Warehouse Receipts Krassimir Kiriakov FAO WHR International Consultant Rome, June 20 th 2012 The International Experience and Future Development Opportunities
Market Deficiencies - Lack of trade rules and underdeveloped domestic commodity market infrastructure - Difficult access to international markets - High price of agricultural inputs - Lack of reliable storage facilities - Lack of reliable commodity quality standards - Lack of access to organized commodity markets (exchanges) - Very Limited access to short-term financing - Lack of reliable market information
- - Generate larger markets - - Improve the overall marketing infrastructure - - Identify the proper regulatory role for the government - - Provides increased access to short-term credit - - Develop new financial instruments - - Attracts additional capital - - Reduce the participants risk product quality and quantity reliable transactions reduced performance risk WHR System Advantages
Political Environment Structural Components - Legislation - Licensing and Inspection - Public Warehouses - Warehouse Receipt - Financial Performance Guarantees Core Elements of WHR System :
A. Creating enabling environment : case study : Russia B. Project implementation: case study : Serbia C. Creating Knowledge Center: FAO support for WHR
Central and Eastern Europe Central Asia/Pacific Asia Africa Latin America Future Development Opportunities
THANK YOU FOR YOUR ATTENTION! Krassimir Kiriakov FAO, International Consultant 1000 Sofia Vitosha 63 blvd