Financial models for agricultural risk management in Western Australia

Zhibo Guo

doi:10.4225/23/59af43e4d2e56

Financial models for agricultural risk management in Western Australia

Zhibo Guo

UWA School of Agriculture and Environment

Research output: Thesis › Doctoral Thesis

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Abstract

Western Australian crop farmers have to manage high price and yield risks with a limited set of risk management tools. This
thesis analyses methods of risk management through four papers. The first considers the choice of wheat price futures
contracts. The second measures price risk using VaR. The third compares alternative wheat yield distributions. The final
paper combines findings on price and yield risk to determine revenue risk. The thesis concludes that the lack of specific futures
contracts for WA wheat means that risk management is only partial and requires adaptation of hedging positions during the
growing season.

Original language	English
Qualification	Doctor of Philosophy
Awarding Institution	The University of Western Australia
Supervisors/Advisors	Mugera, Amin, Supervisor White, Ben, Supervisor
Thesis sponsors	Australian Government Research Training Program
Award date	25 Aug 2017
DOIs	https://doi.org/10.4225/23/59af43e4d2e56
Publication status	Unpublished - 2017

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THESIS - DOCTOR OF PHILOSOPHY - GUO Zhibo - 2017
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Cite this

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title = "Financial models for agricultural risk management in Western Australia",

abstract = "Western Australian crop farmers have to manage high price and yield risks with a limited set of risk management tools. Thisthesis analyses methods of risk management through four papers. The first considers the choice of wheat price futurescontracts. The second measures price risk using VaR. The third compares alternative wheat yield distributions. The finalpaper combines findings on price and yield risk to determine revenue risk. The thesis concludes that the lack of specific futurescontracts for WA wheat means that risk management is only partial and requires adaptation of hedging positions during thegrowing season.",

keywords = "Agricultural Risk Management, Price risk, Yield risk, Revenue Risk, Price Risk Hedging, Wheat Yield Distribution, Wheat Yield Simulation",

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AB - Western Australian crop farmers have to manage high price and yield risks with a limited set of risk management tools. Thisthesis analyses methods of risk management through four papers. The first considers the choice of wheat price futurescontracts. The second measures price risk using VaR. The third compares alternative wheat yield distributions. The finalpaper combines findings on price and yield risk to determine revenue risk. The thesis concludes that the lack of specific futurescontracts for WA wheat means that risk management is only partial and requires adaptation of hedging positions during thegrowing season.

KW - Agricultural Risk Management

KW - Price risk

KW - Yield risk

KW - Revenue Risk

KW - Price Risk Hedging

KW - Wheat Yield Distribution

KW - Wheat Yield Simulation

U2 - 10.4225/23/59af43e4d2e56

DO - 10.4225/23/59af43e4d2e56

M3 - Doctoral Thesis

ER -

Financial models for agricultural risk management in Western Australia

Abstract

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