Global Ex-vessel Fish Price Database Revisited: A New Approach for Estimating ‘Missing’ Prices
The Global Ex-vessel Fish Price Database (Ex-vessel DB) reported in Sumaila et al. (J Bioecon 9(1):39–51, 2007) was the first comprehensive database that presents average annual ex-vessel prices for all commercially exploited marine fish stocks by nationality of the fishing fleet. It contained over 30,000 reported price items, covering the period from 1950 to the present, and supplemented missing prices with estimates based on prices from a different year, species group or fleet nationality. This paper describes a revised missing price estimation approach, focused on the computation of annual average international prices for each species group, adjusted to domestic prices using the real exchange rate based on national purchasing power parity. Key advantages of the new approach are that it allows a larger number of reported prices to be used in the price estimation, and accounts for relative price level differences that exist between countries. Our new approach should improve the estimates in regions where reported prices are scarce or non-existent by linking domestic prices to the trends in international prices. Our analysis, based on the revised ex-vessel price estimates (in real 2005 USD), shows that the global marine fisheries landings have generated total value of USD 4.2 trillion since 1950, including USD 100 billion in 2005.