On the evening of 15th, the CSRC approved Zhengshang Institute to conduct peanut futures trading, and the listing time was February 1st, and the domestic oil and fat market was full of joy. As an important oil crop in China, peanut has already entered thousands of households. Its listing and trading can not only get the upstream and downstream out of the current chaotic pricing state, but also provide a powerful risk management tool for enterprises and farmers. So how much do you know about peanuts and the industry story behind them?
"The listing of peanut futures can help farmers and related enterprises achieve stable operation and guide the transformation and upgrading of peanut industry; On the other hand, the listing of peanut futures can expand the scale of agricultural futures, which is conducive to expanding the futures market to serve the real economy. " The relevant person in charge of Zhengshang Institute said.
China is the largest peanut producer in the world, ranking first in planting area and output. According to the data of the National Bureau of Statistics, the total output of peanuts in China in 219 was 12.15 million tons, with a total output value of about 91.13 billion yuan. Because of the high yield of peanut planting, the planting area and output of peanut in China have shown a steady upward trend in recent years, and peanut planting has become an important source of income for most farmers in the main producing areas.
Peanut is a completely market-oriented variety. Since 214, domestic peanut prices have shown a fluctuating trend, and farmers and industrial operators are facing greater price risks, and price risk management tools are urgently needed. In addition, peanut, as an important oil crop in China, has important strategic significance to ensure the safety of oil and fat in China. In the face of frequent fluctuations in prices, financial tools to manage price risks and stabilize production and operation are also urgently needed.
"The listing of peanut futures is not only in line with the national policy of supporting agriculture and benefiting farmers, but also conducive to the implementation of the national strategic policy of ensuring the safety of oil supply, which is of positive significance to the peanut industry." The relevant person in charge of Zhengzhou Commodity Exchange introduced to the reporter of Grain and Oil Market.
China is a big producer and exporter of peanuts
I am a humble person. However, I began to feel more proud than Qin Shihuang when I ate peanuts with four coppers in my pocket while walking. If someone asks me, "If you are the emperor, how can you enjoy it?" Without thinking, I could answer, "Send four ministers with two-dollar coppers and buy as many peanuts as you like!" " The description of peanuts in this passage comes from Mr. Lao She's essay peanuts, which compares eating peanuts casually to being an emperor's enjoyment.
Peanut is an important cash crop and oil crop in China, also known as "groundnut" or "longevity fruit". Among the main oil crops in China, peanut planting area ranks third, second only to soybean and rapeseed. Relevant data show that in 22, China's peanut planting area is 6.9 million mu, accounting for 18.36% of the total planting area of the five major oil crops in China. China is the largest producer of peanuts in the world, and its planting area and output rank first in the world. According to the data of the National Bureau of Statistics, the total output of peanuts in China in 219 was 12.15 million tons, with a total output value of about 91.13 billion yuan. Because of the high yield of peanut planting, the planting area and output of peanut in China have shown a steady upward trend in recent years, and peanut planting has become an important source of income for most farmers in the main producing areas.
Peanut is widely planted in China, and it is planted all over the country except Tibet, Qinghai and Hong Kong. However, there are significant differences in factors endowment, technical level, infrastructure and industrial policies of peanut production among provinces. Affected by the above factors, China's peanut production pattern is constantly changing, and the corresponding advantageous regions and industrial belts have not yet formed. At present, peanut planting in China is mainly distributed in Central China, East China, South China and North China. Specific to the provinces, they are concentrated in Shandong, Henan, Hebei, Jiangsu, Anhui, Guangxi, Liaoning, Sichuan, Hubei, Guangdong and Fujian. Among them, Henan and Shandong are the two largest peanut planting provinces in China, accounting for 26.4% and 15.5% of the planting area respectively.
Henan and Shandong are the two provinces with the largest peanut production in China. Peanut planting in China is mainly concentrated in Huang-Huai-Hai, Yangtze River valley and Northeast China, mainly in Henan, Shandong, Jilin, Hebei, Guangdong, Hubei, Liaoning, Anhui, Sichuan, Guangxi and other provinces. The total output of peanuts in the above 1 provinces accounts for more than 9% of the national total output.
in terms of provinces, Henan and Shandong are the top two peanut producing provinces in China. According to the data of the National Grain and Oil Information Center, the peanut output of the above two provinces in 219 was 3.71 million tons and 2.2 million tons respectively, accounting for 48.7% of the national total.
According to reports, China is a big producer and exporter of peanuts, and the importing countries are mainly concentrated in Africa. In recent years, due to the fact that the international peanut price is much lower than that of China, the import volume of peanuts has been rising continuously. From January to July 22, the total import volume of peanuts reached 622,9 tons, far exceeding the import level in previous years, of which imports from Senegal and Sudan accounted for 87%. Exports are concentrated in Europe and Japan, with an annual output of about 1, tons. Affected by the increasing peanut price and planting income, peanut production has shown three characteristics in recent years: the planting area has been slowly increased, the yield level has been continuously improved, and the total output has been increasing.
"With the economic development and social progress, China's peanut consumption will show the following trends: First, with the improvement of residents' living standards and urbanization level, peanut consumption demand will increase; Second, with the gradual improvement of residents' requirements for food safety and green health standards, the requirements for peanut quality will also become stricter. " A person who has been studying the peanut market for a long time pointed out.
Small peanuts bring out big industries
China's peanut industry market is fully competitive, with a large number of related enterprises, less policy intervention and a high degree of marketization. There are a large number of peanut processing enterprises in China. There are dozens of large-scale peanut processing enterprises in almost every county in Shandong and Henan key peanut producing areas, and there are countless small self-employed enterprises.
However, China's peanut industry is also facing some problems in its rapid development, such as "big but not strong, many but not excellent, short industrial chain and weak competitiveness".
Zhengyang County, Zhumadian City, Henan Province has been the largest peanut planting county for more than 2 years in a row, planting more than 1.7 million mu of peanuts all the year round, with an annual output of more than 5, tons. It has the reputation of "peanuts in the world look at China and peanuts in China look at Zhengyang". In recent years, Zhengyang County has taken the development of peanut industry as an important part of deepening the structural reform of agricultural supply side, made great efforts to expand planting scale and strengthen deep processing, and formed a full-chain industrial cluster integrating R&D, production, processing and international and domestic trade.
Zhang Xinyou, an expert from Henan Academy of Agricultural Sciences, a peanut academician who "inserted scientific and technological wings into peanut production", has cultivated a series of peanut varieties such as "Yuanza 912" and "Yuanza 937" in just a few years with sincere heart, which not only effectively solved the soil problem, but also made up for the shortcomings of the traditional variety "Xiaobaisha" such as poor disease resistance, and made Zhengyang peanut planting area.
Now, relying on this "very useful" quality, Zhengyang County has turned small peanuts into a big industry: using peanut stalks and shells to produce feed and cultivate edible fungi has driven many poor households in the county out of poverty and become rich; Junlebao, Lu Hua, Arowana and other dairy products and edible oil enterprises, which have invested billions of yuan, have set up factories in Zhengyang.
walk into zhengyang peanut e-commerce service center, where you will find four functional areas including e-commerce O2O exhibition hall, e-commerce reception, e-commerce service and e-commerce training.
for the "double innovation" groups in peanut industry, the double innovation center provides "one-stop" services for office and life in the fields of people's livelihood, culture, education, public services and industry, with "one body and two wings" incubation mode (technology incubation+investment and financing+supporting services in the park) as the core, supporting government support and resource docking. Zhengyang Peanut Culture Exhibition Center is the first exhibition center with peanuts as the theme in China. The exhibition hall covers an overall area of 2, square meters. The exhibition focuses on the historical development of peanuts and Zhengyang, and it is divided into seven divisions: Preface Hall, Peanut Hall, Zhengyang Hall, Central Planning Hall, Peanut Town Hall, Smart Agriculture Hall and Tail Hall. The inspection and testing center was established in September 218, with a building area of more than 1, square meters and an investment of 15 million yuan. The testing items include routine physical and chemical testing, microbial testing, metal and pollutant testing, aflatoxin testing, pesticide residue testing and labeling.
"Zhengyang International Peanut Industrial Park, which integrates peanut processing, futures delivery, peanut testing and peanut trading, is also the only national modern agricultural industrial park with peanuts as the leading industry in China." Liu Yanli, vice chairman of Zhumadian CPPCC and secretary of Zhengyang County Party Committee, said that at present, the quotations of more than 2, peanut enterprises all come from Zhengyang, forming the price center of Zhengyang peanuts, and the newly established Zhengyang Bohai Peanut Trading Center further demonstrates the influence of Zhengyang peanuts. In the next step, Zhengyang will also build a dream factory, a cultural park, a sightseeing park and a museum with the theme of peanut industry, and build an all-round peanut industrial chain.
In Maoji Town, Tongbai County, Henan Province, Guo Changsong, secretary of the Party branch of Maozhai Village, happily told reporters: "In the past, the price of growing peanuts was not guaranteed, and we had no confidence in it. In the future, with peanut futures, we will feel more confident in growing peanuts." Maoji Town is a traditional peanut planting area, where the common people plant peanuts and keep 17, mu all the year round. The reporter walked into a farmer's house and saw more than 1 bags of peanuts piled on the ground. When the reporter asked the farmer when to sell, the farmer expressed his own voice: "I want to wait until the price is higher." "The peanut planting area in Tongbai County is basically stable at about 34, mu. Based on the advantages of peanut planting, Tongbai County has fully tapped the role of peanuts as' source living water', and peanuts have become the main crop for farmers to increase their income. Peanut planting has always helped the county to get rid of poverty." Chloe Wang, member of the Standing Committee of Tongbai County Committee and deputy county magistrate, said.
The reporter learned in the interview that China's peanut industry chain is mainly divided into three links, namely, upstream planting, midstream trade and processing, downstream sales and terminal consumption.
The main body in the upstream of peanut industrial chain is composed of peanut growers and agricultural cooperatives, mainly engaged in peanut planting, harvesting and drying. The upstream of peanut industrial chain determines the quantity and quality of peanut supply.
The main players in the middle reaches of the peanut industry chain mainly include many peanut traders, peanut processing enterprises and peanut export enterprises. Because the entry threshold of peanut sorting and trade is not high, mainly small and medium-sized traders, traders sort peanuts and then sell them to large and medium-sized peanut processing enterprises or export enterprises.
The downstream main body of the peanut industrial chain is mainly composed of dealers, supermarkets, e-commerce, wholesale markets, farmers' markets and end consumers, and is responsible for the marketing of peanut products. At present, domestic peanut processing enterprises generally enter supermarkets, wholesale markets and farmers' markets through distributors in addition to selling products by themselves.
The market is looking forward to peanut futures.
In p>219, the national peanut output was about 12.15 million tons, with an output value of about 91 billion yuan, and the spot size of peanuts was relatively large. According to the requirements of peanut futures delivery and the bottom-up test data, the qualified rate of peanuts that meet the requirements of futures delivery in natural circulation is 76%, corresponding to the spot size of 9.23 million tons and the output value of 69.23 billion yuan, which is sufficient for delivery and can fully meet the requirements of futures delivery.
"The peanut spot market has a complete warehousing, processing and logistics system, developed infrastructure, many enterprises participating in the market and active trade, which has laid a good foundation for the futures trading and created convenient conditions for the physical delivery in the futures market." The relevant person in charge of Zhengshang Institute pointed out.
It is understood that peanut futures is a new attempt by Zhengshang Institute to serve the real economy, and it is also an important measure for Zhengshang Institute to carry out market innovation. Peanut, as one of the main cash crops, is widely used and occupies an important position in oil pressing and food processing industries. On the one hand, the listing of peanut futures can help farmers and related enterprises achieve stable operation and guide the transformation and upgrading of peanut industry; On the other hand, the listing of peanut futures can expand the scale of agricultural futures, which is conducive to expanding the field of futures market serving the real economy.
peanut spot quotation is discontinuous, with long time interval, low frequency and poor price sensitivity. In addition, the spot price of peanuts is based on the price formed by past transactions, which can not reflect the future market supply and demand situation and price trend, and has a weak guiding role in future production, which is prone to "cobweb effect". From 26 to now, peanuts have experienced two cycles of remarkable ups and downs, and the "cobweb effect" between price and output is remarkable, which has brought great risks and losses to farmers and enterprises.
Price risk is an unavoidable topic for employees in peanut industry. In Zhengyang County, a manager Zhang, who has been engaged in peanut trade for many years, told reporters that the price of peanuts is changeable. Sometimes the price will be quoted three times a day from morning till night. Peanuts are 4 yuan/kg in the morning, 4.5 yuan/kg at noon and 5 yuan/kg at night, which is unpredictable. It is understood that he buys 6 tons of peanuts for large peanut processing enterprises every day, and it can reach 2, tons a year, which bears great price risks.
"Financial instruments are playing an increasingly important role in risk management of entity enterprises, and the listing of peanut futures is bound to accelerate the integration of the industry. Under the new situation, enterprises should fully understand the two functions of price discovery and hedging in the futures market, and hope that the futures market can help enterprises use peanut futures to do enterprise risk management, thus helping enterprises to accurately grasp the future development direction of the industry. " Liu Yepeng, deputy magistrate of Zhengyang County, said.
In Zhengyang County, the planned and soon-to-be-built Zhengyang Antique Commercial Street covers a total area of 72.5 mu, with a total investment of about 5 million yuan. The planned projects include Sinology Cultural Park, Peanut Boutique Hotel, Peanut Food Wenchuang Park and Donglou Road Antique Peanut Commercial Street, which is a large-scale commercial complex integrating Guofeng Research, Peanut Food Wenchuang Park, Boutique Hotel, Ancient Street B&B, Special Catering and Smart Farmers' Trade.
Li Guang Hai, chairman of Zhengyang Xindi Peanut Group, said with confidence: "After the completion of the Peanut World Project, the vision of" trinity ","integration of three industries "and" 1 million "plan of increasing income will finally be realized. When talking about the imminent listing of peanut futures, Li Guanghai immediately stated that enterprises must actively participate. After participating in the futures market, they can use the hedging function of futures to solve the risks of peanut planting. With the guarantee of this financial tool, the company's industrial chain will be more perfect.
Some industry authorities believe that financial instruments are playing an increasingly important role in helping entity enterprises to carry out risk management, and the listing of peanut futures in the future is bound to accelerate the integration of the industry. In addition, the listing of peanut futures is a good thing for the stable development of peanut industry in China. On the one hand, the upstream planter can reasonably adjust the planting structure according to the futures price, and control the peanut sales rhythm. While the middle traders and downstream crushing enterprises reduce the purchase cost and lock in the sales profit through futures tools, they also increase a spot purchase and sale channel. On the other hand, it can lead the transformation and upgrading of agriculture, and realize price fluctuation risk management and spot purchase and sale guarantee through order agriculture and basis purchase.
Qiu Tao, general manager of Yuxin Investment, said that after the listing of peanut futures, with the further development of spot business, the development of peanut warehouse receipt business will make spot peanuts have strong financial attributes, which can well carry out warehouse receipt-related business, which not only ensures the spot price risk management, but also increases the purchase and sale channels, so that enterprises can revitalize spot assets and increase financing.