13.02.2013
"The launch of the wheat futures market on the Milan Stock Exchange is an interesting case," said the Professor of Agricultural Economics and Appraisal, University of Milan. The limitation in Italy in the past lay in the small dimensions of Italian market on a world scale." Attention must be paid to the relationship between actual quantities and contracts. "If there are too many contracts, as was the case for crisis in 2007-08, they trigger speculation."
Verona, 13 February 2013. Agrex passes its first examination. The segment on the Idem market of the Italian Stock Exchange dedicated to agricultural commodity derivatives was inaugurated last 21 January with wheat futures.
"The launch of the wheat futures market on the Milan Stock Exchange is an interesting case," said Dario Casati, Professor of Agricultural Economics and Appraisal, University of Milan, during the first Fieragricola Best Seller Award in Verona. The limitation in Italy in the past lay in the small dimensions of Italian market on a world scale."
Wheat, however, may well be an exception. "Italy is an important producer as well as a major importer on the world market in quantitative and qualitative terms in order to procure supplies and export one-third of its pasta output," the agrarian economist remarked. There are all the premises, including scope for such an important stock exchange at Milan; the undertaking is important and should be followed up closely given the potential it may develop."
Futures, on batches of 50 tonnes, will have five deadlines and physical delivery will be made to the silos in Foggia in March, May, September and December.
During the crisis years, hallmarked by up-and-down agricultural prices, the topic of futures markets returned to the fore: on the one hand, there are those who think they are a valid way for encouraging market stability, while others accuse them of being one of the causes of volatile prices and speculation. "Attempts were made in Italy in the past with little success to activate meaningful futures markets in order to protect our market against the ups and downs on the world scene," Casati summed up. Now that there is no longer CAP protection, buyers and agriculturists have discovered that prices have become significantly more unstable."
Futures are a way for stabilising prices, provided there are not too many contracts. Futures markets help encourage stable prices because, as Casati explained, "they not only announce prices in advance but also allow operators to "cover themselves" with contracts in relation to final prices. The mechanism, in the case of agricultural products, is based on the fact in the end the physical product to be used in various ways has to be available. The condition whereby everything functions properly is given by the incidence of the market on the total, precise regulations and especially the permitted ratio between physical quantities and contracts. If there are too many contracts, as was the case for crisis in 2007-08, they trigger speculation."
MŽ Consulting & Fairs
Poslovne storitve
Matjaž Žigon s.p.
Head Office:
Grčarevec 8
1370 Logatec
Slovenia
Tel.: +386 1 750 94 90
E-mail: info@mz-consulting.org
Turkey Office:
Fenerbahçe Mh. Dalyan Aralığı Sk.
Emek Apt. No:13 D:2 Kadıköy 34726
İstanbul Turkey
Tel.: +90 532 5214849
E-mail: hilal@mz-consulting.org
2024 Calendar
Expo Riva Schuh & Gardabags - Riva del Garda 13-16 January 2024
SIGEP - Rimini 20-24 January 2024
TISE - The International Surfaces Event Las Vegas 24-26 January 2024
FIERAGRICOLA - Verona 31 January-3 February 2024
Samuexpo - Pordenone 1-3 February 2024
Pescare Show - Vicenza 3-4 February 2024
Hospitality - Il Salone dell'Accoglienaza - Riva del Garda 5-8 February 2024
Aquafarm/Novel Farm - Pordenone 14-15 February 2024
ForumPiscine - Bologna 14-16 February 2024
OUTEX - Bologna 14-16 February 2024
MYPLANT & GARDEN - Milano 21-23 February 2024
CUCINARE - Pordenone 2-10 March 2024
Ortogiardino - Pordenone 2-10 March 2024
MYPLANT & GARDEN - Milano 21-23 February 2024
Progetto Fuoco - Verona 28 February-2 March 2024
Key Energy - Rimini 28 February-1 March 2024
Vinitaly - Verona 14-17 April 2024
Enolitech - Verona 14-17 April 2024
Sol & Agrifood - Verona 14-17 April 2024
Radioamatore Hi-Fi car - Pordenone 20 21 April 2024
Next Mobility Exhibition - Milano 8-10 May 2024
Transpotec - Milano 8-11 May 2024
Wine to Asia - Shenzhen 9-11 May 2024
Expo Riva Schuh & Gardabags - Riva del Garda 15-18 June 2024
Xylexpo - Milano 21-24 May 2024
RIMINIWELLNESS - Rimini 30 May-2 June 2024
Wine South America - Brasil 3-5 September 2024
MILANO Fashion&Jewels - Milano 14-17 September 2024
Marmomac - Verona 24-27 September 2024
SUN Beach&Outdoor Style - Rimini 9-11 October 2024
SIA Hospitality Design - Rimini 9-11 October 2024
FIERACAVALLI - Verona 7-10 November 2024
Ecomondo - Rimini 5-8 November 2024
IBE - Rimini 19-21 November 2024
2025 Calendar
MARCA - Bologna 15-16 January 2025
PTE - Milano 22-24 January 2025
Bit - Borsa Internazionale del Turismo - Milano 9-11 February 2025
SANA Food - Bologna 23-25 February 2025
Italia Legno Energia - Arezzo March 2025
Horeca Next - Pordenone 10-12 February 2025
SANA Beauty - Bologna 20-23 March 2025
ZOOMARK - Bologna 5-7 May 2025
AUTOPROMOTEC - Bologna 21-24 May 2025
IPACK-IMA - Milano 27-30 May 2025
Pharmintech - Milano 27-30 May 2025
RIVE - Pordenone 5-7 November 2025
HOST - Milano 17-21 October 2025
SICUREZZA - Milano 19-21 November 2025
MADE EXPO - Milano 19-22 November 2025
Global Elevator Exhibition - Milano 19-21 November 2025
MŽ Consulting & Fairs, Copyrights reserved
Izdelava spletnih strani - Spletna postajaWebsite developed by:
Our website uses cookies for better user experience
By continuing to browse our website you agree to our use of cookies which helps us provide you with a good user experience on our website. We use Google Analytics for our own analytical purposes and it installs cookies for this purpose (delete GA cookies). More about cookies.