Time-varying effects of crude oil price fluctuations on tuna fish prices

  • Pierre Failler Centre for Blue Governance, University of Portsmouth, Portsmouth PO1 3DE, UK; UNESCO Chair in Ocean Governance, 75007 Paris, France
  • Yuhang Zheng National Innovation Center for Digital Fishery, China Agricultural University, Beijing 100083, China
  • Yue Liu Aquatic Germplasm and Genetic Resources Center, School of Renewable Natural Resources, Louisiana State, University Agricultural Center, Baton Rouge, LA 70820, USA
  • Negar Akbari Centre for Blue Governance, University of Portsmouth, Portsmouth PO1 3DE, UK
  • Helga Josupeit Food and Agriculture Organization of the United Nations (FAO), Fisheries and Aquaculture, 00153 Rome, Italy
  • Andy Forse Centre for Blue Governance, University of Portsmouth, Portsmouth PO1 3DE, UK
  • Benjamin Drakeford Centre for Blue Governance, University of Portsmouth, Portsmouth PO1 3DE, UK
DOI: https://doi.org/10.62617/se.v2i3.103
Keywords: tuna; oil price; commodity; financial crisis; sustainability
Article ID: 103

Abstract

This research presents an investigation of the time-varying effects of crude oil on the price of three tuna species, namely skipjack, albacore, and yellow fin. The investigation analyses the impact coefficient of oil price fluctuation on tuna species over time with specific phases related to time points when crude oil prices fall, including December 2008 (due to the impact of the Financial Crisis), February 2016 (due to the impact of the US shale oil and gas revolution), and April 2020 (due to the impact of the global COVID-19). The analysis shows that the price of yellow fin and skipjack shows sensitivity to these phased oil price shocks but stays consistent after recovery. This research finds that the relationship between oil price and tuna price depends on specific phases of oil price fluctuations and that global crude oil price shocks could have immediate and short-term impacts on fish markets, especially during a period of financial crisis.

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Published
2024-08-09
How to Cite
Failler, P., Zheng, Y., Liu, Y., Akbari, N., Josupeit, H., Forse, A., & Drakeford, B. (2024). Time-varying effects of crude oil price fluctuations on tuna fish prices. Sustainable Economies, 2(3), 103. https://doi.org/10.62617/se.v2i3.103
Issue
Vol. 2 No. 3 (2024)
Section
Article

Copyright (c) 2024 Pierre Failler, Yuhang Zheng, Yue Liu, Negar Akbari, Helga Josupeit, Andy Forse, Benjamin Drakeford

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