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Evaluation of seafood traceability system in Korea: demand-oriented analysis.
1Department of Agricultural and Resource Economics, University of Connecticut, Storrs, CT.
Italian Journal of Food Safety
|December 7, 2020
Summary
Korean consumers support seafood traceability systems for enhanced food safety. This system is projected to generate over $44 million annually, highlighting its value and need for promotion.
Area of Science:
- Food Science
- Consumer Behavior
- Agricultural Economics
Background:
- Growing consumer dissatisfaction with seafood safety in Korea necessitates improved food systems.
- Revitalization of the seafood traceability system is a key government initiative for food safety.
- Understanding consumer perspectives is crucial for the successful implementation of traceability systems.
Purpose of the Study:
- To examine consumer perspectives on the seafood traceability system in Korea.
- To evaluate the economic value of seafood traceability using the contingent valuation method.
- To identify factors influencing consumer preference and recognition of seafood traceability.
Main Methods:
- Contingent valuation method employed to assess consumer willingness to pay.
- Econometric modeling incorporating consumer preferences, recognition, and socio-demographic characteristics.
- Analysis of consumer attitudes towards seafood traceability and its perceived benefits.
Main Results:
- Respondents demonstrated a positive perception of the seafood traceability system.
- The seafood traceability system is estimated to generate approximately $44.94 million annually.
- Consumer recognition and preference are key drivers for the system's perceived value.
Conclusions:
- The seafood traceability system is viewed favorably by Korean consumers, contributing to food safety.
- Significant economic value can be derived from the system, underscoring its importance.
- Promotional efforts are essential to increase awareness and maximize the benefits of seafood traceability.
