170 



To illustrate the commercial fishery value of the estuaries further, 

 shrimp prices (with head ojff) averaged $0.92 per pound in 1967. Of 

 the final retail average of $1.30 per pound, 5 cents per pound repre- 

 sented the wholesaler's markup with the remaining 33 cents being 

 received b^ the retailer. With the conversion factors provided by the 

 price data it can be estimated that the total retail value of the shrimp 

 landings attributable to the Apalachicola estuary is approximately 



Table IV.3.18 contains the projects of the annual fishery landings 

 values attributable to the estuary. Projects are made for the years 

 1975, 1980, and 2000. Because oysters and shrimp are highly income 

 elastic products, the value of their production should increase at a rate 

 at least equal to that of the national income. This of course assumes 

 no unusually extreme shifts in supply. A rate of 4 percent has been 

 compounded to the base years to approximate the future values of 

 oyster and shrimp landings. 



Finfish and, to a lesser extent, crabs have a much lower income 

 elasticity. Thus, a growth rate of only 2 percent has been used in ex- 

 tending their values forward to the years cited in the table. Again 

 supply variation and/or changes in processing methods can affect esti- 

 mates. For example, an increased use of fishery products as a source 

 of protein for underdeveloped countries would have an impact on the 

 demand side. 



This material reinforces the contention that simple values of fishery 

 landings are a totally inadequate measure of the "true value" of the 

 fishery resources involved. Only by studying both the values added in 

 production and the income generated by the income multiplier can a 

 realistic estimate be made. 



TABLE IV.3.18.— PROJECTIONS OF THE ANNUAL VALUE OF APALACHICOLA ESTUARINE RELATED LANDINGS J 



Species 1967 1975 1980 2000 



Oysters $5,098,860 $6,975,240 $8,489,602 $18,600,641 



Shrimp 471,260 644,633 784,648 1,719,156 



Crabs. 285,452 334,264 369,089 548,639 



FinHsh. 576,981 675,645 746,036 1,108,957 



All species 6,432,553 8,629,832 10,389,375 21,977,393 



1 Values are in terms of final retail values. 



Value of tourism and recreation 



A great deal of the economic value of clean water in Apalachicola 

 Bay derives from its attraction to tourists. Salt and fresh water fish- 

 ing, swimming, water skiing, surf boarding, boating, sunbathing, and 

 gathering oysters along the shore are among the water-related tourist 

 activities. Tourists from Alabama, Georgia, and north Florida are 

 usually interested in water-related activities while residents of the 

 South and other regions are more likely only to be passing through 

 Franklin County. In order to estimate the proportion of water-related 

 tourist stops on the mainland side of Apalachicola Bay, the economics 

 department of Florida State University asked owners of the three 

 largest motels in Apalachicola and Eastpoint to have all guests during 

 July 1968 fill out a questionnaire. A total of 173 "families" comprising 



