ECONOMIC IMPACTS OF DISASTER AND ECONOMIC EVENTS ON COMMERCIAL FISHING: 2020-PRESENT
- Dr. Posadas is developing three approaches to measuring the joint and individual impacts of man-made and natural disasters, global pandemics and recessions, the U.S.-China trade war, and recent increases in fuel prices on commercial landings and dockside values.
- Recent disasters included major hurricanes, the Bonnet Carre Spillway (BCS) openings in 2011 and 2019, and harmful algal blooms. The COVID-19 pandemic was declared a national emergency in the U.S. on Mar.13, 2020.
- The U.S. economy was in recession from Feb. to June 2020. The U.S.-China trade war started in July 2018 when the US imposed tariffs on $34 billion of Chinese goods. China reciprocated by imposing equivalent tariffs on U.S. exports. Fuel prices rose to more than $4 per gallon in early 2022.
- The first two approaches develop and estimate SEAFOOD LANDING ASSESSMENT MODELS (SLAM). The SLAM models assume that time, BCS openings, hurricanes, COVID-19, recession, the US trade war with China, unemployment rate, and fuel prices significantly influence landings.
- The first SLAM model estimates total losses from actual and predicted values. The second SLAM model estimates total losses from predicted and no-disaster values. The third economic model is the Mean-Difference model, which estimates total losses from current and previous years’ benchmark values.
- These models are also used to predict future values of commercial landings by major marine species.
- Informational video presentations are posted on the Marine Fisheries Economics Outreach YouTube Channel.
SOCIOECONOMIC PROFILES OF MISSISSIPPI COMMERCIAL SHRIMPERS - 2022-PRESENT:
- The state fisheries agency recently asked Dr. Posadas to assist in their current programming efforts. During a recent meeting with the Mississippi Department of Marine Resources (MS-DMR), the need to develop socio-economic profiles of Mississippi commercial shrimpers was discussed.
- These tools are crucial in determining the most desirable options to assist fishermen facing falling dockside prices and rising fuel prices and allocating federal disaster assistance.
- It was further discussed that the updated estimates of the economic contributions of the Mississippi seafood industry by major species are crucial information in managing the state marine fisheries sector.
- Previous works by Dr. Posadas on Mississippi marine fisheries are posted on the MSU-CREC website and are readily available for MS-DMR leadership and staff. http://www.coastal.msstate.edu/publications-mississippi-department-marine-resources.
ECONOMIC CONTRIBUTIONS OF MISSISSIPPI SEAFOOD INDUSTRY – 1990-2023: http://coastal.msstate.edu/economic-impact-seafood
- Dr. Posadas provided an estimate of the annual economic contribution of the state seafood industry by major species: shrimp, oysters, crabs, and fish.
- Mississippi marine regulatory agencies needed updated estimates of the economic contributions of the seafood industry to manage state marine resources effectively.
- State regulatory agencies expressed a more vital need for additional information on the economic contributions of the seafood industry by sector and species landed, processed, distributed, and consumed in Mississippi.
- At a recent Producer Advisory Council Meeting, the American Shrimp Processors Association requested updated estimates for the seafood industry by species.
