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讨论了托市收购政策对农产品期货市场的影响,认为托市收购政策在促进我国粮食生产的同时,也严重扭曲了市场机制,阻碍了市场功能的正常发挥。在托市收购政策下,国家收储了大量粮食,价格波动范围受到严格约束,农业生产经营者面对的市场风险大幅降低,农产品期货市场出现了交易冷清、市场主体大量退出的状况。分析了目标价格改革对农产品期货市场的影响。提出实施目标价格改革后,政府不再入市收购,价格的决定权重回市场,价格波动风险的加大将增加市场主体利用期货市场避险的动力,逐步激活农产品期货市场。同时,期货市场能够利用其规避风险和价格发现功能使目标价格改革进程更为顺畅。
Discussed the impact of the takeover bidding policy on the agricultural futures market, and considered that the takeover bidding policy promoted the grain production in our country at the same time seriously distorted the market mechanism and impeded the normal functioning of the market. Under the Tuobo acquisition policy, the state has collected and stored a large amount of grain and the scope of price fluctuation has been strictly restricted. The market risk faced by agricultural producers and operators has been greatly reduced. The agricultural futures market has witnessed a sluggish transaction and a substantial withdrawal of market players. Analyzes the impact of the target price reform on the agricultural futures market. Put forward the implementation of the target price reform, the government will no longer enter the market acquisition, the price decision right back to the market, the risk of price volatility will increase market participants use the hedge futures market dynamics, and gradually activate the agricultural futures market. At the same time, the futures market can use its risk aversion and price discovery capabilities to make the target price reform process smoother.