.3: Relationship between the 12-month moving averages of the two time series
The first state, in the lower left corner, characterizes the first and the last years of the time
series (1999-2001 and 2012-2013, respectively), when prices were relatively low. Most of
the points fall in the intermediate level, characterizing most years from 2002 to 2011, with
the only exception of years 2003-2004, when prices were relatively higher in relation to
landings.
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IIFET 2014 Australia Conference Proceedings
The first transition from the lower state to the intermediate state corresponds to the change
in currency from the Italian lira to Euro (year 2002). The sharp transition from the
intermediate state to the upper state appears to be a further attempt, extended just for a
couple of years (from mid 2003 to mid 2005) to increase profitability by increasing prices.
Finally, the last recent transition (in late 2011) from the intermediate to the lower state
corresponds to the start of the negative effects of the global crisis on the Italian economy.
CONCLUSIONS
Sciacca fisheries represent a good example to understand and interpret price elasticity
dynamics in relation to fish production and as a response to the economic situation and
trends.
The results of this study show, on one hand, the importance of fish production levels in
modulating market prices. Conversely, the potential relevance of the price lever in
modulating fish production demand is also evidenced. This effect may be used to manage
fish consumption, e.g. to the aim of fostering the substitutions from unhealthy to healthy
food such as blue fish. However, further research is necessary to find out more of the
market and social elements that can also have an impact on price elasticity
REFERENCES
[1] Mazzola, S., Patti, B., Bonanno, A., Cuttitta, A., Basilone, G., Calise, L., Buscaino, G.,
Goncharov, S., Cosimi, G., Palombo, V., Garcìa, A., Quintanilla, L.F., Cortes, D.,
Baro, J., Carpena, A., Serna, J.M., Garcìa Lafuente, J., Vargas, J. M., Criado, F.,
Sarhan, T., Plaza, F. 2002. The Sicilian Channel anchovy fishery and the underlying
oceanographic and biological processes conditioning their inter-annual fluctuations.
DG XIV, MED 98-070 Final Report, 2002.
[2] Patti, B., Bonanno, A., Basilone, G., Goncharov, S., Mazzola, S., Buscaino, G., Cuttitta,
A., García Lafuente, J., García, A., Palombo, V. and Cosimi, G. 2004. Interannual
fluctuations in acoustic biomass estimates and in landings of small pelagic fish
populations in relation to hydrology in the Strait of Sicily. Chemistry and Ecology,
20(5), 365-375.
[3] Patti, B., Venezia, S., Piazza, I., Basilone, G., Patti, C., Caruana, L. and Mazzola, S.
2007. Final Report of Project CAS.FO. ”Cattura e sforzo di piccoli pelagici nel
Canale di Sicilia per la gestione delle risorse pescabili”. In Italian. Regolamento
C.E.E. n. 1263/99 – SFOP – Misura n 4.17 – Sottomisura B.
[4] Basilone, G., Guisande, C., Patti, B., Mazzola, S., Cuttitta, A. Bonanno, A., Vergara,
A.R., Maneiro I. 2006. Effect of habitat conditions on reproduction of the European
anchovy (Engraulis encrasicolus) in the Strait of Sicily. Fisheries Oceanography 15:
271-280.
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