Suchergebnisse

The recent global financial crisis exposed the serious limitations of existing economic and financial models. Not only did macro models fail to predict the crisis, they seemed incapable of explaining what was happening to the economy. Policymakers felt abandoned by the conventional tools of the now obsolete Washington consensus and the World Trade Organization's oversimplified faith in free markets. The traditional models for agricultural commodities have so far failed to take into account the uncertain character of the global agricultural economy and its ferocious consequences in food price vo.

The commodity market is one of the emerging markets in today"s economy. Given that inflation is increasing alarmingly and the emergence of risk in all activities, the commodity market has a phenomenal contribution to the overall economy of India. The following paper – Futures Trading in Agricultural Commodities: Effects of the ban on selected commodities in India shall focus on the impact of hedging (risk management) and price discovery, which are two major aspects under the agricultural commodity market. Secondary data from two main sources namely the Multi Commodity Exchange Market and National Commodity Derivatives Exchange were used for analysis. The ban on futures trading under agricultural commodities that was implemented by the Government of India shall be dealt with specifically taking seven commodities – Wheat, Rice, Sugar, Chickpea, Potato, Rubber and Guar Seeds. The common element between all these commodities is that they were all banned from futures trading at some point of time or the other. An analysis using econometric and statistical tools shall be performed to check whether there exists any sort of relationship between the ban and the prevailing inflation in the economy and also the correlation between the prices before and after ban. This is purely an explanatory study wherein the strategies for buyers and sellers in the futures market will also be discussed.

AbstractThe Chicago Board of Trade (CBOT) introduced side by side trading of its agricultural futures commodities in August 2006. We analyze and compare market quality conditions in corn, soybeans, and wheat futures when these contracts trade simultaneously on open outcry and electronic trading venues. We find that volume migrates from floor trading to electronic trading and transaction costs are higher for floor than for screen‐based trading. Nonetheless, we observe that both trading venues contribute significantly to price discovery. Given the recent surge in volatility in commodities futures markets, we also investigate activity variables such as volume that can help explain volatility in the two different trading platforms. We find that for agricultural commodities, variables that help describe volatility are not characteristic of the type of trading venue.

Czech economy went in last two decades through two important changes. The first of the changes was transition of central planned economy to market economy. Since this moment the Czech economy has been confronted with products from the entire world. The second important change was the EU entrance in 2004. Although in the period 2007–2013 one of the priorities of the European Commission was support of competitiveness, the new member countries did not have the same conditions for their economy – at this case agriculture – as the old members. The result of the uneven set conditions is enlargement of disparities in agricultural sector between old and new member countries. Nine years with lower volume of subsidies caused lower competitiveness of agriculture in most of new member countries, including the Czech Republic. That is one of the reasons why number of animals lowered very significantly and structure of plant production has changed according to subsidy schemes. Czech agriculture, mainly the animal production, is not able to product so many commodities as are needed, and is forced to import more products than in previous years. Aim of the article is to analyse by basic statistical and cartographic methods the change of export and import of the main agricultural products according to the SITC classes in last 10 years from the view of spatial distribution. Also some results of questionnaire survey with farmers in Czech regions will be introduced, mainly the opinions of farmers on barriers of development, problems with EU regulations and subsidies. These barriers are connected with foreign trade as well.

Rarely a month passes-by in Pakistan without complains on the
state of basic commodity markets, be it wheat or sugar, cotton or rice.
Prices are too high for the consumers, or too low for the farmers; and
often the government is asked to intervene, buying for or selling from
stocks, prohibiting export or import, increasing or reducing import
duties, introducing/withdrawing export taxes, or taking other measures
to protect the consumer or producer. It is as if domestic prices can
have a life on their own, with the government asked to guarantee "fair"
prices for everbody. The resulting on-and-off policy intervention by the
government is likely to have had a deleterious effect on the development
of the domestic and international trade for these commodities. This is
because of the uncertainty so generated, with the private traders always
facing the risk of a regime change at a time when import or export
contracts have already been signed. As a result too, the role of the
state-owned Trading Corporation of Pakistan self-perpetuates, even if
the government would like to see it minimised, as it is always being
asked to intervene because of the private sector's
"failings".