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Special Unit on Commodities, UNCTAD

Market Information Systems Course on Economics of Commodity Production and Trade UNCTAD Virtual Institute Study Tour (University of Dar-es-Salaam): 15-26 February 2010. Special Unit on Commodities, UNCTAD. MARKET INFORMATION SERVICE.

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Special Unit on Commodities, UNCTAD

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  1. Market Information SystemsCourse on Economics of Commodity Production and TradeUNCTAD Virtual Institute Study Tour (University of Dar-es-Salaam): 15-26 February 2010 Special Unit on Commodities, UNCTAD

  2. MARKET INFORMATION SERVICE A service, usually operated by the public sector, which involves the collection on a regular basis of information on prices and, in some cases, quantities of widely traded agricultural products from rural assembly markets, wholesale and retail markets, as appropriate, and dissemination of this information on a timely and regular basis through various media to farmers, traders, government officials, policymakers and others, including consumers. (FAO)

  3. MARKET INFORMATION Observations • Asymmetry of information • Information is often centralized among few actors, the major part of stakeholders have no – or restricted access to market information; • In the opposite, the range of available information is (sometimes) too large  time consuming to find and check  delay in taking decisions; • Lack of time as well as the necessary capacity to analyze the various pieces of information.

  4. MARKET INFORMATION Observations (2) • When sources of information do exist: • They are not always organized; • They are usually charged – this trend is strengthening; • Lack of objectivity.

  5. MARKET TRANSPARENCY A Market Information Service is seen as providing “transparency,” i.e. a full awareness of all parties of prevailing market prices and other relevant information. This can contribute to “arbitrage”, i.e. the act of buying at a lower price and selling at a higher price.

  6. MARKET TRANSPARENCY (2) • efficient allocation of productive resources • improvement of the bargaining position of farmers • reduction of transaction costs by reducing risks • decrease of market uncertainties linked to the lack of information

  7. MARKET TRANSPARENCY (3) • increase awareness of market opportunities • provide commercially useful information on a timely basis • provide information for Early Warning Systems for food security.

  8. MARKET INFORMATION SYSTEMS (1) Collection of market information in the field Transmission and data processing Dissemination of information Use of information

  9. MARKET INFORMATION SYSTEMS Beneficiaries (1) For governments : • Quickly detect the changes in market structures; • Effectively adapt their economic, tax and trade policies according to these changes; • Significantly enhance their competitiveness.

  10. MARKET INFORMATION SYSTEMS Beneficiaries (2) For producers and producers’ associations • Improve their bargaining power; • Increase their added value, price received; • Potentially have access to new market segments; • Long term vision: possibility to plan production and commercialisation.

  11. MARKET INFORMATION SYSTEMS Beneficiaries (3) Other market stakeholders, such as: • Trading companies; • Exporters; • Processors; • Consumers.

  12. MARKET INFORMATION SYSTEM UNCTAD Role and mandate UNCTAD role in regard to market information is to promote market transparency, as well as assist world neediest people in accessing and analyzing commodity market information. UNCTAD has developed an integrated knowledge management strategy: • Objectives • Promote market transparency • Enhance the understanding of market structures • Support market to economic analysis Support the formulation of adequate strategies aiming to optimize commodity production, processing, trade as well as financing.

  13. MARKET INFORMATION UNCTAD Role and mandate (2) Infocomm is an electronic portal aiming to make available to various stakeholders free, structured, concise, objective as well as regularly updated commodity market information. http://www.unctad.org/infocomm/index.htm

  14. MARKET INFORMATION INFOCOMM - UNCTAD Other languages available for this commodity 10 homogeneous entries Partnership with specific authoritative sources of information EASY TO ACCESS – EASY TO NAVIGATE Banana, cashew nuts, citrus fruits, cotton, jute, karite, olive, rice, rubber, spices, sugar, timber, tobacco, tropical timber, wheat, Cocoa, tea Iron ore and steel, nickel, palladium, platinum, zinc Crude oil, natural gas

  15. MARKET INFORMATION INFOCOMM – THE ROAD AHEAD • Strengthening and development of partnerships with authoritative sources of information • Regular update of Infocomm e-profiles on commodities; • Access to new expertise; • Sharing of experience. • New design, new technology => more efficient website and effective market information • Facilitation of content management; • Promptness in getting and disseminating market information; • Cost cuttings; • Homogeneity of UNCTAD websites (ease the navigation). • The work is in the pipeline and product available by the end of summer 2010.

  16. MARKET INFORMATION UNCTAD Role and mandate (3) Infoshare: regional/national sharing database Infoshare project is structured around a sharing database aiming to reduce market information asymmetry within national/regional commodity supply chains. http://infoshare.unctad.org

  17. MARKET INFORMATION INFOSHARE • Quantitative information: • Prices; • Costs; • Quantities traded by grade. • Qualitative information: • Quality standards; • List of exporters, buyers; • Current interest rates in the chain; • Agricultural practices; • Other important data or information for commodity chain monitoring.

  18. MARKET INFORMATION INFOSHARE • . • Main objectives • To make it easier to collect and capture data; • To facilitate data analysis and shed light on the marketing and supply chains; • To facilitate the dissemination of information by making the process automatic and targeting the appropriate users; • To improve the quality of information.

  19. The Cameroon project The database is centrally hosted with the Cameroonian National Cocoa and Coffee Board (the central coordinating unit) and peripherally fed by qualified persons at the provincial, departmental and, occasionally, local levels. 55 collection/dissemination points were identified. System installation in the capital and 3 provinces Training completed: 3 sets of workshops, 51 beneficiaries in total from ONCC, farmers organisations (CONAPROCAM – 15 000 members), ministry of agriculture and ministry of commerce.

  20. Sustainability of Infoshare Capacity building through training modules on use of Infoshare as well on: wider commodity issues, including standard terms in international sales contracts, price formation and discovery mechanisms, as well as access to niche markets. and on key substantive issues in the agricultural commodities value chain.

  21. Replicability of Infoshare: In the Pacificand in the Caribbean The Infoshare tool has been upgraded and will be tailor made to local settings and requirements. In the Pacific: Creation of a pilot sub-regional system with national systems. In the Caribbean: UNCTAD has initiated discussions with local authorities and will fully take into their recommendations on identifying synergies between Infoshare and existing initiatives in the region.

  22. MARKET INFORMATION SYSTEMS A regional experience Regional Agricultural Trade Intelligence Network (RATIN) Mainly created in order to: •  food insecurity within the region; •  access to timely market and trade information; •  trading opportunities. Mainly focused on: • Small and medium scale cross border traders Main information available: • Production data for maize, bean and rice (1981-2008, when available); • Monthly price data in US$/t (for selected local markets) for maize, beans and rice (1996/97-2010); • Price information about 3 other commodities have been added in 2009 (wheat, sorghum and millet); • Food balance sheet; • Regional trade flows.

  23. Thank you andrei.krylov@unctad.org

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