The World Market for Dried Whole Cod: A 2011 Global Trade Perspective by ICONGroup


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									   The World Market for Dried
    Whole Cod: A 2011 Global
       Trade Perspective

                         Professor Philip M. Parker, Ph. D.
                      Chaired Professor of Management Science
                    INSEAD (Singapore & Fontainebleau, France)                                      ©2011 ICON Group Ltd.

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                                              ISBN 1-114-70474-1

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                                       About the Author
Dr. Philip M. Parker is the Eli Lilly Chaired Professor of Innovation, Business and Society at INSEAD where he has
taught courses on multivariate statistics and global competitive strategy since 1988. He has also taught courses at
MIT, Stanford University, Harvard University, UCLA, UCSD, and the Hong Kong University of Science and
Technology. He is the author of six books on the economic convergence of nations. These books introduce the notion
of “physioeconomics” which foresees a lack of global convergence in economic behaviors due to physiological and
physiographic forces. His latest book is "Physioeconomics: The Basis for Long-Run Economic Growth" (MIT Press
2000). He has also published numerous articles in academic journals, including The Rand Journal of Economics,
Marketing Science, the Journal of International Business Studies, Technological Forecasting and Social Change,
International Journal of Forecasting, the European Management Journal, the European Journal of Operational
Research, Journal of Marketing, International Journal of Research in Marketing, and Journal of Marketing
Research. He is also on the editorial boards of several academic journals.

Dr. Parker received his Ph.D. in Business Economics from the Wharton School of the University of Pennsylvania
and has Masters degrees in Finance and Banking (University of Aix-Marseille) and Managerial Economics
(Wharton). His undergraduate degrees are in mathematics, biology and economics (minor in aeronautical
engineering). He has consulted and/or taught courses in Africa, the Middle East, Asia, Latin America, North America
and Europe.

                                        About this Series
This series was created for international firms who rely on foreign export markets for a substantial portion of their
business or who might be threatened by foreign trade competition. The estimates given in this report were created
using a methodology developed by and under the direct supervision of Professor Philip M. Parker, the Eli Lilly
Chaired Professor of Innovation, Business and Society, at INSEAD. The methodology, relying on historical figures
of economic growth and trade flows, estimates the market shares of some 150 countries for over 500 industrial or
product categories. The figures should be seen as market estimates, as opposed to historical records, as these are
projected for the current year of trade.

Some of the methodologies and research approaches used in this report have benefited from the R&D Committee at
INSEAD, whose research support is gratefully acknowledged. Additional editorial assistance from Tiffany
LaRochelle, ICON Group International, Inc., is also acknowledged.                                                                   ©2011 ICON Group Ltd.

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                                                                                     Contents        v

Table of Contents
1     METHODOLOGY                                                                                7
    1.1     Our Approach                                                                         7
2     THE WORLD MARKET                                                                          11
    2.1      Exports                                                                            11
       2.1.1   The World Market: Dried Whole Cod Export Supplies in 2011                        11
    2.2      Imports                                                                            13
       2.2.1   The World Market: Imported Dried Whole Cod in 2011                               13
3     EXPORTS                                                                                   16
    3.1      Africa: Export Supplies of Dried Whole Cod                                         16
       3.1.1   Executive Summary                                                                16
       3.1.2   Senegal                                                                          16
    3.2      Asia: Export Supplies of Dried Whole Cod                                           16
       3.2.1   Executive Summary                                                                16
       3.2.2   China                                                                            18
       3.2.3   India                                                                            18
       3.2.4   Japan                                                                            19
       3.2.5   South Korea                                                                      19
    3.3      Europe: Export Supplies of Dried Whole Cod                                         19
       3.3.1   Executive Summary                                                                19
       3.3.2   Belgium                                                                          22
       3.3.3   Denmark                                                                          22
       3.3.4   France                                                                           23
       3.3.5   Germany                                                                          23
       3.3.6   Iceland                                                                          23
       3.3.7   Italy                                                                            24
       3.3.8   Luxembourg                                                                       24
       3.3.9   Norway                                                                           25
       3.3.10      Portugal                                                                     26
       3.3.11      Russia                                                                       26
       3.3.12      Spain                                                                        27
       3.3.13      Sweden                                                                       27
       3.3.14      the Netherlands                                                              27
    3.4      North America & the Caribbean: Export Supplies of Dried Whole Cod                  28
       3.4.1   Executive Summary                                                                28
       3.4.2   Canada                                                                           30
       3.4.3   the United States                                                                30
    3.5      Oceana: Export Supplies of Dried Whole Cod                                         30
       3.5.1   Executive Summary                                                                30
       3.5.2   New Zealand                                                                      31
4     IMPORTS                                                                                   32
    4.1      Africa: Dried Whole Cod Imports in 2011                                            32
       4.1.1   Executive Summary                                                                32
       4.1.2   Cape Verde                                                                       33
       4.1.3   South Africa                                                                     33
    4.2      Asia: Dried Whole Cod Imports in 2011                                              34
       4.2.1   Executive Summary                                                                34
       4.2.2   China                                                                            35
       4.2.3   Hong Kong                                                                        35                                                          ©2011 ICON Group Ltd.
                                                                                  Contents        vi

       4.2.4   Japan                                                                         36
       4.2.5   Singapore                                                                     36
       4.2.6   South Korea                                                                   36
    4.3      Europe: Dried Whole Cod Imports in 2011                                         36
       4.3.1   Executive Summary                                                             36
       4.3.2   Austria                                                                       39
       4.3.3   Belgium                                                                       39
       4.3.4   Bosnia and Herzegovina                                                        39
       4.3.5   Croatia                                                                       40
       4.3.6   Denmark                                                                       40
       4.3.7   France                                                                        41
       4.3.8   Germany                                                                       41
       4.3.9   Greece                                                                        42
       4.3.10     Italy                                                                      42
       4.3.11     Luxembourg                                                                 43
       4.3.12     Norway                                                                     43
       4.3.13     Russia                                                                     43
       4.3.14     Slovenia                                                                   44
       4.3.15     Sweden                                                                     44
       4.3.16     the Netherlands                                                            44
    4.4      Latin America: Dried Whole Cod Imports in 2011                                  44
       4.4.1   Executive Summary                                                             44
       4.4.2   Argentina                                                                     46
       4.4.3   Brazil                                                                        46
       4.4.4   Mexico                                                                        47
       4.4.5   Panama                                                                        47
       4.4.6   Uruguay                                                                       47
    4.5      North America & the Caribbean: Dried Whole Cod Imports in 2011                  48
       4.5.1   Executive Summary                                                             48
       4.5.2   Barbados                                                                      49
       4.5.3   Canada                                                                        50
       4.5.4   Dominica                                                                      50
       4.5.5   Jamaica                                                                       50
       4.5.6   St. Lucia                                                                     51
       4.5.7   the Bahamas                                                                   51
       4.5.8   the United States                                                             51
    4.6      Oceana: Dried Whole Cod Imports in 2011                                         52
       4.6.1   Executive Summary                                                             52
       4.6.2   Australia                                                                     53
5     DISCLAIMERS, WARRANTEES, AND USER AGREEMENT PROVISIONS                                 54
    5.1    Disclaimers & Safe Harbor                                                         54
    5.2    ICON Group Ltd. User Agreement Provisions                                         55                                                       ©2011 ICON Group Ltd.
                                                                        Dried Whole Cod         7

This report was created for strategic planners, international executives and import/export
managers who are concerned with the market for dried whole cod. With the globalization of this
market, managers can no longer be contented with a local view. Nor can managers be contented
with out-of-date statistics that appear several years after the fact. I have developed a
methodology, based on macroeconomic and trade models, to estimate the market for dried whole
cod for those countries serving the world market via exports or supplying from various countries
via imports. I do so for the current year based on a variety of key historical indicators and
econometric models.

On the demand side, exporters and strategic planners approaching the world market face a
number of questions. Which countries are supplying dried whole cod? What is the dollar value of
these imports? How much do the imports of dried whole cod vary from one country to another?
Do exporters serving the world market have similar market shares across the importing countries?
Which countries supply the most exports of dried whole cod? Which countries are buying their
exports? What is the value of these exports and which countries are the largest buyers?

In what follows, Chapter 2 begins by summarizing the regional markets for imported and
exported dried whole cod. The total level of imports and exports on a worldwide basis, and those
for each region, is based on a model which aggregates across over 150 key country markets and
projects these to the current year. From there, each country represents a percent of the world
market. This market is served from a number of competitive countries of origin. Based on both
demand- and supply-side dynamics, market shares by country of origin a
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