FARMED AND WILD-CAUGHT SHRIMP IN KENTUCKY AND SOUTH CAROLINA: CONSUMER PREFERENCE FOR HOMEGROWN BY HEROES, COMMUNITY SUPPORTED FISHERY, AND OTHER QUALITY ATTRIBUTES

• Main Author: Soley, Graham T.
• Format: Others
• Published: UKnowledge 2016
• Subjects: Choice Experiment; Willingness-To-Pay for Seafood; Homegrown By Heroes; Ecolabels; Agricultural and Resource Economics; Behavioral Economics
• Online Access: http://uknowledge.uky.edu/agecon_etds/39; http://uknowledge.uky.edu/cgi/viewcontent.cgi?article=1041&context=agecon_etds

As information regarding origin, production method, and environmental certifications characterize a progressing seafood market, scare analysis has been made to understand market responses. This study focuses on consumer preference for wild-caught and farm-raised shrimp with several attributes. These include the Homegrown By Heroes label and Best Aquaculture Practices certification, as well as other existing attributes including the Marine Stewardship Council and each state’s local label. Also considered are hypothetical labels including Community Supported Fishery (CSF) and National Oceanic & Atmospheric Administration (NOAA). This study surveys consumers in Kentucky and South Carolina while utilizing a choice experiment to elicit willingness-to-pay measures for these various product attributes. Both wild-caught and farm-raised shrimp are considered since these species have significant market potential. Like previous studies, a strong preference for fresh as well as local shrimp was found. Furthermore, preference for Homegrown By Heroes was found to be highly valued by consumers, as well as the NOAA label signifying a federally operated ecolabel. Consumers were also found to value BAP and MSC certifications, two third-party agencies currently existent in the seafood market. Marketing and policy recommendations are given based on consumer willingness to pay estimates for these various seafood attributes in both states.