Study on the Function of Our Country Commodity Futures Markets in Modern Agricultural Development
|Keywords||Agricultural futures markets Agricultural modernization Price discovery Hedging|
2006 government work report should be made to \Dalian Commodity Exchange to carry out agricultural futures-based play to the market in recent years, to the great support of the \In order to China's agricultural futures market really achieve promote to promote the development of modern agriculture, we must have a comprehensive understanding of China's agricultural futures market. In this paper, the analysis of the role and significance of China's agricultural futures market for the development of modern agriculture and the existence of difficulties and problems, pointed out that China's agricultural futures markets will play an important role in the construction of modern agriculture in China, and its role channels five stabilize the prices of agricultural products; avoid market risks; adjust planting structure and the development of efficient and high quality food; promote the reform of the grain circulation system; enhance the international competitiveness of agriculture to play a role. Play function above is based on a robust and efficient agricultural futures market on the basis of China's agricultural futures markets because of various reasons, to limit its function to play, there are two main reasons for the agricultural spot market imperfections and agricultural futures market imperfections. For agricultural futures market imperfections, mainly the following reasons: lack of varieties of agricultural futures trading; the hedgers body becomes vacant; futures market is too small; futures market is the lack of comprehensive laws and regulations; China's agricultural futures market risk ; futures market, lack of knowledge; poor conduction of agricultural futures markets. The same time as the the agricultural spot market and futures markets is interactive, the efficient agricultural futures markets based on the perfect the agricultural spot market basis, but our the agricultural spot market imperfections hinder the futures market functions play, while the spot market of agricultural products The basic question is: the contradiction between the farmers \Finally, through in-depth analysis of the functioning hinder agricultural futures markets on the basis of the measures to promote its functioning and policy recommendations. The first is to improve the agricultural futures markets in China, followed by the strengthening of the Main Body of China's agricultural futures market participation, especially those involved in the hedging leading enterprises and farmers cultivate.