Agricultural Commodity Exchanges in Latin America and the Caribbean

A commodity exchange is a goods and financial market where different groups of participants trade commodities and commodity-linked contracts, with the underlying objective of transferring exposure to commodity price risks (UNCTAD). A commodity exch...

Full description

Bibliographic Details
Main Authors:	Arias, Diego, Ferreira Lamas, Alfredo, Kpaka, Musa
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	AGRICULTURAL ACTIVITIES AGRICULTURAL COMMODITIES AGRICULTURAL COMMODITY AGRICULTURAL POLICIES AGRICULTURAL POLICY AGRICULTURAL PRODUCTION AGRICULTURE ARBITRATION AUCTIONS BANANAS BASIS RISK BEEF BENEFICIARIES BROKERAGE BROKERAGE FIRMS BROKERAGE HOUSES BROKERS BUSINESS ENVIRONMENT CAPITAL CONTROLS CAPITAL REQUIREMENTS CASH FLOW CASH MARKET CASH MARKETS CASH TRANSFER CEREALS CLEARING HOUSE COCOA COMMERCE COMMODITIES EXCHANGES COMMODITY BROKERAGE COMMODITY CONTRACTS COMMODITY EXCHANGE COMMODITY EXCHANGES COMMODITY FUTURES COMMODITY MARKETS COMMODITY OPTIONS COMMODITY PRICE COMMODITY SECTOR COMMODITY TRADE COMPETITIVENESS CORN COUNTRY TO COUNTRY CREDIT EXPOSURE CREDIT LINES CREDIT RISK DAIRY DERIVATIVE DEVELOPING COUNTRIES DOMESTIC MARKET DOMESTIC MARKETS EGGS ENABLING ENVIRONMENT ENVIRONMENTAL SUSTAINABILITY EXCHANGE MARKETS EXPORTERS FINANCIAL CRISIS FINANCIAL DERIVATIVE FINANCIAL EXCHANGES FINANCIAL EXPOSURE FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICES FOOD AID FOOD IMPORTS FOOD MARKETS FOOD POLICY FOOD PRICE FOOD PRICES FOOD PRODUCTION FOOD PRODUCTS FOOD RESERVES FOODS FOREIGN GOVERNMENTS FORWARD CONTRACT FORWARD CONTRACTS FORWARD MARKET FRUIT FRUITS FUND MANAGERS FUTURE PRICE FUTURE PRICES FUTURES FUTURES CONTRACT FUTURES CONTRACTS FUTURES EXCHANGE FUTURES EXCHANGES FUTURES MARKETS GOVERNMENT GUARANTEE GOVERNMENT POLICIES GOVERNMENT SUPPORT GRAINS HEDGING HOLDINGS INCOME INSTITUTIONAL INVESTORS INSURANCE INTERNATIONAL BANKS INTERNATIONAL INVESTORS INTERNATIONAL LAWS INTERNATIONAL MARKET INTERNATIONAL MARKETS INTERNATIONAL STANDARD INTERNATIONAL TRADE LEGAL FRAMEWORKS LENDING PORTFOLIOS LIBERALIZATION OF TRADE LIQUID MARKET LOCAL EXCHANGE MAIZE MARKET ACCESS MARKET FAILURES MARKET INSTRUMENTS MARKET INTERMEDIARIES MARKET LIQUIDITY MARKET MECHANISMS MARKET PARTICIPANTS MARKET PRICE MARKET SIZE MARKETING MATURITY MATURITY PERIOD MEAL MEATS MERCHANDISE MERCHANDISE TRADE MILLS MONEY MANAGERS NEW MARKET NEW MARKETS OATS OIL PRICES OPTION CONTRACTS ORANGE ORANGE JUICE PALM OIL PAYMENT SYSTEM PEANUTS PENSION PORK PORTFOLIO POTATO POTATOES PRICE CONTROLS PRICE DERIVATIVES PRICE FORMATION PRICE INCREASES PRICE INDICES PRICE MOVEMENTS PRICE RISK PRICE RISKS PRICE SUBSIDY PRICE SUPPORT PRICE VOLATILITY PRIVATIZATION PRODUCT QUALITY PUBLIC POLICIES PUBLIC POLICY PUBLIC-PRIVATE PARTNERSHIPS PURCHASING REAL ESTATE RED BEANS REGULATORY FRAMEWORK REPOS RESERVES RETURN RISK MANAGEMENT RURAL INFRASTRUCTURE SECURITIES SHAREHOLDERS SHORT-TERM FINANCE SOYBEAN SOYBEANS SPREAD STANDARD CONTRACTS STOCK EXCHANGE SUGAR SUGAR CANE SUPERMARKET SUPERMARKETS SUPPLIERS SUSTAINABLE DEVELOPMENT SWAPS TAX TAX BENEFITS TAX INCENTIVES TRADE FINANCING TRADE LIBERALIZATION TRADES TRADING TRADING SESSIONS TRANSACTION TRANSACTION COST TRANSACTION COSTS TRANSACTIONS COSTS TRANSPARENCY TRUST FUND VEAL VEGETABLES WAREHOUSE WAREHOUSE RECEIPTS WHEAT WHOLESALERS WINE
Online Access:	http://documents.worldbank.org/curated/en/2011/03/17394026/agricultural-commodity-exchanges-latin-america-caribbean http://hdl.handle.net/10986/18020

id	okr-10986-18020
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	AGRICULTURAL ACTIVITIES AGRICULTURAL COMMODITIES AGRICULTURAL COMMODITY AGRICULTURAL POLICIES AGRICULTURAL POLICY AGRICULTURAL PRODUCTION AGRICULTURE ARBITRATION AUCTIONS BANANAS BASIS RISK BEEF BENEFICIARIES BROKERAGE BROKERAGE FIRMS BROKERAGE HOUSES BROKERS BUSINESS ENVIRONMENT CAPITAL CONTROLS CAPITAL REQUIREMENTS CASH FLOW CASH MARKET CASH MARKETS CASH TRANSFER CEREALS CLEARING HOUSE COCOA COMMERCE COMMODITIES EXCHANGES COMMODITY BROKERAGE COMMODITY CONTRACTS COMMODITY EXCHANGE COMMODITY EXCHANGES COMMODITY FUTURES COMMODITY MARKETS COMMODITY OPTIONS COMMODITY PRICE COMMODITY SECTOR COMMODITY TRADE COMPETITIVENESS CORN COUNTRY TO COUNTRY CREDIT EXPOSURE CREDIT LINES CREDIT RISK DAIRY DERIVATIVE DEVELOPING COUNTRIES DOMESTIC MARKET DOMESTIC MARKETS EGGS ENABLING ENVIRONMENT ENVIRONMENTAL SUSTAINABILITY EXCHANGE MARKETS EXPORTERS FINANCIAL CRISIS FINANCIAL DERIVATIVE FINANCIAL EXCHANGES FINANCIAL EXPOSURE FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICES FOOD AID FOOD IMPORTS FOOD MARKETS FOOD POLICY FOOD PRICE FOOD PRICES FOOD PRODUCTION FOOD PRODUCTS FOOD RESERVES FOODS FOREIGN GOVERNMENTS FORWARD CONTRACT FORWARD CONTRACTS FORWARD MARKET FRUIT FRUITS FUND MANAGERS FUTURE PRICE FUTURE PRICES FUTURES FUTURES CONTRACT FUTURES CONTRACTS FUTURES EXCHANGE FUTURES EXCHANGES FUTURES MARKETS GOVERNMENT GUARANTEE GOVERNMENT POLICIES GOVERNMENT SUPPORT GRAINS HEDGING HOLDINGS INCOME INSTITUTIONAL INVESTORS INSURANCE INTERNATIONAL BANKS INTERNATIONAL INVESTORS INTERNATIONAL LAWS INTERNATIONAL MARKET INTERNATIONAL MARKETS INTERNATIONAL STANDARD INTERNATIONAL TRADE LEGAL FRAMEWORKS LENDING PORTFOLIOS LIBERALIZATION OF TRADE LIQUID MARKET LOCAL EXCHANGE MAIZE MARKET ACCESS MARKET FAILURES MARKET INSTRUMENTS MARKET INTERMEDIARIES MARKET LIQUIDITY MARKET MECHANISMS MARKET PARTICIPANTS MARKET PRICE MARKET SIZE MARKETING MATURITY MATURITY PERIOD MEAL MEATS MERCHANDISE MERCHANDISE TRADE MILLS MONEY MANAGERS NEW MARKET NEW MARKETS OATS OIL PRICES OPTION CONTRACTS ORANGE ORANGE JUICE PALM OIL PAYMENT SYSTEM PEANUTS PENSION PORK PORTFOLIO POTATO POTATOES PRICE CONTROLS PRICE DERIVATIVES PRICE FORMATION PRICE INCREASES PRICE INDICES PRICE MOVEMENTS PRICE RISK PRICE RISKS PRICE SUBSIDY PRICE SUPPORT PRICE VOLATILITY PRIVATIZATION PRODUCT QUALITY PUBLIC POLICIES PUBLIC POLICY PUBLIC-PRIVATE PARTNERSHIPS PURCHASING REAL ESTATE RED BEANS REGULATORY FRAMEWORK REPOS RESERVES RETURN RISK MANAGEMENT RURAL INFRASTRUCTURE SECURITIES SHAREHOLDERS SHORT-TERM FINANCE SOYBEAN SOYBEANS SPREAD STANDARD CONTRACTS STOCK EXCHANGE SUGAR SUGAR CANE SUPERMARKET SUPERMARKETS SUPPLIERS SUSTAINABLE DEVELOPMENT SWAPS TAX TAX BENEFITS TAX INCENTIVES TRADE FINANCING TRADE LIBERALIZATION TRADES TRADING TRADING SESSIONS TRANSACTION TRANSACTION COST TRANSACTION COSTS TRANSACTIONS COSTS TRANSPARENCY TRUST FUND VEAL VEGETABLES WAREHOUSE WAREHOUSE RECEIPTS WHEAT WHOLESALERS WINE
spellingShingle	AGRICULTURAL ACTIVITIES AGRICULTURAL COMMODITIES AGRICULTURAL COMMODITY AGRICULTURAL POLICIES AGRICULTURAL POLICY AGRICULTURAL PRODUCTION AGRICULTURE ARBITRATION AUCTIONS BANANAS BASIS RISK BEEF BENEFICIARIES BROKERAGE BROKERAGE FIRMS BROKERAGE HOUSES BROKERS BUSINESS ENVIRONMENT CAPITAL CONTROLS CAPITAL REQUIREMENTS CASH FLOW CASH MARKET CASH MARKETS CASH TRANSFER CEREALS CLEARING HOUSE COCOA COMMERCE COMMODITIES EXCHANGES COMMODITY BROKERAGE COMMODITY CONTRACTS COMMODITY EXCHANGE COMMODITY EXCHANGES COMMODITY FUTURES COMMODITY MARKETS COMMODITY OPTIONS COMMODITY PRICE COMMODITY SECTOR COMMODITY TRADE COMPETITIVENESS CORN COUNTRY TO COUNTRY CREDIT EXPOSURE CREDIT LINES CREDIT RISK DAIRY DERIVATIVE DEVELOPING COUNTRIES DOMESTIC MARKET DOMESTIC MARKETS EGGS ENABLING ENVIRONMENT ENVIRONMENTAL SUSTAINABILITY EXCHANGE MARKETS EXPORTERS FINANCIAL CRISIS FINANCIAL DERIVATIVE FINANCIAL EXCHANGES FINANCIAL EXPOSURE FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICES FOOD AID FOOD IMPORTS FOOD MARKETS FOOD POLICY FOOD PRICE FOOD PRICES FOOD PRODUCTION FOOD PRODUCTS FOOD RESERVES FOODS FOREIGN GOVERNMENTS FORWARD CONTRACT FORWARD CONTRACTS FORWARD MARKET FRUIT FRUITS FUND MANAGERS FUTURE PRICE FUTURE PRICES FUTURES FUTURES CONTRACT FUTURES CONTRACTS FUTURES EXCHANGE FUTURES EXCHANGES FUTURES MARKETS GOVERNMENT GUARANTEE GOVERNMENT POLICIES GOVERNMENT SUPPORT GRAINS HEDGING HOLDINGS INCOME INSTITUTIONAL INVESTORS INSURANCE INTERNATIONAL BANKS INTERNATIONAL INVESTORS INTERNATIONAL LAWS INTERNATIONAL MARKET INTERNATIONAL MARKETS INTERNATIONAL STANDARD INTERNATIONAL TRADE LEGAL FRAMEWORKS LENDING PORTFOLIOS LIBERALIZATION OF TRADE LIQUID MARKET LOCAL EXCHANGE MAIZE MARKET ACCESS MARKET FAILURES MARKET INSTRUMENTS MARKET INTERMEDIARIES MARKET LIQUIDITY MARKET MECHANISMS MARKET PARTICIPANTS MARKET PRICE MARKET SIZE MARKETING MATURITY MATURITY PERIOD MEAL MEATS MERCHANDISE MERCHANDISE TRADE MILLS MONEY MANAGERS NEW MARKET NEW MARKETS OATS OIL PRICES OPTION CONTRACTS ORANGE ORANGE JUICE PALM OIL PAYMENT SYSTEM PEANUTS PENSION PORK PORTFOLIO POTATO POTATOES PRICE CONTROLS PRICE DERIVATIVES PRICE FORMATION PRICE INCREASES PRICE INDICES PRICE MOVEMENTS PRICE RISK PRICE RISKS PRICE SUBSIDY PRICE SUPPORT PRICE VOLATILITY PRIVATIZATION PRODUCT QUALITY PUBLIC POLICIES PUBLIC POLICY PUBLIC-PRIVATE PARTNERSHIPS PURCHASING REAL ESTATE RED BEANS REGULATORY FRAMEWORK REPOS RESERVES RETURN RISK MANAGEMENT RURAL INFRASTRUCTURE SECURITIES SHAREHOLDERS SHORT-TERM FINANCE SOYBEAN SOYBEANS SPREAD STANDARD CONTRACTS STOCK EXCHANGE SUGAR SUGAR CANE SUPERMARKET SUPERMARKETS SUPPLIERS SUSTAINABLE DEVELOPMENT SWAPS TAX TAX BENEFITS TAX INCENTIVES TRADE FINANCING TRADE LIBERALIZATION TRADES TRADING TRADING SESSIONS TRANSACTION TRANSACTION COST TRANSACTION COSTS TRANSACTIONS COSTS TRANSPARENCY TRUST FUND VEAL VEGETABLES WAREHOUSE WAREHOUSE RECEIPTS WHEAT WHOLESALERS WINE Arias, Diego Ferreira Lamas, Alfredo Kpaka, Musa Agricultural Commodity Exchanges in Latin America and the Caribbean
geographic_facet	Latin America & Caribbean Colombia
relation	LCSSD occasional paper series on food prices;
description	A commodity exchange is a goods and financial market where different groups of participants trade commodities and commodity-linked contracts, with the underlying objective of transferring exposure to commodity price risks (UNCTAD). A commodity exchange that only trades goods is known as a physical or 'cash or forward' market, while the exchange that trades price derivatives is known as financial or 'futures and options' market (see Glossary for detailed definitions). Some agriculture commodity exchanges have both. Agricultural commodity exchanges date as far back as the early 18th century. Modern exchanges, notably the Chicago Board of Trade (CBOT) was created in 1848, recently merged with the Chicago Mercantile Exchange (CME), is one the oldest and most successful futures exchanges worldwide. Today several agricultural commodity exchanges exist throughout the Latin America and Caribbean (LAC) region. They facilitate trade and financial products in countries whose economies have a relatively large share of primary and secondary agricultural activities or either account for auctions on substantial food imports. This report looks at the current development of agricultural commodity exchanges in the LAC region and offers public policy recommendations that can foster the development of such exchange markets.
format	Publications & Research :: Working Paper
author	Arias, Diego Ferreira Lamas, Alfredo Kpaka, Musa
author_facet	Arias, Diego Ferreira Lamas, Alfredo Kpaka, Musa
author_sort	Arias, Diego
title	Agricultural Commodity Exchanges in Latin America and the Caribbean
title_short	Agricultural Commodity Exchanges in Latin America and the Caribbean
title_full	Agricultural Commodity Exchanges in Latin America and the Caribbean
title_fullStr	Agricultural Commodity Exchanges in Latin America and the Caribbean
title_full_unstemmed	Agricultural Commodity Exchanges in Latin America and the Caribbean
title_sort	agricultural commodity exchanges in latin america and the caribbean
publisher	World Bank, Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2011/03/17394026/agricultural-commodity-exchanges-latin-america-caribbean http://hdl.handle.net/10986/18020
_version_	1764435946750607360
spelling	okr-10986-180202021-04-23T14:03:35Z Agricultural Commodity Exchanges in Latin America and the Caribbean Arias, Diego Ferreira Lamas, Alfredo Kpaka, Musa AGRICULTURAL ACTIVITIES AGRICULTURAL COMMODITIES AGRICULTURAL COMMODITY AGRICULTURAL POLICIES AGRICULTURAL POLICY AGRICULTURAL PRODUCTION AGRICULTURE ARBITRATION AUCTIONS BANANAS BASIS RISK BEEF BENEFICIARIES BROKERAGE BROKERAGE FIRMS BROKERAGE HOUSES BROKERS BUSINESS ENVIRONMENT CAPITAL CONTROLS CAPITAL REQUIREMENTS CASH FLOW CASH MARKET CASH MARKETS CASH TRANSFER CEREALS CLEARING HOUSE COCOA COMMERCE COMMODITIES EXCHANGES COMMODITY BROKERAGE COMMODITY CONTRACTS COMMODITY EXCHANGE COMMODITY EXCHANGES COMMODITY FUTURES COMMODITY MARKETS COMMODITY OPTIONS COMMODITY PRICE COMMODITY SECTOR COMMODITY TRADE COMPETITIVENESS CORN COUNTRY TO COUNTRY CREDIT EXPOSURE CREDIT LINES CREDIT RISK DAIRY DERIVATIVE DEVELOPING COUNTRIES DOMESTIC MARKET DOMESTIC MARKETS EGGS ENABLING ENVIRONMENT ENVIRONMENTAL SUSTAINABILITY EXCHANGE MARKETS EXPORTERS FINANCIAL CRISIS FINANCIAL DERIVATIVE FINANCIAL EXCHANGES FINANCIAL EXPOSURE FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICES FOOD AID FOOD IMPORTS FOOD MARKETS FOOD POLICY FOOD PRICE FOOD PRICES FOOD PRODUCTION FOOD PRODUCTS FOOD RESERVES FOODS FOREIGN GOVERNMENTS FORWARD CONTRACT FORWARD CONTRACTS FORWARD MARKET FRUIT FRUITS FUND MANAGERS FUTURE PRICE FUTURE PRICES FUTURES FUTURES CONTRACT FUTURES CONTRACTS FUTURES EXCHANGE FUTURES EXCHANGES FUTURES MARKETS GOVERNMENT GUARANTEE GOVERNMENT POLICIES GOVERNMENT SUPPORT GRAINS HEDGING HOLDINGS INCOME INSTITUTIONAL INVESTORS INSURANCE INTERNATIONAL BANKS INTERNATIONAL INVESTORS INTERNATIONAL LAWS INTERNATIONAL MARKET INTERNATIONAL MARKETS INTERNATIONAL STANDARD INTERNATIONAL TRADE LEGAL FRAMEWORKS LENDING PORTFOLIOS LIBERALIZATION OF TRADE LIQUID MARKET LOCAL EXCHANGE MAIZE MARKET ACCESS MARKET FAILURES MARKET INSTRUMENTS MARKET INTERMEDIARIES MARKET LIQUIDITY MARKET MECHANISMS MARKET PARTICIPANTS MARKET PRICE MARKET SIZE MARKETING MATURITY MATURITY PERIOD MEAL MEATS MERCHANDISE MERCHANDISE TRADE MILLS MONEY MANAGERS NEW MARKET NEW MARKETS OATS OIL PRICES OPTION CONTRACTS ORANGE ORANGE JUICE PALM OIL PAYMENT SYSTEM PEANUTS PENSION PORK PORTFOLIO POTATO POTATOES PRICE CONTROLS PRICE DERIVATIVES PRICE FORMATION PRICE INCREASES PRICE INDICES PRICE MOVEMENTS PRICE RISK PRICE RISKS PRICE SUBSIDY PRICE SUPPORT PRICE VOLATILITY PRIVATIZATION PRODUCT QUALITY PUBLIC POLICIES PUBLIC POLICY PUBLIC-PRIVATE PARTNERSHIPS PURCHASING REAL ESTATE RED BEANS REGULATORY FRAMEWORK REPOS RESERVES RETURN RISK MANAGEMENT RURAL INFRASTRUCTURE SECURITIES SHAREHOLDERS SHORT-TERM FINANCE SOYBEAN SOYBEANS SPREAD STANDARD CONTRACTS STOCK EXCHANGE SUGAR SUGAR CANE SUPERMARKET SUPERMARKETS SUPPLIERS SUSTAINABLE DEVELOPMENT SWAPS TAX TAX BENEFITS TAX INCENTIVES TRADE FINANCING TRADE LIBERALIZATION TRADES TRADING TRADING SESSIONS TRANSACTION TRANSACTION COST TRANSACTION COSTS TRANSACTIONS COSTS TRANSPARENCY TRUST FUND VEAL VEGETABLES WAREHOUSE WAREHOUSE RECEIPTS WHEAT WHOLESALERS WINE A commodity exchange is a goods and financial market where different groups of participants trade commodities and commodity-linked contracts, with the underlying objective of transferring exposure to commodity price risks (UNCTAD). A commodity exchange that only trades goods is known as a physical or 'cash or forward' market, while the exchange that trades price derivatives is known as financial or 'futures and options' market (see Glossary for detailed definitions). Some agriculture commodity exchanges have both. Agricultural commodity exchanges date as far back as the early 18th century. Modern exchanges, notably the Chicago Board of Trade (CBOT) was created in 1848, recently merged with the Chicago Mercantile Exchange (CME), is one the oldest and most successful futures exchanges worldwide. Today several agricultural commodity exchanges exist throughout the Latin America and Caribbean (LAC) region. They facilitate trade and financial products in countries whose economies have a relatively large share of primary and secondary agricultural activities or either account for auctions on substantial food imports. This report looks at the current development of agricultural commodity exchanges in the LAC region and offers public policy recommendations that can foster the development of such exchange markets. 2014-04-22T22:00:10Z 2014-04-22T22:00:10Z 2011-03-17 http://documents.worldbank.org/curated/en/2011/03/17394026/agricultural-commodity-exchanges-latin-america-caribbean http://hdl.handle.net/10986/18020 English en_US LCSSD occasional paper series on food prices; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research Latin America & Caribbean Colombia

Agricultural Commodity Exchanges in Latin America and the Caribbean

Similar Items