1, japonica rice can be delivered from the warehouse.
First, japonica rice has certain storage resistance, and its quality can still be accepted by the market after storage for 1 year under normal circumstances;
Second, the japonica rice warehouse is easy to choose. There are many large grain depots in China, and the available storage capacity is abundant. At the same time, many rice mills also have good storage facilities and can be used as delivery warehouses.
Third, the quality of japonica rice will change during storage, but the exchange can solve the risk of quality change caused by the storage of japonica rice by shortening the validity period of warehouse receipts.
2. The significance of factory warehouse delivery is mainly reflected in the following aspects:
(1) The low cost of warehouse receipt registration can reduce the capital cost of rice industry group's participation in delivery. As a factory warehouse, if rice industry group wants to participate in futures delivery, it can form warehouse receipts through bank guarantees or other forms of guarantees, without purchasing a large number of goods in advance, which can reduce the capital occupation of rice industry group. In addition, warehouses can also pledge warehouse receipts for financing, or sell warehouse receipts in the spot market to collect payment in advance, which is conducive to the financial function of the futures market.
(2) Reduce outbound links and reduce distribution costs. In the factory warehouse delivery, if the buyer needs rice, he can negotiate to pick it up directly from the factory warehouse, and the factory warehouse will process the rice into rice and then deliver it, which reduces the intermediate handling and loading and unloading links from the warehouse to the rice processing factory, reduces the delivery cost, and enables spot enterprises to better enjoy the convenience and speed brought by futures to the real economy.
(3) Reduce the seller's risk of goods storage. Any goods stored in the warehouse will face the risk of qualitative change, quantitative change or even loss. The warehouse receipt is adopted, which saves the link of inventory and eliminates the risk of goods in the storage process.
(4) The factory warehouse is also a safety valve for futures delivery. When there is delivery risk in the futures market due to insufficient spot, the factory warehouse may be a deterrent to forced warehouse opening because of its low cost and fast time to register warehouse receipts. If the number and storage capacity of warehouses are limited, factory warehouses can quickly make up for it.