Study On The Agricultural Commodity Option And Its Effect On Market Risk Prevention

China is a country of large agricultural production and consumption,with an average annual production of nearly 20 tons of agricultural products.Due to the production of seasonal,perishable and other aspects of the impact of agricultural products,operators face multiple risks in production and sales,not only the natural risk,policy risk,also faces a huge market risk.The agricultural commodity option derived from the futures market,can't only provide a hedging tool for futures traders,and stabilize the price of agricultural products and agricultural operators to reduce risk,therefore,how to use agricultural commodity option to avoid market risk has caused the attention of many scholars at home and abroad.This will be in the market risk of agricultural products in the analysis of the role of China's agricultural products and agricultural commodity option contract design and carry out agricultural product option in our country conditions,problems and countermeasures of three aspects of in-depth study,the main research contents are as follows:(1)The design of the contract of agricultural commodity option in China.Through the comparative study of foreign exchange contracts mainly mature agricultural products,combined with China's current economic situation and characteristics of agricultural products of agricultural products in terms of option contract,referring to the mature international experience and combining with the actual situation in our country,the scientific design of the contract of agricultural commodity option,to provide reference for agricultural development product option trading in our country in the future.In this paper,the corresponding design suggestions are put forward on the trading unit,the minimum change price,the limitation of maximum price fluctuation,the month of contract,the execution price interval and the execution mode.(2)The role of agricultural commodity option in China's agricultural market risk prevention.This part mainly includes the mechanism of agricultural product market risk and causes of current agricultural products market risk management tools and limitations of agricultural products and option in the market risk in agricultural products and market advantage,risk perception of agricultural products and its influencing factors of option willingness to participate in the empirical analysis of four aspects.Among them,the empirical part of 239 questionnaires in 17 cities of Shandong Province based on Logit,using descriptive statistics and econometric model of market risk perception for agricultural products,operators of the market risk aversion on the status of cognitive option of futures and factors affecting its willingness to participate in agricultural commodity option in-depth analysis.The study found that: the market risk has became the most important alternative to natural risk management of agricultural products in the process of agricultural products;the operators lack the ability of active market risk aversion and the cognition of agricultural futures and option is not high;the main influencing factors of agricultural product management option intention including education level,the scale of business,market risk perception and the futures cognition of agricultural products,the futures of agricultural products is the most important factor of cognitive effects.(3)The conditions,problems and Countermeasures of the development of agricultural commodity option in China.The study mainly from the foundation,futures market of agricultural products and foreign option trading in agricultural products successful management experience in China agricultural commodity option was introduced,and aiming at the existing problems in the perfection of laws and regulations,strengthen market supervision,put forward countermeasures and suggestions on the spot market,and perfect the market subject cultivation infrastructure construction.