Importance of public warehouse system for financing agribusiness sector

Abstract

The aim of this study was to determine the economic viability of the use of warehouse receipts for the storage of wheat and corn, based on the analysis of trends in product prices, storage costs in public warehouses and interest rate of loans against warehouse receipts. Agricultural producers are urged to sell grain at the harvest time when the price of agricultural products is usually lowest, mostly because of their needs for financial sources. Instead of selling products, farmers can store them in the public warehouses and use short-time financing by lending against warehouse receipt with usually lowest interest rate. In following months, farmers can sell products at higher price and repay short-term loan. This study showed that strategy of using public warehouses and postponing the sale of grains after harvest is profitable strategy for agricultural producers.

Cilj ovog rada je da se utvrdi ekonomska isplatljivost korišćenja javnih skladišta za skladištenje pšenice i kukuruza na osnovu analize kretanja cena proizvoda, troškova skladištenja i kamatne stope na kredite koji kao zalogu imaju robni zapis. Poljoprivredni proizvođači su usled potreba za finansijskim sredstvima često primorani da prodaju žitarice odmah nakon žetve kada je cena po pravilu najniža. Umesto prodaje, poljoprivrednici mogu uskladištiti proizvod u javnim skladištima i koristiti robni zapis kao obezbeđenje za kratkoročni kredit koji često ima nisku kamatnu stopu. U mesecima nakon žetve poljoprivrednik prodaje robu po višoj ceni i vraća kredit. Ovaj rad je ukazao na profitabilnost strategije skladištenja robe u javim skladištima i odlaganje prodaje proizvoda za period nakon žetve.