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From the Publisher"John Williams work is a pioneering contribution to explain the complex use of financial agricultural markets for participants of the physical markets. It presents the opportunities and the strategies of using derivative contracts, from basic forward contracts to structured derivatives, in a very sound manner. The implications for the efficiency of supply chains are clearly stated. A challenging work which is really a great success." – Jean E. Cordier, Professeur Agrocampus Ouest, France.
"Risk in the production and distribution of agricultural commodities is influenced by production uncertainty, price risk, and the institutional environment in which trading occurs. The major actor in this environment is government, which can both facilitate the management of risk management institutions such as derivatives markets and also limit their efficient operation through subsidies, production-price controls, over-regulation, etc. This book focuses on the important issues affecting markets, as well as explaining the principles and mechanics of risk management strategies." – Professor Bill Schroder, Melbourne, Australia.
"John Williams brings to us in this new book an interesting and integrated approach to the growing uncertainties existing in modern food chains. The challenge to produce food for a growing population, with income changes and urbanizing, is putting pressure on resources, increasing our exposure. It is a very important topic for discussions in the next decade, and the book helps to improve our capacity of analysis." – Professor Marcos Fava Neves, University of São Paulo, Brazil.