Buckwheat Listed and Traded on TME
Updated:2014-12-11 From:TianFU MeRcantile Exchange Views: 2429
As Sichuan’s characteristic agricultural product, Tinafu Mercantile Exchange (hereinafter TME) launched its tartary buckwheat on 11 December 2014, and this has filled a blank in China as far as the electronic trading of spot tatary buckwheat is concerned. To celebrate the listing, Yang Bo, vice president of TME, Wang Fengjin, chairman of Chengdu Zhonghuo Yitong Agricultural Science & Technology Limited Company, jointly clanged a gong in honor of the ceremony.
Leading participants are Gao Mingan, chairman of Sichuan Yijia Shanzhai Black Tartary Buckwheat (Group) Co Ltd, Yi Changjin, chairman of Sichuan Ecological Agriculture Development Co Ltd, both predominant enterprises of tartary buckwheat, Li Linlin, chairman of Chengdu Borui Trading Company, and other major traders in this sector as well.
Tartary buckwheat, aslo known as bitter buckwheat, has higher nutritional value than common buckwheat does, especially its content of bioflavonoids is 13.5 times of the latter. And more, tartary buckwheat is a typical representation of medicine & food culture in China. It possesses unique, comprehensive, rich nutrients, excellent medicinal effects, with a variety of nutritional ingredients, all necessary for human bodies, thus is crowned as king of the five cereals (rice, two kinds of millet, wheat and beans) or both refined and coarse grains.
Buckwheat is referred to as Western China’s peculiar agricultural product, its planting area lies in Liangshan, south of Sichuan province, and covers more than a million mu (1 mu equals to 0.0666667 hectare ), with its annual output taking up more than half of the country's, and one-third of the world's total amount.
All aspects concerning resource allocation for the entire industry chain of tartary buckwheat are relatively dispersed in China, and this can be reflected not only from the land resource utilization, production & cultivation, the raw materials acquisition, but also from primary to deep processing, even to the output of all finished product. But a real change is taking place since the listing of tartary buckwheat on TME shortens a period from initial production of the raw materials to the output of the finished products. All this is conducive to helping farmers increase their income and reduce the material cost for the enterprises. And by means of a transformation in the traditional trade mode, the electronic trading of tartary buckwheat on TME contributes to the leading enterprises in terms of further integrating of the industry resources and in the meantime obtaining a wide range of platform services provided by TME.
To target tartary buckwheat, TME currently adopts two transaction modes: one is called is pre-sale mode, and the other spot-sale mode. Under pre-sale mode, a producer may sign a forward contract in advance to lock in the profit following a conceivable output; a consumer may lock up a cost on calculation of the expected demand by signing a long-term contract earlier, a trader may enter into two forward contracts with one for buying while the other for selling purpose in order to maintain a profit spread. In the case of spot-sale mode, which mainly rests on TME’s newly launched spot commodity mall (or spot mall), a dealer with spot cargo in hand is entitled to release sales information through a client exchange terminal or spot mall platform on TME. Once a bidding is made by the buyer and a related confirmation made by the seller, a delivery date and manner of the delivery is subject to the stipulations that both side agree upon.
Leading participants are Gao Mingan, chairman of Sichuan Yijia Shanzhai Black Tartary Buckwheat (Group) Co Ltd, Yi Changjin, chairman of Sichuan Ecological Agriculture Development Co Ltd, both predominant enterprises of tartary buckwheat, Li Linlin, chairman of Chengdu Borui Trading Company, and other major traders in this sector as well.
Tartary buckwheat, aslo known as bitter buckwheat, has higher nutritional value than common buckwheat does, especially its content of bioflavonoids is 13.5 times of the latter. And more, tartary buckwheat is a typical representation of medicine & food culture in China. It possesses unique, comprehensive, rich nutrients, excellent medicinal effects, with a variety of nutritional ingredients, all necessary for human bodies, thus is crowned as king of the five cereals (rice, two kinds of millet, wheat and beans) or both refined and coarse grains.
Buckwheat is referred to as Western China’s peculiar agricultural product, its planting area lies in Liangshan, south of Sichuan province, and covers more than a million mu (1 mu equals to 0.0666667 hectare ), with its annual output taking up more than half of the country's, and one-third of the world's total amount.
All aspects concerning resource allocation for the entire industry chain of tartary buckwheat are relatively dispersed in China, and this can be reflected not only from the land resource utilization, production & cultivation, the raw materials acquisition, but also from primary to deep processing, even to the output of all finished product. But a real change is taking place since the listing of tartary buckwheat on TME shortens a period from initial production of the raw materials to the output of the finished products. All this is conducive to helping farmers increase their income and reduce the material cost for the enterprises. And by means of a transformation in the traditional trade mode, the electronic trading of tartary buckwheat on TME contributes to the leading enterprises in terms of further integrating of the industry resources and in the meantime obtaining a wide range of platform services provided by TME.
To target tartary buckwheat, TME currently adopts two transaction modes: one is called is pre-sale mode, and the other spot-sale mode. Under pre-sale mode, a producer may sign a forward contract in advance to lock in the profit following a conceivable output; a consumer may lock up a cost on calculation of the expected demand by signing a long-term contract earlier, a trader may enter into two forward contracts with one for buying while the other for selling purpose in order to maintain a profit spread. In the case of spot-sale mode, which mainly rests on TME’s newly launched spot commodity mall (or spot mall), a dealer with spot cargo in hand is entitled to release sales information through a client exchange terminal or spot mall platform on TME. Once a bidding is made by the buyer and a related confirmation made by the seller, a delivery date and manner of the delivery is subject to the stipulations that both side agree upon.