Risky Agricultural Markets
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Risky Agricultural Markets
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Author : Pasquale L Scandizzo
language : en
Publisher: CRC Press
Release Date : 2019-07-11
Risky Agricultural Markets written by Pasquale L Scandizzo and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-11 with Science categories.
This book shows how decisions made by individual farmers influence the efficiency of agricultural markets. Unless farmers properly take account of the correlation between prices and yields in forming their price forecasts, competitive markets will often be socially inefficient, leading to misallocation of resources. The authors demonstrate that a simple and practical price forecasting rule, based on expected per unit revenue, is generally adequate to ensure efficient market behavior.Time-series data from various countries are used to test the hypothesis that market supply is influenced by the correlation of price and yield as well as by lagged market prices . The importance of market inefficiencies in risky situations is shown to, depend on the variability of yields, the nature of farmers'price forecasting behavior, the degree of private risk aversion,and the elasticity of demand. The authors suggest and evaluate three basic policy approaches governments may take when confronted with very inefficient markets--establishing production quotas, improving market information services, and implementing price stabilization schemes. They conclude by discussing implications of the study for the specification of agricultural supply models and for the economic appraisal of risky investment projects.
Risky Agricultural Markets
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Author : Pasquale L Scandizzo
language : en
Publisher: CRC Press
Release Date : 2021-06-02
Risky Agricultural Markets written by Pasquale L Scandizzo and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-02 with categories.
This book shows how decisions made by individual farmers influence the efficiency of agricultural markets. Unless farmers properly take account of the correlation between prices and yields in forming their price forecasts, competitive markets will often be socially inefficient, leading to misallocation of resources. The authors demonstrate that a simple and practical price forecasting rule, based on expected per unit revenue, is generally adequate to ensure efficient market behavior.Time-series data from various countries are used to test the hypothesis that market supply is influenced by the correlation of price and yield as well as by lagged market prices . The importance of market inefficiencies in risky situations is shown to, depend on the variability of yields, the nature of farmers'price forecasting behavior, the degree of private risk aversion, and the elasticity of demand. The authors suggest and evaluate three basic policy approaches governments may take when confronted with very inefficient markets--establishing production quotas, improving market information services, and implementing price stabilization schemes. They conclude by discussing implications of the study for the specification of agricultural supply models and for the economic appraisal of risky investment projects
Risky Agricultural Markets
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Author : Pasquale L. Scandizzo
language : en
Publisher: CRC Press
Release Date : 2019-09-13
Risky Agricultural Markets written by Pasquale L. Scandizzo and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-13 with categories.
This book shows how decisions made by individual farmers influence the efficiency of agricultural markets. Unless farmers properly take account of the correlation between prices and yields in forming their price forecasts, competitive markets will often be socially inefficient, leading to misallocation of resources. The authors demonstrate that a simple and practical price forecasting rule, based on expected per unit revenue, is generally adequate to ensure efficient market behavior.Time-series data from various countries are used to test the hypothesis that market supply is influenced by the correlation of price and yield as well as by lagged market prices . The importance of market inefficiencies in risky situations is shown to, depend on the variability of yields, the nature of farmers'price forecasting behavior, the degree of private risk aversion, and the elasticity of demand. The authors suggest and evaluate three basic policy approaches governments may take when confronted with very inefficient markets--establishing production quotas, improving market information services, and implementing price stabilization schemes. They conclude by discussing implications of the study for the specification of agricultural supply models and for the economic appraisal of risky investment projects
Introduction To Risk Management
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Author : Alan E. Baquet
language : en
Publisher:
Release Date : 1997
Introduction To Risk Management written by Alan E. Baquet and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Agricultural insurance categories.
Agricultural Risk Transfer
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Author : Roman Marco Hohl
language : en
Publisher: John Wiley & Sons
Release Date : 2019-03-25
Agricultural Risk Transfer written by Roman Marco Hohl and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-25 with Business & Economics categories.
Gain a holistic view of agricultural (re)insurance and capital market risk transfer Increasing agricultural production and food security remain key challenges for mankind. In order to meet global food demand, the Food and Agriculture Organisation estimates that production has to increase by 50% by 2050 and requires large investments. Agricultural insurance and financial instruments have been an integral part to advancing productivity and are becoming more important in increasingly globalized and specialized agricultural supply chains in the wake of potentially more frequent and severe natural disasters in today’s key producing markets. Underwriting, pricing and transferring agricultural risks is complex and requires a solid understanding of the production system, exposure, perils and the most suitable products, which vastly differ among developed and developing markets. In the last decade, new insurance schemes in emerging agricultural markets have greatly contributed to the large growth of the industry from a premium volume of US$10.1 billion (2006) to US$30.7 billion (2017). This growth is bound to continue as insurance penetration and exposure increase and new schemes are being developed. Agricultural (re)insurance has become a cornerstone of sovereign disaster risk financing frameworks. Agricultural Risk Transfer introduces the main concepts of agricultural (re)insurance and capital market risk transfer that are discussed through industry case studies. It also discusses best industry practices for all main insurance products for crop, livestock, aquaculture and forestry risks including risk assessment, underwriting, pricing, modelling and loss adjustment. Describes agricultural production risks and risk management approaches Covers risk transfer of production and financial risks through insurance and financial instruments Introduces modelling concepts for the main perils and key data sources that support risk transfer through indemnity- and index-based products Describes risk pricing and underwriting approaches for crop, livestock, aquaculture and forestry exposure in developed and developing agricultural systems Become familiar with risk transfer concepts to reinsurance and capital markets Get to know the current market landscape and main risk transfer products for individual producers, agribusinesses and governments through theory and comprehensive industry case studies Through Agricultural Risk Transfer, you’ll gain a holistic view of agricultural (re)insurance and capital market solutions which will support better underwriting, more structured product development and improved risk transfer.
Managing Price Risk In Agricultural Commodity Markets
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Author : John Deere
language : en
Publisher:
Release Date : 1997-01-02
Managing Price Risk In Agricultural Commodity Markets written by John Deere and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-01-02 with Agriculture categories.
Managing Price Risk in Ag Commodity Markets is the definitive guide to risk management in today?s volatile agricultural markets. As we move toward the end of the decade and prepare for the 21st century, American farmers face a most uncertain marketplace. Unprecedented changes in farm policy and New World trade agreements are two of the more important reasons why change is assured. It will take a different set of management skills to be profitable in the new marketplace. If it was ever enough to be just an excellent producer, that time is past. The big challenge facing farmers now and in the future is to respond to and manage the risk associated with highly volatile prices. We can help you prepare for that challenge. This book will help farmers like you develop the ability to cope in an uncertain marketplace. It looks at marketing skills and savvy, and develops management strategies that can be used to ensure and protect profitability. Managing Price Risk in Ag Commodity Markets starts with a look at some of the major forces that are changing the marketplace. Then it demonstrates what price risk is and deals with why it is important to you, to the agribusiness firms from whom you buy inputs mean, and to the processors to whom you sell your commodities. Two broad considerations are kept to the ?how? and ?why? of the changing world marketplace. They are responsible for the increased price volatility and risk to American farmers. The first consideration is the 1996 Farm Bill, which changed farm policy in a dramatic way. The second goes back several years and deals with two very important trade agreements: the North American Free Trade Agreement (NAFTA) and the General Agreement of Tariffs and Trade (GATT). These two important trade accords expose the American farmer to any and all of the forces that can bring uncertainty to commodity supplies and price variability around the world. The marketplace has indeed changed!
Agricultural Supply Chains And The Challenge Of Price Risk
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Author : John Williams
language : en
Publisher: Routledge
Release Date : 2013-12-04
Agricultural Supply Chains And The Challenge Of Price Risk written by John Williams and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-04 with Business & Economics categories.
This book discusses the issues of integration within food and fibre supply chains and the challenges in managing price risk. The problems of integration and price risk are interwoven in agricultural supply chains with production and supply risk as well as hoarding. However, without supply chain integration through commercial trade markets there can be no forward market upon which forward transactions and the management of price risk can be based. Without a forward market that can reduce opportunistic behaviour, there is likely to be little security of supply, particularly under high production risk and price uncertainty. Whilst price risk management is possible under certain circumstances, there are many factors that can prevent the development of forward markets or cause them to collapse, thus undermining the ability to manage price risk within acceptable risk and return parameters. Market positions therefore need to be valued and often settled daily due to the risk of contract default. In addition, the issue of currency risk and its management applies to international market positions and transactional exposures. The book analyses a range of price risk management strategies from forward contracting through to futures and options hedging, and finally to over-the-counter products. Evaluation techniques are developed to aid decision-making. The author concludes that forward market development may be the exception rather than the norm, and that whilst favourable price risk management outcomes may be possible, they can sometimes be caused more by luck than through good management. It is shown how tactics are an important consideration in decision-making to minimize costs and losses.
Income Risk Management In Agriculture
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2000-12-11
Income Risk Management In Agriculture written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-12-11 with categories.
These OECD workshop proceedings examine the various risk strategies used by farm households, in particular those attracting renewed interest such as diversification of income sources, vertical co-ordination, hedging on futures markets, insurance coverage and public safety-nets.
Managing Risk In Agriculture A Holistic Approach
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2009-09-18
Managing Risk In Agriculture A Holistic Approach written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-09-18 with categories.
This book examines the current magnitude and characteristics of risk-related policies in agriculture and what is known about the quantitative size of agricultural risks. It also looks at the on-farm, off-farm, and market instruments available to manage risk.
Managing Market Risk
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Author : Canada. Agriculture and Agri-Food Canada
language : en
Publisher:
Release Date : 1998
Managing Market Risk written by Canada. Agriculture and Agri-Food Canada and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Agricultural products categories.