Yesterday, the industrial aid and the poverty alleviation project jointly promoted by China Taibao Property Insurance Zhejiang Branch and Zheshang Futures, the first target of the cotton target price insurance of Aksu Keping County, is expected to be the first place in the pilot area. Multi-family, more than 40,000 mu of cotton fields benefited, providing cotton price risk protection amount of more than 100 million yuan.
In recent years, “insurance + futures†has become a hot topic in the field of agricultural products (marketing 9.06 suspension, medical stocks) and finance. Xinjiang Aksu is a national-level high-quality commercial cotton production base, which is known as “China Cotton Capital†and “Longâ€. The hometown of cotton wool." The financial revenue of Keping County in the pilot area ranked 9th in the Aksu area in 2016 and is a national poverty-stricken county. Cotton is one of the leading agricultural industries in Keping County and one of the main sources of income for local farmers. Akzo cotton target price insurance project is currently the largest “insurance + futures†business in China. The amount of cotton hedged by the futures market reaches 5,000 tons, effectively increasing the enthusiasm of cotton farmers, stabilizing farmers' income, giving full play to precision poverty alleviation and enhancing industry “hematopoieticâ€. The function.
In the product design, the Zhengshang Cotton Futures Contract 1801 is the subject of insurance, the insurance price is 15,600 yuan / ton, the insurance period is September to November 2017, the market price is set to the average of the contract closing price of the insurance period. price. During the insurance period, the ginning factory purchased cotton for the insured farmers at a reserve price of 15,600 yuan / ton (equivalent to 7.6 yuan / kg of secondary seed cotton). After the end of the insurance period, based on 15,600 yuan / ton, if the average price increases by 1,000 yuan, compensate farmers 120 yuan / ton (maximum compensation of 480 yuan / ton); for every 1,000 yuan fell, compensation ginning factory 180 yuan / ton. For cotton farmers, the cost of planting cotton is 1500-1600 yuan/mu, and the purchase price of 15600 yuan/ton is converted to cotton planting income of 1950 yuan/mu. The cotton farmers can guarantee the income by selling cotton spot, so don't worry about ginning. The factory pressure price, stimulate the enthusiasm of cotton planting, and increase investment in high-quality cotton production. For the ginning factory, participating in the project has obtained the basic seed cotton source, which reduces the marketing cost. If the market declines the price cycle, it can get a certain proportion of the payment of China Pacific Insurance.
It is worth mentioning that in the first year of the pilot project, local cotton farmers do not have to pay a penny. The government does not need to subsidize a penny. No matter whether the futures market price is up or down, cotton farmers can obtain stable income security.
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