Market potential for Gulf of Mexico farm-raised finfish

Concerns that additional supplies of U.S. farm-raised fish may compete with domestic wild fish has contributed to resistance and litigation that has slowed aquaculture development in the U.S. We employ a contingent choice experiment to large seafood wholesalers and suppliers in the U.S. to investigate market potential of new farmed finfish species from the Gulf of Mexico. We estimate probabilities that wholesale buyers prefer a new farmed product over existing market products using a conditional logit model. The results indicate it is more probable that Gulf farmed fish will substitute for imports than for domestic wild-caught fish given U.S. wholesale buyers have a preference for domestic fish to imported fish, but no significant preference for wild-caught fish to farmed fish.