首页 | 本学科首页   官方微博 | 高级检索  
     检索      


Contracting for Canola in the Great Plains States
Authors:William W Wilson  Bruce Dahl
Institution:1. University Distinguished Professor, Department of Agribusiness and Applied Economics, North Dakota State University Dept. 7610, , Fargo, ND, 58108‐6050;2. 701‐231‐7441701‐231‐7400;3. Research Scientist, Department of Agribusiness and Applied Economics, North Dakota State University Dept. 7610, , Fargo, ND, 58108‐6050
Abstract:Canola has become an important crop in the last decade in the United States. Production of canola is risky and competes with other crops that have varying risk reduction mechanisms. Processors develop and offer contracts with varying specifications that allow growers to reduce risk and attract canola production. In this study, preplant contracting strategies were evaluated in terms of risk and return for growers and processors. Alternative contracts include fixed‐price‐variety‐specific with and without act‐of‐God provisions, and an oil‐premium contract. Grower returns and processor gross margins were simulated and resulting distributions were evaluated using stochastic efficiency with respect to a function. In the dominant growing region, growers would prefer fixed‐price‐variety‐specific contracts versus contracts with oil premiums. The latter would only be preferred by crushers that are highly risk averse. The results vary regionally suggesting that contract types should vary by region to be acceptable to a broader range of growers and processors.
Keywords:
设为首页 | 免责声明 | 关于勤云 | 加入收藏

Copyright©北京勤云科技发展有限公司  京ICP备09084417号