Hedonic price for Catfish : an analysis for Pangasius price in Bangladesh

Abstract

In the present study, a hedonic model was used to estimate price increments or discount of catfish (Pangasius sp.) due to quality attributes in a domestic market named Natunbazar in Barishal district of Bangladesh. Using price and attribute data obtained by a questionnaire survey from the Barishal Natunbazar fish market, a linear hedonic price model was estimated which includes both continuous variable and dummy explanatory variables. The continuous variables were weight and standard length of Pangasius fish. Dummy variables represented the qualitative attributes which includes freshness in terms of gill color; origin of product; morning or evening; weekday or weekend; mode of sale and type of preservation. The estimated result shows a clear and significant price fluctuation due to the changes of different quality attributes of fish. Larger fish with bright gill color representing freshness were highly valued. Icing was more preferred among the other forms of preservation. Fish produced from local aquaculture practice and weekend day receives discount where fish sold in morning showed the price premium. The empirical finding of this study can explain some implications for those who not only involve with fisheries marketing and management including handling, transportation and preservation procedure but also involving in fish production by intensive or semi-intensive aquaculture practice. Thus, this hedonic approach explained in this study demonstrates the indicators of price fluctuation in fish market about what the fish farmers claimed on.