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| Cutts, Michela; Hassan, Rashid M.. |
| In almost all of the Southern Africa Development Community (SADC) countries maize is cropped on a commercial basis except in Mauritius and Seychelles. Maize meal is the most important food staple in Southern and Eastern Africa. This is one of the main reason many governments in the region implement various policies to protect the maize sector. With adoption of the Uruguay Round Agreement on Agriculture (URAA) in the late 1990s, there has been a wave of market liberalization in the region. Maize production and marketing have seen major reforms with the URAA, market liberalization, and the Structural Adjustment Programs (SAPs). Private sector participation in the supply of maize inputs (improved seed and fertilizer) and grain marketing has steadily... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: International Relations/Trade; Productivity Analysis. |
| Ano: 2003 |
URL: http://purl.umn.edu/19075 |
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| Geyser, Mariette; Cutts, Michela. |
| Commodity prices in general are known to have a high volatility. This is in fact what attracts speculators. The South African futures exchange (SAFEX) is not immune to this volatility. Volatility increases the risk of paying higher prices for a specific commodity, and it also makes the use of derivative instruments to hedge against price risk more expensive. Given the importance of South Africa as a regional supplier of maize and price discovery mechanism, investigations into the volatility of the maize price are not only important, but also indispensable if all parties involved are to manage this risk. The question therefore is whether the SAFEX maize price volatility can be explained by using fundamental factors or whether this volatility is... |
| Tipo: Journal Article |
Palavras-chave: Derivative; Price volatility; Call option; Hedging; Food risk; SAFEX; CBOT; Demand and Price Analysis. |
| Ano: 2007 |
URL: http://purl.umn.edu/8009 |
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