Market Alternatives For Carp, Alewife And Sucker From The Michigan Great Lakes

"Market alternatives for Carp, Alewife and Sucker from the Michigan Great Lakes" is a study of the potential economic value of three species of fish existing in large supply in the great lakes. The study focuses on the feasability of potential uses of carp, sucker, and alewife as a food source and as a protein source for industrial meal, oil and solubles. The potential demand for these species as a marketable food fish was analyzed using the theory of consumer demand. Tuna, sardines, cod, perch, and salmon products were selected to study the affect of changes in price and income on demand. Conclusion from this analysis were used to specify an ordinary least squares equation of demand for canned and processed tuna, sardines, cod, perch, and salmon products at the retail level. The equations were then used to derive demand elasticities for those species and to measure the consumers sensitivity to changes in price. The conclusions were used to measure consumers willingness to accept substitute goods for premium ocean species. The analyses showed consumers' willingness to accept substitute ingredients for processed cod and perch. Consumers were generally unprepared to accept canned tuna, salmon, or sardine prototypes. While carp, sucker, and alewife might be accepted as substitute ingredients for processed cod or perch sticks, cases, or puffs, their use as substitutes for canned tune, salmon, or sardines appeared less assured. Under the conditions set forth, a manufacturer considering alternatives to higher priced species for processing could substitute the lower priced carp, sucker, or alewife with confidence in the products performance.