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We studied the factors that determine supply, demand and elasticity ofconsumption of fish in the world, EU and Serbia. The annual fish supply in theworld is 145 million tons with a rate increase of 1.9%. World production per capitais 21.3 kg and the consumption is 17.2 kg. Production in the EU amounts to 12million tons of fish and participates in the world`s production with 8.3%.Consumption per capita has stagnated at 22 kg. Fish production in Serbia is 12.5thousand tons and records an increase rate of 20%. Production per capita is 1.7 kg,and the consumption is 5.7 kg. The income elasticity of consumption of fish in theEU is inelastic and is 0.423, and -0.311 in price. In Serbia, income elasticity of fishconsumption is 0.549, and -0.402 in price. The elasticity of fish consumptioncompared to the prices of pork and chicken meat is positive, low and shows thatthese meat are substitutes. Regression parameters show that an increase in incomecauses a greater demand for fish, and increase in prices of fish has influenceddecreased demand.

Keywords: supply ; demand ; income and price elasticity ; consumption andproduction per capita ; regression

Subject(s): Demand and Price Analysis

International Relations/Trade

Production Economics

Issue Date: 2011

Publication Type: Journal Article

PURL Identifier: Published in: Economics of Agriculture, Volume 58, Number 4 Page range: 595-608

Record appears in: Institute of Agricultural Economics, Belgrade - Serbia > Economics of Agriculture

Economics of Agriculture

Economics of Agriculture

Autor: Babovic, Jovan ; Ignjatijevic, Svetlana ; Dordevic, Dragomir


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