Commodity Exchanges And Warehouse Receipts In Malawi Current Status And Their Implications For The Development Of Structured Markets
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Commodity Exchanges And Warehouse Receipts In Malawi Current Status And Their Implications For The Development Of Structured Markets
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Author : Baulch, Bob
language : en
Publisher: Intl Food Policy Res Inst
Release Date : 2018-11-08
Commodity Exchanges And Warehouse Receipts In Malawi Current Status And Their Implications For The Development Of Structured Markets written by Baulch, Bob and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-08 with Political Science categories.
This study examines the landscape in which Malawi’s two agricultural commodity exchanges (Comex) and warehouse receipts systems (WRS) operate and makes recommendations on how to improve their performance and benefits to key stakeholders. A mixed methods approach was adopted, involving semi-structured interviews with key market participants, compilation and analysis of secondary data from Malawi and other African Comex, and a review of existing literature. A review of international experience indicates that historically Comex often develop hand-in-hand with warehouse receipt systems (WRS), which help stimulate demand from off takers for standardized contracts while providing financing that increased volumes traded. In recent years, electronic trading platforms have given an impetus to the consolidation of existing Comex, and the development of regional networks of exchanges and warehousing arrangements. Nonetheless, a common reason why Comex fail is that they do no attract sufficient trading volumes to pay for their operating costs. This is often associated with default on contracts and fears of the market for commodities being cornered by a few larger traders. Of the 23 Comex in Africa, over half are still in their planning or inception stages and, with the notable exception of the agricultural futures and options traded on the Johannesburg Stock Exchange, most of the remaining Comex are thinly traded and receive financial support from government and/or donors.
Feasibility Of Nationwide Warehouse Receipt System An Assessment Of The Potential For A Nationwide Warehouse Receipt System And Recommendation For The Requisite Legal And Regulatory Framework
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Author : Narayanan, Sudha
language : en
Publisher: Intl Food Policy Res Inst
Release Date : 2024-07-22
Feasibility Of Nationwide Warehouse Receipt System An Assessment Of The Potential For A Nationwide Warehouse Receipt System And Recommendation For The Requisite Legal And Regulatory Framework written by Narayanan, Sudha and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-07-22 with Political Science categories.
Warehouse receipts systems (WRS) have been used to tackle multiple challenges faced by farmers. In the absence of adequate collateral and consequent credit constraints, a WRS enables the use of inventory as collateral for loans, thus removing a key constraint farmers face. With growing digital reach, electronic based Negotiable Warehouse Receipts (e-NWR) that can be swapped, exchanged and traded and can assist in deepening financial markets while maintaining the integrity of the system. While e-NWRS can potentially address farmer level constraints, they can also be viewed from a larger policy perspective as a system that aids government plans for food security and manage public procurement operations better and more nimbly; it can also play a key role for enhancing the efficiency and food quality and safety along value chains by enabling mid-stream players like traders and importers to manage these chains better. This report seeks to inform the policy process around e-NWRS by focusing on the potential of Ware house Receipt Financing, more broadly, in the agricultural development of Bangladesh. To do this we review global evidence as well as evidence closer to home, within South Asia, to understand the pre-conditions and prerequisites for a successful system.
Introduction To Development Engineering
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Author : Temina Madon
language : en
Publisher: Springer Nature
Release Date : 2022-09-08
Introduction To Development Engineering written by Temina Madon and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-09-08 with Technology & Engineering categories.
This open access textbook introduces the emerging field of Development Engineering and its constituent theories, methods, and applications. It is both a teaching text for students and a resource for researchers and practitioners engaged in the design and scaling of technologies for low-resource communities. The scope is broad, ranging from the development of mobile applications for low-literacy users to hardware and software solutions for providing electricity and water in remote settings. It is also highly interdisciplinary, drawing on methods and theory from the social sciences as well as engineering and the natural sciences. The opening section reviews the history of “technology-for-development” research, and presents a framework that formalizes this body of work and begins its transformation into an academic discipline. It identifies common challenges in development and explains the book’s iterative approach of “innovation, implementation, evaluation, adaptation.” Each of the next six thematic sections focuses on a different sector: energy and environment; market performance; education and labor; water, sanitation and health; digital governance; and connectivity. These thematic sections contain case studies from landmark research that directly integrates engineering innovation with technically rigorous methods from the social sciences. Each case study describes the design, evaluation, and/or scaling of a technology in the field and follows a single form, with common elements and discussion questions, to create continuity and pedagogical consistency. Together, they highlight successful solutions to development challenges, while also analyzing the rarely discussed failures. The book concludes by reiterating the core principles of development engineering illustrated in the case studies, highlighting common challenges that engineers and scientists will face in designing technology interventions that sustainably accelerate economic development. Development Engineering provides, for the first time, a coherent intellectual framework for attacking the challenges of poverty and global climate change through the design of better technologies. It offers the rigorous discipline needed to channel the energy of a new generation of scientists and engineers toward advancing social justice and improved living conditions in low-resource communities around the world.
Who Uses And Who Benefits From Warehouse Receipt Systems An Examination Of Contract Level Transactions On The Agricultural Commodity Exchange For Africa 2011 2018
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Author : Thunde, Jack
language : en
Publisher: Intl Food Policy Res Inst
Release Date : 2020-05-18
Who Uses And Who Benefits From Warehouse Receipt Systems An Examination Of Contract Level Transactions On The Agricultural Commodity Exchange For Africa 2011 2018 written by Thunde, Jack and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-18 with Political Science categories.
African Farmers Value Chains And Agricultural Development
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Author : Alan de Brauw
language : en
Publisher: Springer Nature
Release Date : 2021-11-02
African Farmers Value Chains And Agricultural Development written by Alan de Brauw and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-02 with Business & Economics categories.
This book provides a thorough introduction to and examination of agricultural value chains in Sub-Saharan Africa. First, the authors introduce the economic theory of agri-food value chains and value chain governance, focusing on domestic and regional trade in (and consumption of) food crops in a low-income country context. In addition to mainstream and heterodox thinking about value chain development, the book pays attention to political economy considerations. The book also reviews the empirical evidence on value chain development and performance in Africa. It adopts multiple lenses to examine agricultural value chains, zooming out from the micro level (e.g., relational contracting in a context of market imperfections) to the meso level (e.g., distributional implications of various value chain interventions, inclusion of specific social groups) and the macro level (underlying income, population and urbanization trends, volumes and prices, etc.).Furthermore, this book places value chain development in the context of a process the authors refer to as structural transformation 2.0, which refers to a process where production factors (labor, land and capital) move from low-productivity agriculture to high-productivity agriculture. Finally, throughout the book the authors interpret the evidence in light of three important debates: (i) how competitive are rural factor and product markets, and what does this imply for distribution and innovation? (ii) what role do foreign investment and factor proportions play in the development of agri-food value chains in Africa? (iii) what complementary government policies can help facilitate a process of agricultural value chain transformation, towards high-productive activities and enhancing the capacity of value chains to generate employment opportunities and food security for a growing population.
Market Information And Access To Structured Markets By Small Farmers And Traders Evidence From An Action Research Experiment In Central Malawi
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Author : Ochieng, Dennis O.
language : en
Publisher: Intl Food Policy Res Inst
Release Date : 2020-03-12
Market Information And Access To Structured Markets By Small Farmers And Traders Evidence From An Action Research Experiment In Central Malawi written by Ochieng, Dennis O. and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-12 with Political Science categories.
Small farmers and traders often lack the market information they need to earn the most from their crop sales. This paper analyzes the effects of an action research experiment in central Malawi, in which four groups of smallholder farmers were provided with maize and soybean price information from a local commodity exchange during the 2019 marketing season, while four other groups of smallholder farmers did not receive this information. Using data from a panel survey of 399 farmers and 78 traders conducted before and after the main marketing season and using kernel propensity score matching approach to account for possible differences between the treated and non-treated farmers, we estimate the effects of the intervention on a number of outcome indicators. A before versus after analysis was also employed to evaluate changes in traders’ marketing outcomes. We find positive but statistically insignificant effects on maize and soybean selling prices, sales through structured markets and levels of commercialization after the intervention. We also find a negative and statistically significant effect on the quantity of maize sold by farmers, suggesting paradoxically that providing farmers with price information reduced their sales volumes. The proportion of traders aware of structured markets and their share of sales through structured markets also increased significantly after the intervention. The quantity of maize sold by traders as well as the selling prices for maize and soy-bean also increased significantly, although this may be due to factors other than the intervention. The study concludes that provision of price information alone is not enough to facilitate small farmers’ and traders’ use of structured markets. Greater effort is needed to sensitize farmers and traders on the quality and quantity requirements as well as the operations of structured markets.
Market Information And Access To Structured Markets By Small Farmers And Traders Evidence From An Action Research Experiment In Central Malawi Synopsis
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Author : Ochieng, Dennis O.
language : un
Publisher: Intl Food Policy Res Inst
Release Date : 2020-03-03
Market Information And Access To Structured Markets By Small Farmers And Traders Evidence From An Action Research Experiment In Central Malawi Synopsis written by Ochieng, Dennis O. and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-03 with Political Science categories.
Structured markets are organized platforms where economic agents such as farmers, traders, processors and financial institutions enter transparent and legal trading and financial arrangements (East Africa Grain Council 2013). Structured markets are important for the stabilization of volumes and prices of agricultural commodities (Hernandez et al. 2017) and diversification of foreign exchange earnings (Edelman et al. 2014). If supported by export mandates, structured markets for cereals and legumes could also limit informal cross-border trade and increase agricultural exports (Government of Malawi 2016). They could potentially also provide better statistics on volumes traded to aid in the planning, production, and marketing of crops in Malawi (Baulch and Gondwe 2017).
Towards Markets Of Choice
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Author : Hans Nijhoff
language : en
Publisher:
Release Date : 2010
Towards Markets Of Choice written by Hans Nijhoff and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Economic Feasibility Of Hybridyzing Forward Contracts And Warehouse Receipt System In Malawi
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Author : Marvin Mbaso
language : en
Publisher:
Release Date : 2018
Economic Feasibility Of Hybridyzing Forward Contracts And Warehouse Receipt System In Malawi written by Marvin Mbaso and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Generally, commodity prices immediately after harvest tend to be low because of supply glut and rise over time away from harvest as supply shrinks and demand remains virtually unchanged. Unfortunately, because many Malawian farmers do not have effective storage, they do not have any commodity for sale when prices are high. To help improve the income Malawian farmers may generate from their activities, this thesis explored the feasibility of hybridizing the two forms of price risk management systems in Malawi to minimize their individual weaknesses and enhance their collective benefits. The two risk management systems are forward contracts and warehouse receipt systems. Forward contracts allow farmers and their buyers to agree on a future delivery date and commodity price. On the agreed date, the farmer delivers the commodity and receives the agreed price. It allows farmers to pass downward price risk to buyers and guarantees a fixed price. As private transactions, forward contracts are not regulated by the Government, and present opportunism and enforcement challenges. Warehouse Receipt System (WRS) enables farmers to deposit their crop in the care of a warehouse operator and sell the crop when and where they choose. Farmers, therefore, incur both upside and downside price movement but avoid some of the opportunism and enforcement challenges presented by forward contracts. The thesis explored the net benefits of developing a hybrid system that allow forward contracts with warehouse receipt enforcement mechanisms. Thus, farmers are guaranteed a minimum price at some future date and the deposited commodity is used as the security supporting the guaranteed minimum price. The buyer also deposits a performance bond as commitment to purchase the commodity. The costs associated with these transactions are real and could affect participation. The thesis provides a process for assessing these transaction costs and incorporating them into the effectiveness of forward contracts, warehouse receipt systems and the hybrid program. The mathematical model example has proved that the hybrid system guarantees a fixed margin to the farmer over and above the harvest price and WRS cost as opposed to fluctuating margins under WRS alone. The thesis has identified three factors that can lead to the successful implementation of this hybrid system in Malawi and they include: the availability of the warehouse receipt bill, reliable warehouse certification which is done by AHCX and ACE on third party warehouse operators; and the availability of performance guarantee assuring that the quantities and quality of goods match those specified by the warehouse receipt. The thesis has also identified two factors that could hinder a successful implementation of this hybrid program and they include: first, low scale of warehousing operations under WRS which could deny most farmers a chance to access and benefit from this hybrid sytem and the commodity exchanges may not benefit from the economies of scale provided by large volumes of commodities produced in rural areas. Second, the absence of a harmonized national grading standard which possess a challenge when engaging in international trade. Finally, the thesis has made three recommendations for the successful implementation of the hybrid program as follows: Taking the system close to the producers to mitigate potentially high transportation costs; educating and selling the system to the stakeholders to increase adoption rate; and push for the implementation of national standardized grading regulations.
The Role Of A Warehouse Receipt System
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Author : Almarie Nordier
language : en
Publisher:
Release Date : 2013
The Role Of A Warehouse Receipt System written by Almarie Nordier and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.