WorldWideScience

Sample records for trade commodity review-metals

  1. The Principles and the Specifics of Trading in Commodities

    Science.gov (United States)

    Baran, Dušan; Herbacsková, Anita

    2012-12-01

    In the present period of instability on financial markets, investments in commodities are the solution for elimination of the consequences of inflation and ensure the yield. When investing in commodities, the use of specifics of commodities compared to other assets. The distribution of commodities we can interpret for agricultural commodities, commodities of energy, precious and other metals, and weather. Therefore, in the framework of the investment portfolio are the commodities. This is the reason why one of the most popular types of investment assets now become commodities. In the interpretation of particular commodities we talk about commodity futures. The reason is that the spot market with commodities is limited storage facilities. The growth of the popularity, which allows a wide range of commodities, has caused that in addition to from institutional investors and speculators for trade may involve even small investors. This development will be supplemented by interpretation of the charts and figers, which will be commented and used for generalization of knowledge. Finally, the article will be interpreted by the further development of the market for commodities as it by article assumes from the results of research.

  2. 17 CFR 4.14 - Exemption from registration as a commodity trading advisor.

    Science.gov (United States)

    2010-04-01

    ... a commodity trading advisor. 4.14 Section 4.14 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION COMMODITY POOL OPERATORS AND COMMODITY TRADING ADVISORS General Provisions, Definitions and Exemptions § 4.14 Exemption from registration as a commodity trading advisor. This section is...

  3. Multinetwork of international trade: A commodity-specific analysis

    Science.gov (United States)

    Barigozzi, Matteo; Fagiolo, Giorgio; Garlaschelli, Diego

    2010-04-01

    We study the topological properties of the multinetwork of commodity-specific trade relations among world countries over the 1992-2003 period, comparing them with those of the aggregate-trade network, known in the literature as the international-trade network (ITN). We show that link-weight distributions of commodity-specific networks are extremely heterogeneous and (quasi) log normality of aggregate link-weight distribution is generated as a sheer outcome of aggregation. Commodity-specific networks also display average connectivity, clustering, and centrality levels very different from their aggregate counterpart. We also find that ITN complete connectivity is mainly achieved through the presence of many weak links that keep commodity-specific networks together and that the correlation structure existing between topological statistics within each single network is fairly robust and mimics that of the aggregate network. Finally, we employ cross-commodity correlations between link weights to build hierarchies of commodities. Our results suggest that on the top of a relatively time-invariant “intrinsic” taxonomy (based on inherent between-commodity similarities), the roles played by different commodities in the ITN have become more and more dissimilar, possibly as the result of an increased trade specialization. Our approach is general and can be used to characterize any multinetwork emerging as a nontrivial aggregation of several interdependent layers.

  4. 17 CFR 37.4 - Election to trade excluded and exempt commodities.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Election to trade excluded and exempt commodities. 37.4 Section 37.4 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION DERIVATIVES TRANSACTION EXECUTION FACILITIES § 37.4 Election to trade excluded and exempt...

  5. Managing the risks of disease transmission through trade: a commodities-based approach?

    Science.gov (United States)

    Brückner, G K

    2011-04-01

    Since its founding in 1924, the World Organisation for Animal Health (OIE) has facilitated safe trade in animals and animal products by developing effective standards to prevent the spread of animal diseases across the globe. A protocol for recognising the disease-free status of countries is an integral part of this process and has been adopted and advanced through the years to assist OIE Member Countries in placing disease-free animals and their products on the international market. Options such as trade from disease-free zones and disease-free compartments are now available to Members and have proven to be a positive mechanism for facilitating trade. A further option is trading in safe commodities, i.e. animals and animal products that have been identified as safe to trade even in the presence of disease, either with or without applying risk mitigation measures before export. Although most Members have incorporated the acceptance of disease-free countries or zones into their animal health policies and sanitary measures, there still appears to be a reluctance to trade in commodities from infected countries, despite clear, scientifically based risk management standards that can be applied if needed. This paper offers some examples reflecting the apparent reluctance to trade in commodities and discusses how the standards in the OIE's Terrestrial Animal Health Code could be used to apply scientifically based risk management practices to review outdated policies.

  6. Regulations in the commodity trading sector: should the commodity trading industry in Switzerland be more regulated and, if so, how ?

    OpenAIRE

    Volchkov, Nikola; Lewis, Brian

    2017-01-01

    Commodity trading is a sector which is essential to our development and prosperity as well as economic growth. It is relatively unknown and perceived differently depending on the viewpoint of the observer. Many think of the exploitation of resources in resource rich countries, others only of the transport of goods from producers to consumers and others focus on “speculation” and its association with financial markets which can create risk. Given the importance of commodity trading across the ...

  7. Trade tensions between EU and Russia: Possible effects on trade in agricultural commodities for Visegrad countries

    NARCIS (Netherlands)

    Erokhin, V.; Heijman, W.J.M.; Ivolga, A.

    2014-01-01

    The paper includes overview of the current state of the EU-CIS and the EU-Russia trade flows with particular attention to trade in agricultural commodities, as well as contemporary tendencies in agricultural production and foreign trade in agricultural commodities and food in Russia. The paper

  8. Dynamics of a durable commodity market involving trade at disequilibrium

    Science.gov (United States)

    Panchuk, A.; Puu, T.

    2018-05-01

    The present work considers a simple model of a durable commodity market involving two agents who trade stocks of two different types. Stock commodities, in contrast to flow commodities, remain on the market from period to period and, consequently, there is neither unique demand function nor unique supply function exists. We also set up exact conditions for trade at disequilibrium, the issue being usually neglected, though a fact of reality. The induced iterative system has infinite number of fixed points and path dependent dynamics. We show that a typical orbit is either attracted to one of the fixed points or eventually sticks at a no-trade point. For the latter the stock distribution always remains the same while the price displays periodic or chaotic oscillations.

  9. Commodities Trading: An Essential Economic Tool.

    Science.gov (United States)

    Welch, Mary A., Ed.

    1989-01-01

    This issue focuses on commodities trading as an essential economic tool. Activities include critical thinking about marketing decisions and discussion on how futures markets and options are used as important economic tools. Discussion questions and a special student project are included. (EH)

  10. Analysis of physical flows in primary commodity trade. A case study in China

    International Nuclear Information System (INIS)

    Ma, Tao; Li, Bo; Fang, Changming; Zhao, Bin; Luo, Yiqi; Chen, Jiakuan

    2006-01-01

    How globalization and international trade affect sustainable development and environment has attracted worldwide attention. Associated with the import and export of primary commodities, ecologically important materials have been exchanged among regions and countries. China, having the largest population in the world and the highest economic growth rate in last decades, may have an important influence on global sustainable development through the trade of primary commodities. Using the data from Almanac of China's Foreign Economic Relations and Trade, we analyzed material flows in the trade of primary commodity in China from 1950 to 2001. Our analysis shows that: (1) China has turned from a net exporter of primary commodities to a net importer; (2) minerals and fuels have been the major imports of primary commodities since 1992, just as well as foods and minerals did in 1980s; (3) most of the net imported primary commodities come from Oceania, Africa and Latin America. (author)

  11. Tips for Organizing an Educational Agricultural Commodity Trading Club

    Science.gov (United States)

    Yost, John

    2011-01-01

    Educational commodity marketing clubs have been an effective tool for producers to develop their grain and livestock marketing skills. These groups are further enhanced when the participants engage in "actual trading" versus "paper trading" techniques. When a club chooses to try actual trading, it becomes more complicated than pooling monies…

  12. IMPACTS OF AFRICA'S TOTAL AND COMMODITY-BASED TRADE WITH CHINA AND OECD COUNTRIES

    Directory of Open Access Journals (Sweden)

    Nihal Bayraktar

    2017-02-01

    Full Text Available This paper studies the changes in the pattern of Africa’s trade with China and OECD countries, and the impacts of these changes on sub-Saharan Africa’s economic growth. In the study, the country-level total exports and imports, as well as the commodity-based exports and imports are considered for 42 sub-Saharan African countries between 1980 and 2014. The results show that as the share of China in sub-Saharan Africa’s trade has significantly increased, a declining trend is observed for OECD countries, traditional trading partners. Despite changing trade links, the investigation of the commodity-based exports and imports indicate that the types of imported and exported commodities have not changed much for Africa. However, a strong link is observed between economic growth in SSA and its changing trade links from the OECD countries towards China at the total level as well as at the commodity level. The study concludes that there is an increase in the international competition for Africa’s commodities, and resulting in improvements in the terms of trade has led to higher income growth in the region.

  13. Modeling Multi-commodity Trade Information Exchange Methods

    CERN Document Server

    Traczyk, Tomasz

    2012-01-01

    Market mechanisms are entering into new fields of economy, in which some constraints of physical world, e.g. Kirchoffs Law in power grid, must be taken into account during trading. On such markets, some of commodities, like telecommunication bandwidth or electrical energy, appear to be non-storable, and must be exchanged in real-time. On the other hand, the markets tend to react at shortest possible time, so an idea to delegate some competency to autonomous software agents is very attractive. Multi-commodity mechanism addresses the aforementioned requirements. Modeling the relationships between the commodities allows to formulate new, more sophisticated models and mechanisms, which reflect decision situations in a better manner. Application of multi-commodity approach requires solving several issues related to data modeling, communication, semantics aspects of communication, reliability, etc. This book answers some of the questions and points out promising paths for implementation and development. Presented s...

  14. The Impact of Trade Policies on Spiraling Prices in International Agricultural Commodity Markets

    Directory of Open Access Journals (Sweden)

    Agnes Ghibuțiu

    2011-07-01

    Full Text Available Since the mid-2000s food prices have been on an upward trend. In the first months of 2011, agricultural commodity prices reached an all-time high, fuelling fears about the imminent outbreak of a new food crisis, similar to the 1973/74 and 2006/08 ones. Behind concerns about increased price levels and volatility in international agricultural commodity markets lie concerns about food security. Hence, the international community is now under pressure to urgently find solutions for tempering strong upward fluctuations in prices for many major food commodities. Trade policy changes are increasingly discussed as a major contributing factor to food price surges. This paper addresses some issues related to the recurrent global food crises from the perspective of trade policy, specifically export restrictions. After a brief review of the fundamental drivers of the upward trend in real food prices (rising global population and income, climate change, high oil prices, increasing cereal use for biofuel production, and financial speculation, it examines the upsurge in agricultural export restrictions over the recent years. Relying on WTO's trade policy monitoring exercise, it highlights typology, motivations and effects of the newly introduced export restrictions, and finds that a major factor behind their recent proliferation is the lack of effective and binding multilateral rules concerning these trade policy instruments. The paper argues that strenghtening and improving WTO's rules and disciplines is essential for mitigating increased price pressure and volatility as well as the associated food security risks. While the issue of export restrictions is currently the topic of discussions under the Doha Round, trade negotiations are in impasse since 2008. Hence, urgent and successful conclusion of the round would be an essential step. In the meanwhile, a closer regular monitoring of all forms of export restrictions would help to provide at least more

  15. A Study on Market Efficiency of Selected Commodity Derivatives Traded on NCDEX During 2011

    Science.gov (United States)

    Sajipriya, N.

    2012-10-01

    The study aims at testing the weak form of Efficient Market Hypothesis in the context of an emerging commodity market - National Commodity Derivatives Exchange (NCDEX), which is considered as the prime commodity derivatives market in India. The study considered daily spot and futures prices of five selected commodities traded on NCDEX over 12 month period (the futures contracts originating and expiring during the period January 2011 to December 2011) The five commodities chosen are Pepper, Crude palm Oil, steel silver and Chana as they account for almost two-thirds of the value of agricultural commodity derivatives traded on NCDEX. The results of Run test indicate that both spot and futures prices are weak form efficient

  16. UNCTAD commodity yearbook 1990

    International Nuclear Information System (INIS)

    1990-01-01

    The Commodity Yearbook is intended to provide disaggregated data at the world, regional and country levels for trade and consumption in selected agricultural primary commodities and minerals, ores and metals. Production series have been included for the latter group of commodities, since comprehensive diaggregated data are unavailable elsewhere. Basic tables have been designed, from both the commodity and the country point of view, to serve as background material to international commodity discussions and negotiations in the United Nations Conference on Trade and Development. The classification of countries and territories by region has been adopted for statistical convenience only, and follows that employed by the Statistical Office of the United Nations. Four main regions are defined: Developed market economy countries, Countries of Eastern Europe, Socialist countries of Asia and Developing countries and territories. For developed and developing countries and territories, the main regions have been further subdivided (e.g., EEC, EFTA, Africa, etc.) to provide additional information. The exact composition of each region is shown in section V of the general notes

  17. Insect pollination: commodity values, trade and policy considerations using coffee as an example

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    Vernon George Thomas

    2012-04-01

    Full Text Available Science has shown the importance of animal pollinators to human food security, economy, and biodiversity conservation. Science continues to identify various factors causing pollinator declines and their implications. However, translation of the understanding of pollinators’ roles into current policy and regulation is weak and requires attention, both in developed and developing nations. The national and international trade of commodities generated via insect pollination is large. Trade in those crops could be a means of influencing regulations to promote the local existence of pollinating species, apart from their contributions to biodiversity conservation. This paper, using the example of international coffee production, reviews the value of pollinating species, and relates them to simple economics of commodity production. Recommendations are made that could influence policy and decision-making to promote coffee production, trade, and pollinators’ existence. Assumptions and considerations are raised and addressed. Although the role of insect pollinators in promoting fruit set and quality is accepted, implementing pollination conservation in forest habitats may require assured higher prices for coffee, and direct subsidies for forest conservation to prevent conversion to other crop lands. Exporting and importing governments and trade organizations could establish policy that requires insect pollination in the coffee certification process. The European Parliament and the North American Free Trade Agreement could be instrumental in creating policy and regulation that promotes insect pollination services in coffee production. The reciprocity between the services of insect pollinators in certified coffee production and their services in forest biodiversity production should be implicit in future policy negotiations to enhance both systems.

  18. Brokers and brokerage in the process of trading in commodity futures markets

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    Eremić Milan B.

    2003-01-01

    Full Text Available This paper mainly deals with the analysis of a very complex process of brokerage in commodity futures markets. Unlike a classical commodity market in which brokers are not a necessity, sales and purchases in commodity futures markets cannot be carried out without brokers. Brokers who act as agents of buyers and sellers of futures are a necessary condition for trading in organized markets, such as commodity futures markets. The structure of brokers in futures trading is multilayer and involves participants in futures trading from floor brokers, immediate futures traders and the members of clearing and the clearing house itself, on the one hand, to numerous other necessary actors whose activities out of the stock exchange and the clearing house contribute to the efficient functioning of futures market. The fact that transactions between buyers and sellers in futures markets are not carried out directly but through brokers means that the obligations of buyers and sellers are formally conveyed to brokers, providing at the same time the guarantee by the broker that the actual buyer and the actual seller will fulfill their contractual obligations. At the very beginning of futures trading, the relationship between the seller and the buyer is transformed into a relationship between two brokers. Since that moment on, the original relationship is conveyed to higher levels of brokerage reaching the level of the clearing house. In the process of transformation of the buyer-seller relationship and transmitting obligations and guaranteeing their fulfillment, the clearing house itself becomes the buyer relative to all sellers and the seller relative to all buyers. In this way, it guarantees that obligations regarding all transactions in futures market will be fulfilled. The whole process is carried out in accordance with the prescribed procedures conducted on the floor of commodity exchange, in its administrative departments and in the clearing house itself.

  19. Influence of market factors on the pricing of exchange traded metals in the medium term

    Science.gov (United States)

    Bogdanov, S. V.; Shevelev, I. M.; Chernyi, S. A.

    2017-06-01

    On the basis of comparison of the influence of the stock exchange factors on the pricing of nonferrous metals for medium term with similar results for short term, it has been established that the main attention should be paid to the changes in the pricing environment on the metal market as a function of the prices of exchange traded metals. The situation on the market of energy carriers (hydrocarbons) and the European, American, and Asian stock exchanges can be based on parity and even significantly influence the variation of the metal prices. In the medium term, constructive development of metal trade should be reasonably promoted by changing the elasticity of supply with regard to prices for exchange traded metals and by applying the stock exchange factors that positively influence the pricing on commodity and stock markets.

  20. The Role of Exchange Rates in Korea’s Commodity Trade with China

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    Gab-Je Jo

    2010-12-01

    Full Text Available In this paper I investigate the link between Korea's trade balance and the exchange rate, using both aggregated and disaggregated data. Employing the bounds testing approach to cointegration, and error-correction modeling, when I use the aggregate trade balance as a dependent variable, I find no support for the J-curve in the short-run; and also find that in the long-run, the exchange rate had a significant positive impact on the trade balance. However, in both the short and the long-run, I find that the exchange rate does not play a significant role in deterIn this paper I investigate the link between Korea's trade balance and the exchange rate, using both aggregated and disaggregated data. Employing the bounds testing approach to cointegration, and error-correction modeling, when I use the aggregate trade balance as a dependent variable, I find no support for the J-curve in the short-run; and also find that in the long-run, the exchange rate had a significant positive impact on the trade balance. However, in both the short and the long-run, I find that the exchange rate does not play a significant role in determining the bilateral trade balance between Korea and China, nor does it improve the disaggregated trade balance. This is because the exchange rate elasticity of the trade balance depends on the nature of the commodity. Especially if the commodity is an intermediate good or a raw material, the exchange rate elasticity in trade balance could be inelastic because the demand for the intermediate good is a derived demand from the final good.

  1. Trade in water and commodities as adaptations to global change

    Science.gov (United States)

    Lammers, R. B.; Hertel, T. W.; Prousevitch, A.; Baldos, U. L. C.; Frolking, S. E.; Liu, J.; Grogan, D. S.

    2015-12-01

    The human capacity for altering the water cycle has been well documented and given the expected change due to population, income growth, biofuels, climate, and associated land use change, there remains great uncertainty in both the degree of increased pressure on land and water resources and in our ability to adapt to these changes. Alleviating regional shortages in water supply can be carried out in a spatial hierarchy through i) direct trade of water between all regions, ii) development of infrastructure to improve water availability within regions (e.g. impounding rivers), iii) via inter-basin hydrological transfer between neighboring regions and, iv) via virtual water trade. These adaptation strategies can be managed via market trade in water and commodities to identify those strategies most likely to be adopted. This work combines the physically-based University of New Hampshire Water Balance Model (WBM) with the macro-scale Purdue University Simplified International Model of agricultural Prices Land use and the Environment (SIMPLE) to explore the interaction of supply and demand for fresh water globally. In this work we use a newly developed grid cell-based version of SIMPLE to achieve a more direct connection between the two modeling paradigms of physically-based models with optimization-driven approaches characteristic of economic models. We explore questions related to the global and regional impact of water scarcity and water surplus on the ability of regions to adapt to future change. Allowing for a variety of adaptation strategies such as direct trade of water and expanding the built water infrastructure, as well as indirect trade in commodities, will reduce overall global water stress and, in some regions, significantly reduce their vulnerability to these future changes.

  2. Assessment of the safety of aquatic animal commodities for international trade: the OIE Aquatic Animal Health code.

    Science.gov (United States)

    Oidtmann, B; Johnston, C; Klotins, K; Mylrea, G; Van, P T; Cabot, S; Martin, P Rosado; Ababouch, L; Berthe, F

    2013-02-01

    Trading of aquatic animals and aquatic animal products has become increasingly globalized during the last couple of decades. This commodity trade has increased the risk for the spread of aquatic animal pathogens. The World Organisation for Animal Health (OIE) is recognized as the international standard-setting organization for measures relating to international trade in animals and animal products. In this role, OIE has developed the Aquatic Animal Health Code, which provides health measures to be used by competent authorities of importing and exporting countries to avoid the transfer of agents pathogenic for animals or humans, whilst avoiding unjustified sanitary barriers. An OIE ad hoc group developed criteria for assessing the safety of aquatic animals or aquatic animal products for any purpose from a country, zone or compartment not declared free from a given disease 'X'. The criteria were based on the absence of the pathogenic agent in the traded commodity or inactivation of the pathogenic agent by the commercial processing used to produce the commodity. The group also developed criteria to assess the safety of aquatic animals or aquatic animal products for retail trade for human consumption from potentially infected areas. Such commodities were assessed considering the form and presentation of the product, the expected volume of waste tissues generated by the consumer and the likely presence of viable pathogenic agent in the waste. The ad hoc group applied the criteria to commodities listed in the individual disease chapters of the Aquatic Animal Health Code (2008 edition). Revised lists of commodities for which no additional measures should be required by the importing countries regardless of the status for disease X of the exporting country were developed and adopted by the OIE World Assembly of Delegates in May 2011. The rationale of the criteria and their application will be explained and demonstrated using examples. © 2012 Crown Copyright. Reproduced

  3. Terms of trade effects on PPP and incomes of primary-commodity exporting countries

    OpenAIRE

    Koya, Sharmistha N.

    1994-01-01

    This dissertation investigates the commodity currency argument of primary and secondary effects of the terms of trade on exchange rates and real income, respectively. The Johansen procedure of cointegration testing is applied to dynamic models for a set of four developed countries (New Zealand, Australia, Norway and Iceland) and five less developed countries (Colombia, India, Malaysia, Thailand and Venezuela) each against it's major trading partner and the United States. The ...

  4. Commodities and Switzerland: Development Policy Challenges and Policy Options

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    Werner Thut

    2013-09-01

    Full Text Available EDITOR’S NOTEThis paper, written in December 2012, is a contribution to the ‘Policy Debate’ section of the International Development Policy. In this section, academics, policy makers and practitioners engage in a dialogue on global development challenges. Papers are copy-edited but not peer-reviewed. Instead, an initial thematic contribution is followed by critical comments and reactions from different stakeholders. This paper by Werner Thut is followed by reactions and analysis from a non-profit policy institute (Alexandra Gillies, Revenue Watch Institute, New York, ‘Crafting a Strategic Response to the Commodity-Development Conundrum’, a Southern scholar (Prof. Humberto Campodonico, Universidad Nacional Mayor de San Marcos, Lima ‘Going Beyond Transparency and Good Governance’ | ‘Más allá de la transparencia y una buena gobernanza’ and a representative of the trading sector (Stéphane Graber, Secretary General of Geneva Trading & Shipping Association – ‘Reassessing the Merchants’ Role in a Globalized Economy’.PAPER’S ABSTRACTSwitzerland is one of the world’s largest commodity trading hub. The author, senior policy adviser at the Swiss Agency for Development and Cooperation (SDC, reviews experiences and policy options related to commodity trading from a development policy perspective. While this sector has become of strategic importance to Switzerland’s economy, it also entails a number of risks. On the other hand, Swiss development cooperation efforts focus on several resource-rich countries, whose mineral and agricultural commodities are traded via Switzerland. How can Switzerland assist these countries to reap the benefits of their natural resource wealth? This paper looks at development policy aspects of commodity trading in relation to Swiss foreign and domestic policy. It examines ongoing policy debates in Switzerland and discusses development policy options.

  5. Qualitative assessment of the commodity risk for spread of foot-and-mouth disease associated with international trade in deboned beef.

    Science.gov (United States)

    Paton, D J; Sinclair, M; Rodríguez, R

    2010-06-01

    The risk of importing foot-and-mouth disease virus (FMDV) restricts trade in livestock and their products from parts of the world where the virus is present. This reduces trade opportunities and investment in the livestock sector of many developing countries and constrains global food supply. This review focuses on the risks associated with trade in deboned beef (DB) from foot-and-mouth disease (FMD)-infected cattle, countries or zones. A definition of DB is provided along with a description of the procedures for its preparation within beef slaughtering operations. Evidence is reviewed for circumstances under which DB can be contaminated with FMDV, and a commodity risk factor approach is used to consider the mitigating efficacy of slaughterhouse procedures. A combination of pre-slaughter and slaughterhouse measures has enabled DB to be safely imported into FMD-free countries from countries that were not nationally or zonally FMD-free. Nevertheless, current evidence does not provide absolute assurance that abattoir procedures for producing DB can result, by themselves, in a commodity with a negligible risk of transmitting FMDV without complementary measures to reduce the likelihood of slaughtering infected cattle. The main areas of uncertainty are the amounts of residual FMDV-harbouring tissues within DB, and our understanding of what constitutes a safe level of contamination. More detailed guidance should be developed to specify the mitigating measures needed in support of the export of DB from regions that are not officially FMD-free. This will help to avoid differences in interpretation of what is needed that give rise to obstacles to trade.

  6. The impacts of the global economic crisis on selected segments of the world trade in commodities

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    Elena Horská

    2012-01-01

    Full Text Available This paper deals with the impacts of the economic crisis on the world trade in order to highlight the mutual interdependence of the development of the world output and trade. The paper observes mutual correlation in development of the world trade and output. The results of the analysis indicate that changes in the value of world GDP and world trade are correlated by more than 90%. It is important to mention that in the years 2000–2009, the value of world trade and world output increased significantly (although in 2009, a significant decline in both value and volume of global production and trade was recorded due to the crisis. In relation to the world trade, it should be noted that its commodity structure is dominated by trade in manufactures. The crisis that occurred in the period 2008–2009 greatly affected the world economy and trade in particular. In this respect it should be pointed out that the crisis mainly affected trade in manufactures and then trade in fuels and mining outputs in terms of both absolute and relative indicators. Agrarian trade dealt with the crisis the best and the impact of the crisis on development of its values and volume was the least significant. This verifies the fact that agrarian and food products tend to be the most resistant to the crisis (on contrary, in times of global economic growth or reconstruction, the trade in agrarian and food products shows lower degree of elasticity in relation to the global GDP growth in comparison to other segments of commodities trade.

  7. Statistical microeconomics and commodity prices: theory and empirical results.

    Science.gov (United States)

    Baaquie, Belal E

    2016-01-13

    A review is made of the statistical generalization of microeconomics by Baaquie (Baaquie 2013 Phys. A 392, 4400-4416. (doi:10.1016/j.physa.2013.05.008)), where the market price of every traded commodity, at each instant of time, is considered to be an independent random variable. The dynamics of commodity market prices is given by the unequal time correlation function and is modelled by the Feynman path integral based on an action functional. The correlation functions of the model are defined using the path integral. The existence of the action functional for commodity prices that was postulated to exist in Baaquie (Baaquie 2013 Phys. A 392, 4400-4416. (doi:10.1016/j.physa.2013.05.008)) has been empirically ascertained in Baaquie et al. (Baaquie et al. 2015 Phys. A 428, 19-37. (doi:10.1016/j.physa.2015.02.030)). The model's action functionals for different commodities has been empirically determined and calibrated using the unequal time correlation functions of the market commodity prices using a perturbation expansion (Baaquie et al. 2015 Phys. A 428, 19-37. (doi:10.1016/j.physa.2015.02.030)). Nine commodities drawn from the energy, metal and grain sectors are empirically studied and their auto-correlation for up to 300 days is described by the model to an accuracy of R(2)>0.90-using only six parameters. © 2015 The Author(s).

  8. Trends and prospects of international major commodity prices

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    Maria Cartas

    2013-04-01

    Full Text Available Trends and prospects of international major commodity prices. In 2012, the international commodity markets have seen declining prices, especially during the first half of the year, with some improvement mainly in the last quarter. On the whole, most of major commodity prices declined, following generally weaker demand and the uncertain global economic situation. The short term outlook shows broad declines of prices for all major commodity groups, including oil and excepting metal prices, which are expected to be sustained by the global economic recovery and increasing demand, mainly in China. This country represents a major player, with a great contribution to the movement of prices on most of international commodity markets, as she has a great role in the world consumption and trade of commodities, as well as in the world production of some of these goods, on the one hand, and enjoys huge financial resources, on the other.

  9. A study on the systematization of commodity classification

    International Nuclear Information System (INIS)

    Tae, Jae Woong; Shin, Dong Hoon

    2012-01-01

    International community is trying to prevent the spread of WMD (Weapons of Mass Destruction), especially nuclear weapons. These efforts result in the declaration of UNSC Resolution 1540 in 2004, which made export controls the international norms for all nations in the world. Korea enacted Foreign Trade Act in 1989 to adhere to the export control standards worldwide. Export control system in Korea consists of commodity classification system and export license system. The commodity classification system is used to identify strategic commodity. The Export License system is used to verify that exports have met the conditions required by the international export control system. NSG guidelines, the NSG handbook and Public Notice on Trade of Strategic Items are used to classify items and technology However, some items or technology in NSG guidelines should be especially designed or prepared (EDP). It is difficult to determine which items or technology is strategic commodity because EDP criteria are qualitative. NSG or participant states don't provide clear criteria to classify items and technology but recommend establishing standards autonomously. Hence the result of deliberation on the same items and technology may be different by reviewer's experience, knowledge and governmental policy. It causes confusion of reviewers and export companies In this research, commodity classification systematization by EDP criteria's clarification was performed to increase consistency and efficiency

  10. Agrarian foreign trade of the Czech Republic in the period of 2004–2008, competitiveness of commodities

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    Jaroslava Burianová

    2011-01-01

    Full Text Available The paper deals with agrarian foreign trade (AFT of the Czech Republic during the period of 2004–2008. Distinct changes in the trade volume, but also changes in the net export structure were observed. The export is being assisted with a much larger trading area without customs restrictions but it is also exposed to a much tougher competition. A methodology that makes it possible to evaluate the competitiveness of individual commodities is described in the first part. A sequence of individual items from a total list of basic food goods was analyzed using chosen indicators – Balass indicator RCA (Revealed Comparative Advantage as well as the Michaely index MI that shows a specific degree of specialization for export. In the Results section, attention is firstly focused on the year 2004. The values of export and import for 24 items of basic food commodities are summarised, and the most important items in respect of the share in total export are selected. Analogical output was acquired for the year 2008. The values of RCA and MI indicators are then itemised, and a sequence is determined for the highest values for the commodities able to compete that shows the specific degree of specialization for export.

  11. Cointegration and error correction modelling of agricultural commodity trade: The case of ASEAN agricultural exports to the EU

    Directory of Open Access Journals (Sweden)

    J. NIEMI

    2008-12-01

    Full Text Available The objecti e of this study is to increase our understanding of the specification and estimation of agricultural commodity trade models as well as to provide instruments for trade policy analysis. More specifically,the aim is to build a set of dynamic,theory-based econometric models which are able to capture both short-run and long-run effects of income and price changes,and which can be used for prediction and policy simulation under alternati e assumed conditions.A relati ely unrestricted,data determined,econometric modelling approach based on the error correction mechanism is used,in order to emphasise the importance of dynamics of trade functions.Econometric models are constructed for se en agricultural commodities –cassa a,cocoa,coconut oil,palm oil,pepper, rubber,and tea –exported from the Association of Southeast Asian Nations (ASEANto the European Union (EU.With the aim of providing broad commodity co erage,the intent is to explore whether the chosen modelling approach is able to catch the essentials of the behavioural relationships underlying the specialised nature of each commodity market. The import demand analysis of the study examines two key features:(1the response of EU ’s agricultural commodity imports to income and price changes,and (2the length of time required for this response to occur.The estimations of the export demand relationships provide tests whether the exporters ’ market shares are influenced by the le el of relati e export price,and whether exports are affected by ariations in the rate of growth of imports.The export supply analysis examines the relati e influence of real price and some non-price factors in stimulating the supply of exports.The lag distribution (the shape and length of the lagis found to be ery critical in export supply relationships,since the effects of price changes usually take a long time to work themselves through and since the transmission of the price effects can be complex.The set of

  12. Overview of flow studies for recycling metal commodities in the United States

    Science.gov (United States)

    Sibley, Scott F.

    2011-01-01

    Metal supply consists of primary material from a mining operation and secondary material, which is composed of new and old scrap. Recycling, which is the use of secondary material, can contribute significantly to metal production, sometimes accounting for more than 50 percent of raw material supply. From 2001 to 2011, U.S. Geological Survey (USGS) scientists studied 26 metals to ascertain the status and magnitude of their recycling industries. The results were published in chapters A-Z of USGS Circular 1196, entitled, "Flow Studies for Recycling Metal Commodities in the United States." These metals were aluminum (chapter W), antimony (Q), beryllium (P), cadmium (O), chromium (C), cobalt (M), columbium (niobium) (I), copper (X), germanium (V), gold (A), iron and steel (G), lead (F), magnesium (E), manganese (H), mercury (U), molybdenum (L), nickel (Z), platinum (B), selenium (T), silver (N), tantalum (J), tin (K), titanium (Y), tungsten (R), vanadium (S), and zinc (D). Each metal commodity was assigned to a single year: chapters A-M have recycling data for 1998; chapters N-R and U-W have data for 2000, and chapters S, T, and X-Z have data for 2004. This 27th chapter of Circular 1196 is called AA; it includes salient data from each study described in chapters A-Z, along with an analysis of overall trends of metals recycling in the United States during 1998 through 2004 and additional up-to-date reviews of selected metal recycling industries from 1991 through 2008. In the United States for these metals in 1998, 2000, and 2004 (each metal commodity assigned to a single year), 84 million metric tons (Mt) of old scrap was generated. Unrecovered old scrap totaled 43 Mt (about 51 percent of old scrap generated, OSG), old scrap consumed was 38 Mt (about 45 percent of OSG), and net old scrap exports were 3.3 Mt (about 4 percent of OSG). Therefore, there was significant potential for increased recovery from scrap. The total old scrap supply was 88 Mt, and the overall new

  13. 17 CFR 33.10 - Fraud in connection with commodity option transactions.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Fraud in connection with commodity option transactions. 33.10 Section 33.10 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION REGULATION OF DOMESTIC EXCHANGE-TRADED COMMODITY OPTION TRANSACTIONS § 33.10 Fraud in...

  14. Commodity risk management

    Directory of Open Access Journals (Sweden)

    Hilary Till

    2016-09-01

    Full Text Available This article discusses the practical issues involved in applying a disciplined risk management methodology to commodity futures trading. Accordingly, the paper shows how to apply methodologies derived from both conventional asset management and hedge fund management to futures trading. The article also discusses some of the risk management issues that are unique to leveraged futures trading.

  15. Natural Resources Management: The Effect of the Commodity Boom on Indonesia’s Industrial Development and Welfare

    Directory of Open Access Journals (Sweden)

    Maria Monica Wihardja

    2016-03-01

    Full Text Available The end of the commodity boom in 2012 once again exposed Indonesia to the vulnerability of the commodity price shocks. This article reviews how Indonesia managed its natural resources in 2001–12 and when the commodity boom ends. What are the lessons learned? Indonesia’s experience is similar to that of other countries rich in natural resources, including the crowding-out of non-commodity sectors, protectionist trade regimes, fiscal inefficiency, slow skill accumulation, rising inequality and environmental damages. In the aftermath of the global financial crisis of 2008–09, the early trade -policy response at the end of the commodity boom is inward-looking and protective of domestic markets and industries and aims to increase the added value of commodities by downstreaming. This trend is clearly reflected in the 2014 Trade Law, the 2014 Industry Law and the mineral export ban, which was introduced in 2009 through the 2009 Law on Mining of Coal and Minerals and took effect in 2014. Indonesia should learn from other countries in managing its resource revenues, such as through a commodity fund designed to fit its domestic specificity. Reindustrializing, increasing agricultural productivity beyond palm oil and tapping the country’s potential in the services sector including tourism and creative industries are also necessary to promote diversification in production and trade. Resource management policy should also include stronger environmental regulations.

  16. Russian – Chinese Trade and Exchange Rate

    Directory of Open Access Journals (Sweden)

    Dmitry Alexandrovich Izotov

    2012-09-01

    Full Text Available The author assesses the impact of the Yuan exchange rate volatility on the indicators of the Russian-Chinese trade (the analysis is made on the ground of the statistical database CEIC. Quantitative estimates of changes in Russian-Chinese merchandise trade by commodity groups (in the HS classification due to the revaluation of the CNY against the USD were obtained via the regression analysis. In the case of the revaluation of the Yuan to the US dollar the value of Russian exports may increase for such commodity groups as mineral products, chemical industry products, base metals, precious stones and metals, and vehicles. This article shows that the value of Chinese imports will decrease for such merchandise groups as transport vehicles, machinery and equipment, leather industry products, non-precious metals and products from them; in this case, the import of the food industry products, mineral products and optical instruments will decrease insignificantly. The author concludes that the revaluation of the Yuan, contributing to the growth of Russian exports and the reduction in Chinese imports, will not cause a radical change in structure of the Russian-Chinese trade

  17. 17 CFR 33.3 - Unlawful commodity option transactions.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Unlawful commodity option... REGULATION OF DOMESTIC EXCHANGE-TRADED COMMODITY OPTION TRANSACTIONS § 33.3 Unlawful commodity option... of, or maintain a position in, any commodity option transaction subject to the provisions of this...

  18. Assessment the Impact of Asean Free Trade Area (AFTA on Exports of Indonesian Agricultural Commodity

    Directory of Open Access Journals (Sweden)

    Heri Akhmadi

    2017-07-01

    Full Text Available This paper focuses on investigation whether Indonesian membership on ASEAN Free Trade Area (AFTA increased export of agriculture commodity. The panel augmented gravity model data from 33 major partner countries over the period of 2000-2014 has been applied to analyze the factors affected Indonesian agricultural exports. The overall finding showed that Indonesian agricultural exports were positively correlated with the size of economy and partner countries population, while they are negatively correlated with the appreciation of currency exchange rate and the enrollment on free trade agreement. Moreover, the Indonesian membership on AFTA does not gave significant impact and profitable on Indonesian agricultural exports.

  19. Commodity Market Inefficiencies and Inflationary Pressures - India’s Economic Policy Dilemma

    Directory of Open Access Journals (Sweden)

    Pankaj Kumar GUPTA

    2012-11-01

    Full Text Available With the current pace of growth, India would emerge as a major player in the international market in terms of commodity consumption, production and trade. Going by trade volume and also the possibly as an identifiable influence on the price making process on the essential commodities, the futures and spot markets have shown major variations. Increased volatility in asset prices has been a major reason behind the integration of domestic financial markets with the international financial sector accentuating the demand for the trading in the derivative market. Though organized commodity trading has been in from the nineteenth century in India, the commodity derivative markets in the new form with nationwide electronic trading and access have opened the gates for speculators, hedgers and other market participants to capitalize on the development. The robust growth of the commodity markets can be observed in terms of number of commodities trade volumes and growing number of both the market participants and the commodity exchanges. Liquidity booms reflected by loose monetary policy are responsible for major surge in commodity prices globally in addition to direct tangible impacts of oil prices especially in developing countries with heavy oil imports like India. Futures markets are created to fulfill genuine desires economic functions of hedging and price discovery. But, enormous futures trading observed on the commodity exchanges have raised a host of issues like inflation guided by the fuelling principle implying the direct relationship between volatility and inflation. Huge price volatility in futures segment on the commodity exchanges has therefore raised concerns relating to the market efficiencies, infrastructure and knowledge and also their consequential impact on cash markets. The demand and supply side of the commodity price mechanism is traditionally governed by numerous factors including the climatic conditions, availability of critical

  20. 17 CFR 37.3 - Requirements for underlying commodities.

    Science.gov (United States)

    2010-04-01

    ... that are a security futures product, and the registered derivatives transaction execution facility is a... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Requirements for underlying commodities. 37.3 Section 37.3 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION...

  1. Legal status and organizational structure of commodities excange in Slovakia

    Directory of Open Access Journals (Sweden)

    Nada Petričević

    2011-07-01

    Full Text Available Commodities exchange is an important element of market economy of a country. Being an organized commodities and capital market, it goes beyond the trade in a trade fair and particular trade in real commodities. It includes trading in exchangeable goods by standard label. As foundation of commodities exchange is expected in Croatia, the paper will explicate its status and operation in Slovakia, an EU member state that is similar to our country. The paper will focus on the legal status and organizational structure of consumer goods market in Bratislava. Although it has existed for just over 15 years, it is important to note that it actually goes back to the pre-Second World War Czechoslovakia. Also, to provide better understanding of its functioning, regulations defining the foundation and functioning of the commodities market will also be presented as well as the profile, method and types of operations, together with its positive effects.

  2. Supplement: Commodity Index Report

    Data.gov (United States)

    Commodity Futures Trading Commission — Shows index traders in selected agricultural markets. These traders are drawn from the noncommercial and commercial categories. The noncommercial category includes...

  3. 17 CFR 14.4 - Violation of Commodity Exchange Act.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Violation of Commodity Exchange Act. 14.4 Section 14.4 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION... Exchange Act. The Commission may deny, temporarily or permanently, the privilege of appearing or practicing...

  4. 17 CFR 32.9 - Fraud in connection with commodity option transactions.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Fraud in connection with commodity option transactions. 32.9 Section 32.9 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION REGULATION OF COMMODITY OPTION TRANSACTIONS § 32.9 Fraud in connection with commodity...

  5. International trade standards for commodities and products derived from animals: the need for a system that integrates food safety and animal disease risk management.

    Science.gov (United States)

    Thomson, G R; Penrith, M-L; Atkinson, M W; Thalwitzer, S; Mancuso, A; Atkinson, S J; Osofsky, S A

    2013-12-01

    A case is made for greater emphasis to be placed on value chain management as an alternative to geographically based disease risk mitigation for trade in commodities and products derived from animals. The geographic approach is dependent upon achievement of freedom in countries or zones from infectious agents that cause so-called transboundary animal diseases, while value chain-based risk management depends upon mitigation of animal disease hazards potentially associated with specific commodities or products irrespective of the locality of production. This commodity-specific approach is founded on the same principles upon which international food safety standards are based, viz. hazard analysis critical control points (HACCP). Broader acceptance of a value chain approach enables animal disease risk management to be combined with food safety management by the integration of commodity-based trade and HACCP methodologies and thereby facilitates 'farm to fork' quality assurance. The latter is increasingly recognized as indispensable to food safety assurance and is therefore a pre-condition to safe trade. The biological principles upon which HACCP and commodity-based trade are based are essentially identical, potentially simplifying sanitary control in contrast to current separate international sanitary standards for food safety and animal disease risks that are difficult to reconcile. A value chain approach would not only enable more effective integration of food safety and animal disease risk management of foodstuffs derived from animals but would also ameliorate adverse environmental and associated socio-economic consequences of current sanitary standards based on the geographic distribution of animal infections. This is especially the case where vast veterinary cordon fencing systems are relied upon to separate livestock and wildlife as is the case in much of southern Africa. A value chain approach would thus be particularly beneficial to under-developed regions of

  6. 17 CFR 166.2 - Authorization to trade.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Authorization to trade. 166.2 Section 166.2 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION CUSTOMER PROTECTION RULES § 166.2 Authorization to trade. No futures commission merchant, introducing broker or any of their...

  7. Commodities, energy and environmental finance

    CERN Document Server

    Ludkovski, Michael; Sircar, Ronnie

    2015-01-01

    This volume is a collection of chapters covering the latest developments in applications of financial mathematics and statistics to topics in energy, commodity financial markets and environmental economics. The research presented is based on the presentations and discussions that took place during the Fields Institute Focus Program on Commodities, Energy and Environmental Finance in August 2013. The authors include applied mathematicians, economists and industry practitioners, providing for a multi-disciplinary spectrum of perspectives on the subject. The volume consists of four sections: Electricity Markets; Real Options; Trading in Commodity Markets; and Oligopolistic Models for Energy Production. Taken together, the chapters give a comprehensive summary of the current state of the art in quantitative analysis of commodities and energy finance. The topics covered include structural models of electricity markets, financialization of commodities, valuation of commodity real options, game-theory analysis of ...

  8. Cross-commodity hedges

    International Nuclear Information System (INIS)

    Simard, T.

    1999-01-01

    Energy risk management is the principal topic of this paper. Four major subjects are examined: cross-commodity trading objectives (reduce the risk of an underlying exposure in another commodity); portfolio risk reduction (an Alberta power distributor exposed to high pool prices could protect against high pool prices through a fixed price purchase of Alberta natural gas); tailoring pricing to customer needs (sell power to the gas producer indexed to the price of gas); and (4) reducing insurance costs (rather than purchasing downside protection (puts) individually against oil and gas prices, a producer could purchase a basket option). Since the key issue in cross-commodity transactions is the estimation of correlation, it is important to be prepared to alter correlation assumptions. 1 tab., 2 figs

  9. 17 CFR 155.4 - Trading standards for introducing brokers.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Trading standards for introducing brokers. 155.4 Section 155.4 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION TRADING STANDARDS § 155.4 Trading standards for introducing brokers. (a) Each introducing broker...

  10. 17 CFR 155.2 - Trading standards for floor brokers.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Trading standards for floor brokers. 155.2 Section 155.2 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION TRADING STANDARDS § 155.2 Trading standards for floor brokers. Each contract market shall adopt and submit...

  11. 17 CFR 155.3 - Trading standards for futures commission merchants.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Trading standards for futures commission merchants. 155.3 Section 155.3 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION TRADING STANDARDS § 155.3 Trading standards for futures commission merchants. (a) Each futures...

  12. Operational management system for warehouse logistics of metal trading companies

    Directory of Open Access Journals (Sweden)

    Khayrullin Rustam Zinnatullovich

    2014-07-01

    Full Text Available Logistics is an effective tool in business management. Metal trading business is a part of metal promotion chain from producer to consumer. It's designed to serve as a link connecting the interests of steel producers and end users. We should account for the specifics warehousing trading. The specificity of warehouse metal trading consists primarily in the fact that the purchase is made in large lots, and the sale - in medium and small parties. Loading and unloading of cars and trucks is produced by overhead cranes. Some part of the purchased goods are shipped in relatively large lots without presales preparation. Another part of the goods undergoes presale preparation. Indoor and outdoor warehouses are used with the address storage system. In the process of prolonged storage the metal rusts. Some part of the goods is subjected to final completion (cutting, welding, coloration in service centers and small factories, usually located at the warehouse. The quantity of simultaneously shipped cars, and the quantity of the loader workers brigade can reach few dozens. So it is necessary to control the loading workers, to coordinate and monitor the performance of loading and unloading operations, to make the daily analysis of their work, to evaluate the warehouse operations as a whole. There is a need to manage and control movement of cars and trucks on the warehouse territory to reduce storage and transport costs and improve customer service. ERP-systems and WMS-systems, which are widely used, do not cover fully the functions and processes of the warehouse trading, and do not effectively manage all logistics processes. In this paper the specialized software is proposed. The software is intended for operational logistics management in warehouse metal products trading. The basic functions and processes of metal warehouse trading are described. The effectiveness indices for logistics processes and key effective indicators of warehouse trading are proposed

  13. Factor Structure in Commodity Futures Return and Volatility

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Lunde, Asger; Olesen, Kasper Vinther

    Using data on more than 750 million futures trades during 2004-2013, we analyze eight stylized facts of commodity price and volatility dynamics in the post financialization period. We pay particular attention to the factor structure in returns and volatility and to commodity market integration...... with the equity market. We find evidence of a factor structure in daily commodity futures returns. However, the factor structure in daily commodity futures volatility is even stronger than in returns. When computing model-free realized commodity betas with the stock market we find that they were high during 2008......-2010 but have since returned to the pre-crisis level close to zero. The common factor in commodity volatility is nevertheless clearly related to stock market volatility. We conclude that, while commodity markets appear to again be segmented from the equity market when only returns are considered, commodity...

  14. The Efficiency of the Chinese Commodity Futures Markets: Development and Empirical Evidence

    Institute of Scientific and Technical Information of China (English)

    Yu Xin; Gongmeng Chen; Michael Firth

    2006-01-01

    This study investigates the efficiency of the Chinese metal futures (i.e. copper and aluminum) traded on China's Shanghai Futures Exchange. First, we thoroughly analyze the development of China's commodity futures markets, which provides a fundamental background. Then we examine the random walk and unbiasedness hypotheses for two metal futures during 1999-2004. Based on the empirical evidence, we argue that China's copper and aluminum futures markets are efficient, and that they aid the process of price discovery because futures prices can be considered as unbiased predictors of future spot prices. We attribute this efficiency to the regulatory changes made in 1999 and the increased financial skills and acumen of the participants in the market.

  15. 17 CFR 41.23 - Listing of security futures products for trading.

    Science.gov (United States)

    2010-04-01

    ... security futures products for trading, a designated contract market or registered derivatives transaction... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Listing of security futures products for trading. 41.23 Section 41.23 Commodity and Securities Exchanges COMMODITY FUTURES TRADING...

  16. The wine trade, piracy and maritime contract law in late medieval Southampton

    OpenAIRE

    Pamuk, Fatih

    2014-01-01

    Ankara : The Department of History, İhsan Doğramacı Bilkent University, 2014. Thesis (Master's) -- Bilkent University, 2014. Includes bibliographical references leaves 102-105. In late medieval Southampton, wine was a commodity, which was extensively traded, and quite precious to the pirates of the English Channel because it was easy to sell and the vessels loaded with wine had less protection than the ships of precious metals. Therefore, increase of wine trade in the late m...

  17. Trade creation and trade diversion in the Canada - United States Free Trade Agreement

    OpenAIRE

    Kimberly A. Clausing

    2001-01-01

    In this paper the changes in trade patterns introduced by the Canada-United States Free Trade Agreement are examined. Variation in the extent of tariff liberalization under the agreement is used to identify the impact of tariff liberalization on the growth of trade both with member countries and non-member countries. Data at the commodity level are used, and the results indicate that the Canada-United States Free Trade Agreement had substantial trade creation effects, with little evidence of ...

  18. Systemic trade risk of critical resources.

    Science.gov (United States)

    Klimek, Peter; Obersteiner, Michael; Thurner, Stefan

    2015-11-01

    In the wake of the 2008 financial crisis, the role of strongly interconnected markets in causing systemic instability has been increasingly acknowledged. Trade networks of commodities are susceptible to cascades of supply shocks that increase systemic trade risks and pose a threat to geopolitical stability. We show that supply risk, scarcity, and price volatility of nonfuel mineral resources are intricately connected with the structure of the worldwide trade networks spanned by these resources. At the global level, we demonstrate that the scarcity of a resource is closely related to the susceptibility of the trade network with respect to cascading shocks. At the regional level, we find that, to some extent, region-specific price volatility and supply risk can be understood by centrality measures that capture systemic trade risk. The resources associated with the highest systemic trade risk indicators are often those that are produced as by-products of major metals. We identify significant strategic shortcomings in the management of systemic trade risk, in particular in the European Union.

  19. Speculation on commodities futures markets and destabilization of global food prices: exploring the connections.

    Science.gov (United States)

    Ghosh, Jayati; Heintz, James; Pollin, Robert

    2012-01-01

    In December 2010, the United Nations Food and Agriculture Organization's Food Price Index surpassed its previous peak of June 2008, and prices remained at this level through September 2011. This pattern is creating justified fears of a renewal or intensification of the global food crisis. This paper reviews arguments and evidence to inform debates on how to regulate commodity futures markets in the face of such price volatility and sustained high prices. We focus on the relationship between market liquidity and price patterns in asset markets in general and in commodities futures markets in particular, as well as the relationship between spot and futures market prices for food. We find strong evidence supporting the need to limit huge increases in trading volume on futures markets through regulations. We find that arguments opposing regulation are not supported. We find no support for the claim that liquidity in futures markets stabilizes prices at "fundamental" values or that spot market prices are free of any significant influence from futures markets. Given these results, the most appropriate position for regulators is precautionary: they should enact and enforce policies capable of effectively dampening excessive speculative trading on the commodities markets for food.

  20. Emergence of Commodity Derivatives as Defensive Instrument in Portfolio Risk Hedging: A Case of Indian Commodity Markets

    Directory of Open Access Journals (Sweden)

    Singhal Shelly

    2017-04-01

    Full Text Available This paper empirically examines whether commodity derivatives can be used as an alternative investment asset in India where commodity markets are at emerging state and provides the same diversification benefit as they provide in developed commodity markets. In India only commodity futures are prevalent so various commodity indices representing various sectors has been used in the study. Diversification aspect of commodity derivatives has been tested initially by using correlation analysis. Compounded Daily Growth rate and Relative Standard deviation has been used as a measure of calculating risk and return of daily data of SENSEX, BOND and four Commodity Indices (MCX Comdex, MCX AGRI, MCX Metal, MCX Energy. Markowitz Efficient Frontier theory has been used to calculate portfolio risk return and Sharpe risk adjusted ratio has been used to evaluate the various portfolios. Optimal portfolio has been obtained for the combination of equity, bond and commodity and overall results of the study indicate that an investor who is risk averse will prefer to invest in combination of SENSEX, BOND & MCX Energy whereas an investor who gets utility by taking more risk for more returns will prefer to invest in combination of SENSEX, BOND & MCX Metal. Investor having inclination towards moderate risk return would tend to invest in MCX AGRI along with SENSEX and BOND.

  1. 17 CFR 4.32 - Trading on a Registered Derivatives Transaction Execution Facility for Non-Institutional Customers.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Trading on a Registered Derivatives Transaction Execution Facility for Non-Institutional Customers. 4.32 Section 4.32 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION COMMODITY POOL OPERATORS AND COMMODITY TRADING...

  2. 78 FR 30273 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-05-22

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 84-24A12] Export Trade Certificate of Review ACTION: Notice of Application to Amend the Export Trade Certificate of Review Issued to... application to amend an Export Trade Certificate of Review (``Certificate''). This notice summarizes the...

  3. 78 FR 62585 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-10-22

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 89-5A018] Export Trade Certificate of Review ACTION: Notice of Application to amend the Export Trade Certificate of Review Issued to... received an application to amend an Export Trade Certificate of Review (``Certificate''). This notice...

  4. 77 FR 2036 - Export Trade Certificate of Review

    Science.gov (United States)

    2012-01-13

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 92-10A001] Export Trade Certificate of Review ACTION: Notice of issuance of an Export Trade Certificate of Review to Aerospace... an amended Export Trade Certificate of Review to Aerospace Industries of America on September 27...

  5. 78 FR 36747 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-06-19

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 89-4A018] Export Trade Certificate of Review ACTION: Notice of Application to amend the Export Trade Certificate of Review Issued to... received an application to amend an Export Trade Certificate of Review (``Certificate''). This notice...

  6. 78 FR 72865 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-12-04

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 92-12A001] Export Trade Certificate of Review ACTION: Notice of application to amend the Export Trade Certificate of Review issued to..., has received an application to amend an Export Trade Certificate of Review (``Certificate''). This...

  7. 78 FR 36745 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-06-19

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 87-9A001] Export Trade Certificate of Review ACTION: Notice of Application to amend the Export Trade Certificate of Review Issued to..., has received an application to amend an Export Trade Certificate of Review (``Certificate''). This...

  8. 78 FR 78816 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-12-27

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 87-9A001] Export Trade Certificate of Review ACTION: Notice of Issuance of an Amended Export Trade Certificate of Review to... issued an amended Export Trade Certificate of Review to Independent Film and Television Alliance (``IFTA...

  9. 77 FR 61744 - Export Trade Certificate of Review

    Science.gov (United States)

    2012-10-11

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 10-3A001] Export Trade Certificate of Review ACTION: Notice of Issuance of an Export Trade Certificate of Review to Alaska Longline... Commerce issued an amended Export Trade Certificate of Review to the Alaska Longline Cod Commission (``ALCC...

  10. 77 FR 12562 - Export Trade Certificate of Review

    Science.gov (United States)

    2012-03-01

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 10-2A001] Export Trade Certificate of Review ACTION: Notice of Application (10-2A001) to Amend the Export Trade Certificate of Review..., has received an application to amend an Export Trade Certificate of Review (``Certificate''). This...

  11. 78 FR 25060 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-04-29

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 92-11A001] Export Trade Certificate of Review ACTION: Notice of Issuance of an amended Export Trade Certificate of Review to Aerospace... issued an amended Export Trade Certificate of Review to Aerospace Industries Association of America on...

  12. 78 FR 5778 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-01-28

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 92-11A01] Export Trade Certificate of Review ACTION: Notice of Application (92-11A01) to amend the Export Trade Certificate of Review... of Commerce, has received an application to amend an Export Trade Certificate of Review...

  13. 77 FR 28853 - Export Trade Certificate of Review

    Science.gov (United States)

    2012-05-16

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 10-2A001] Export Trade Certificate of Review ACTION: Notice of issuance of an Export Trade Certificate of Review to Alaska Longline... Export Trade Certificate of Review Alaska Longline Cod Commission (``ALCC'') on May 7, 2012. This is the...

  14. Space and commodity-based society

    Directory of Open Access Journals (Sweden)

    Gvozden Vladimir

    2015-01-01

    Full Text Available The space is privileged in the commodity-based society. It is well known that the economic space in the 19th and 20th centuries rapidly managed to subordinate all other areas 'conveying and instilling in them their own meanings and goals' (G. Milatović. A new form of space that qualifies commodity society was created, marked by dualities: openness-closeness, private-public, sameness-difference. This paper is an attempt to criticize the usual analysis of the categories of commodity-space, linked to the ambivalent role of the state as a guarantor of the functioning of the commodity-based society, as well as its controlling instance. The increasing delocalisation of the political changes the nature of the space in the commodity-based society. Privileged areas are produced that create an illusion of protection of consumers (shopping malls, gated communities, theme parks, video surveillance, while at the same time social differentiation and identification are produced through the symbolic order of commodities and a sense of inclusion or exclusion from that order. At the same time, the examples of tourism and selling places demonstrate that such a commodity-space unusually easy reconciles sameness and difference. It entails uniformity to help achieve the fluctuation of goods, while insisting on the local as different, especially in terms of the role of particularity in the global trade.

  15. Economic aspects of virtual water trade

    Science.gov (United States)

    Oki, Taikan; Yano, Shinjiro; Hanasaki, Naota

    2017-04-01

    Although water is rarely traded over long distances by itself, the total weight of the water consumed to produce traded commodities exceeds the weight of any other commodity traded in the world. This concept is known as virtual water trade. Although space-/time-/commodity-based quantification has been conducted extensively, the underlying causes of this peculiar feature have thus far received little exploration. Here, we use estimates of water consumption from a global hydrological model and statistical data related to food trade to elucidate three facts that explain the fundamental nature of virtual water trade with respect to alleviating water scarcity. First, we quantitatively illustrate the unique position of water among commodities based on its unit price and quantity of sales. Water has an extremely low unit price, and a tremendous volume of water is consumed per person each day. Second, we show that rich but water-scarce countries tend to reduce local water consumption by importing virtual water. Third, we demonstrate that nations characterized by net virtual water exports have higher water resources and income per capita and that no countries fall below a certain threshold with respect to both GDP and water resources. These points suggest that the virtual water trade is explained by economic characteristics of water and that sustainable development depends on promoting the co-development of poverty alleviation and water resource development.

  16. 78 FR 59004 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-09-25

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 13-00001] Export Trade Certificate of Review ACTION: Notice of Application for an Export Trade Certificate of Review to Emporia Trading LLC, Application No. 13-00001. SUMMARY: The Export Trading Company Affairs (``ETCA'') unit, Office...

  17. 78 FR 78818 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-12-27

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 13-00001] Export Trade Certificate of Review ACTION: Notice of Issuance of an Export Trade Certificate of Review to Emporia Trading LLC, Application No. 13-00001. SUMMARY: The U.S. Department of Commerce issued an Export Trade...

  18. Unveiled Risks in a Telecoupled Arena Dependent on Agricultural Commodity Trade

    Science.gov (United States)

    Batistella, M.; Silva, R. F. B. D.; Liu, J.; Moran, E. F.; Torres, S.; Dou, Y.

    2017-12-01

    In less than five years, a new field of interdisciplinary research has been widely developed within the coupled human-natural systems (CHANS) community. Based on well-known concepts acting over long distances, such as teleconnections for biophysical sciences and globalization for human sciences, the telecoupling framework states that long distant CHANS may be integrated through flows of capital, information, and matter, shaping environmental and socioeconomic changes within local systems. An international project including researchers from Brazil, China, United Kingdom (UK), and United States of America (USA) is using such a framework to study the flows of agricultural commodities between sending systems such as Brazil and the USA, and receiving systems such as China with soybean trade as a case in point. Many findings have already shown that these dynamics are intrinsically connected and changes in environmental conditions in one system may affect economic conditions in other systems. In the case of the double-crop practice (i.e., soybean followed by maize, two crops year round) used in some regions of Brazil, maize production is strongly connected with soybean production through the supply chain, logistics, producer regions, and farmers. Consequently, maize has been displaced to second-crop status, making it more vulnerable to rain shortfalls. The use of the telecoupling framework has also unveiled a possible threat for soybean production in the long run if it only relies on international demand and inputs. The telecoupled soybean production system has put some Brazilian farmers at economic risk, and is pushing them towards diversification and alternative production practices (e.g., non-GMO crops, biological control, in-farm seed production) to reduce their risk. This, in turn, may affect the demand-consumption relationship among traditional trading partners. With this paper, we also highlight the role of cascading effects and spillover systems of telecoupling in

  19. GENETICALLY MODIFIED CROPS: INTERNATIONAL TRADE AND TRADE POLICY EFFECTS

    Directory of Open Access Journals (Sweden)

    George Frisvold

    2015-04-01

    Full Text Available Where approved, producers have adopted genetically modified (GM crops extensively. Yet, areas not adopting GM crops account for large shares of production and consumption. GM crops differ from previous agricultural innovations because consumers may perceive them as fundamentally different from (and potentially inferior to conventionally grown crops. Many countries maintain restrictions on production and importation of GM crops. GM crop adoption affects producers and consumers, not only through technological change, but also through trade policy responses. This article reviews open economy analyses of impacts of GM crops. To varying degrees, commodities are segmented into GM, conventionally grown, and organic product markets. Recent advances in trade modeling consider the consequences of market segmentation, along with consequences of GM crop import restrictions, product segregation requirements, and coexistence policies.

  20. 75 FR 8040 - Export Trade Certificate of Review

    Science.gov (United States)

    2010-02-23

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application 10-00001] Export Trade Certificate of Review ACTION: Notice of Application for an Export Trade Certificate of Review from Alaska Longline Cod Commission (``ALCC'') SUMMARY: The Export Trading Company Affairs (``ETCA'') unit, Office of...

  1. 17 CFR 155.6 - Trading standards for the transaction of business on registered derivatives transaction execution...

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Trading standards for the transaction of business on registered derivatives transaction execution facilities. 155.6 Section 155.6 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION TRADING STANDARDS § 155.6 Trading...

  2. 78 FR 13861 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-03-01

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 85-17A18] Export Trade Certificate of Review ACTION: Notice of Issuance of an Amended Export Trade Certificate of Review to U.S..., Office of Competition and Economic Analysis (OCEA), has issued an amended Export Trade Certificate of...

  3. The view from the trading floor

    International Nuclear Information System (INIS)

    Schafer, B.

    1998-01-01

    Having re-invented the gas business, Enron would now like to do the same with electricity. Plenty of companies that pump gas through pipes or electrons down wires think they are in a commodity business. Enron is following this logic to its conclusion. Commodities can be traded, and a battery of tools do just that. The firm is now devoting as much effort to developing risk management as it does to pipelines and power. Two examples are given of coal producers to illustrate the economics of energy commodity trades

  4. Australian mineral industry annual review for 1986

    Energy Technology Data Exchange (ETDEWEB)

    1988-01-01

    This volume of the Australian Mineral Industry Annual Review records the development and performance of the industry during the calendar year 1986. It reports production, consumption, treatment, trade, prices, new developments, exploration, and resources for mineral commodities including fuels, and summarises equivalent developments abroad. Part 1, 'General Review', after briefly surveying the world mineral industry, summarises developments in the Australian mineral industry as a whole. Part 2, 'Commodity Review', covers individual mineral commodities and commodity groups including brown coal, black coal and peat. Part 3, 'Mining Census', tabulates statistics extracted from the Mining Census, together with some mineral processing statistics from the Manufacturing Census. Part 4, tabulates quantity and value data on mineral output provided by the State departments of mines and their equivalents. The commodity review of black coal has been abstracted separately.

  5. LNG: a commodity in the making

    International Nuclear Information System (INIS)

    Chabrelie, M.F.

    2006-01-01

    Although still far from being a commodity, LNG is undoubtedly emerging as an essential vector for world gas expansion. The flexibility it procures in terms of supply is of prime importance for future market equilibrium. Despite a number of uncertainties and constraints liable to thwart the realisation of the most optimistic growth prospects, the LNG trade remains wedded to rapid growth of about 7%/year by 2020, boosting its share of world gas trade to some 38% by that horizon. (author)

  6. LNG: a commodity in the making

    Energy Technology Data Exchange (ETDEWEB)

    Chabrelie, M.F

    2006-07-01

    Although still far from being a commodity, LNG is undoubtedly emerging as an essential vector for world gas expansion. The flexibility it procures in terms of supply is of prime importance for future market equilibrium. Despite a number of uncertainties and constraints liable to thwart the realisation of the most optimistic growth prospects, the LNG trade remains wedded to rapid growth of about 7%/year by 2020, boosting its share of world gas trade to some 38% by that horizon. (author)

  7. LNG: a commodity in the making

    International Nuclear Information System (INIS)

    Chabrelie, M.F.

    2006-01-01

    Although still far being a commodity, LNG is undoubtedly emerging as an essential vector for world gas expansion. The flexibility it procures in terms of supply is of prime importance for future market equilibrium. Despite a number of uncertainties and constraints liable to thwart the realization of the most optimistic growth prospects, the LNG trade remains wedded to rapid growth of about 7% year by 2020, boosting its share of world gas trade to some 38% by that horizon. (author)

  8. Australian mineral industry annual review for 1982

    Energy Technology Data Exchange (ETDEWEB)

    1984-01-01

    The Australian mineral industry annual review records the activities and development of the Australian mineral industry and reports production, consumption, treatment, trade, prices, new developments, exploration and resources for mineral commodities including fuels, and summarises equivalent developments abroad. The present volume reviews activities and developments in 1982. Part 1 (General Review) - after briefly surveying the world mineral industry, summarises developments in the Australian mineral industry as a whole, under the headings: the industry in the national economy; important recent developments; production; overseas trade; prices; exploration expenditure; investment; income tax; royalties; structural data; wages and salaries; industrial disputes; and government assistance, legislation and controls. Part 2 (Commodity Review) - covers industrial mineral commodities, from abrasives to zirconium. Part 3 (Mining Census) - tabulates statistics extracted from the mining census, together with some mineral processing statistics from the manufacturing census. Part 4 (Miscellaneous) - tabulates quantum and value data on mineral output provided by State departments of mines and their equivalents.

  9. Emission reduction trading - a power marketer`s perspective

    Energy Technology Data Exchange (ETDEWEB)

    Stewart, M. [Powerex Inc., Vancouver, BC (Canada)

    1999-10-01

    The current situation , and the short-term and long-term outlook in emission reduction trading are reviewed from the point of view of a power marketer. The author`s view is that while the concept of emission reduction credit (ERC) is easy enough to understand, i.e. a series of measures to reduce carbon dioxide production and enhance carbon sequestration, there is no standard definition, although there are a number of models under consideration. What is being sought is clear ownership and title, a clear understanding of what qualifies as a credit, credit for early action, commodity specifications and the ability to hedge. The author predicts that in the short-tem, industry will experiment with different types of transactions to gain experience and seek partners who are willing to share risk and development cost. In the longer-term, emission reduction credits will be bought and sold as commodities and traded, swapped or exchanged as part of a portfolio in bilateral trade transactions, and used in hedging against future liabilities.

  10. 78 FR 53727 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-08-30

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 84-24A12] Export Trade Certificate of Review ACTION: Notice of Issuance of an Export Trade Certificate of Review to Northwest Fruit Exporters, Application No. 84-24A12. SUMMARY: The U.S. Department of Commerce issued an amended Export Trade...

  11. 78 FR 1837 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-01-09

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 84-23A12] Export Trade Certificate of Review ACTION: Notice of issuance of an Export Trade Certificate of Review to Northwest Fruit Exporters, Application No. 84-23A12. SUMMARY: The U.S. Department of Commerce issued an amended Export Trade...

  12. Global stocks of selected mineral-based commodities

    Science.gov (United States)

    Wilburn, David R.; Bleiwas, Donald I.; Karl, Nick A.

    2016-12-05

    IntroductionThe U.S. Geological Survey, National Minerals Information Center, analyzes mineral and metal supply chains by identifying and describing major components of mineral and material flows from ore extraction, through intermediate forms, to a final product. This report focuses on an important component of the world’s supply chain: the amounts and global distribution of major consumer, producer, and exchange stocks of selected mineral commodities. In this report, the term “stock” is used instead of “inventory” and refers to accumulations of mined ore, intermediate products, and refined mineral-based commodities that are in a form that meets the agreed-upon specifications of a buyer or processor of intermediate products. These may include certain ores such as bauxite, concentrates, smelter products, and refined metals. Materials sometimes referred to as inventory for accounting purposes, such as ore contained in a deposit or in a leach pile, or materials that need to be further processed before they can be shipped to a consumer, are not considered. Stocks may be held (owned) by consumers, governments, investors, producers, and traders. They may serve as (1) a means to achieve economic, social, and strategic goals through government policies; (2) a secure source of supply to meet demand and to mitigate potential shortages in the supply chain; (3) a hedge to mitigate price volatility; and (4) vehicles for speculative investment.The paucity and uneven reliability of data for stocks of ores and concentrates and for material held by producers, consumers, and merchants hinder the accurate estimating of the size and distribution of this portion of the supply chain for certain commodities. This paper reviews the more visible stocks held in commodity exchange warehouses distributed throughout the world.

  13. 77 FR 72324 - Export Trade Certificate of Review

    Science.gov (United States)

    2012-12-05

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 85-17A18] Export Trade Certificate of Review ACTION: Notice of Application to Amend the Export Trade Certificate of Review Issued to... to amend an Export [[Page 72325

  14. Trading forests: land-use change and carbon emissions embodied in production and exports of forest-risk commodities

    Science.gov (United States)

    Henders, Sabine; Persson, U. Martin; Kastner, Thomas

    2015-12-01

    Production of commercial agricultural commodities for domestic and foreign markets is increasingly driving land clearing in tropical regions, creating links and feedback effects between geographically separated consumption and production locations. Such teleconnections are commonly studied through calculating consumption footprints and quantifying environmental impacts embodied in trade flows, e.g., virtual water and land, biomass, or greenhouse gas emissions. The extent to which land-use change (LUC) and associated carbon emissions are embodied in the production and export of agricultural commodities has been less studied. Here we quantify tropical deforestation area and carbon emissions from LUC induced by the production and the export of four commodities (beef, soybeans, palm oil, and wood products) in seven countries with high deforestation rates (Argentina, Bolivia, Brazil, Paraguay, Indonesia, Malaysia, and Papua New Guinea). We show that in the period 2000-2011, the production of the four analyzed commodities in our seven case countries was responsible for 40% of total tropical deforestation and resulting carbon losses. Over a third of these impacts was embodied in exports in 2011, up from a fifth in 2000. This trend highlights the growing influence of global markets in deforestation dynamics. Main flows of embodied LUC are Latin American beef and soybean exports to markets in Europe, China, the former Soviet bloc, the Middle East and Northern Africa, whereas embodied emission flows are dominated by Southeast Asian exports of palm oil and wood products to consumers in China, India and the rest of Asia, as well as to the European Union. Our findings illustrate the growing role that global consumers play in tropical LUC trajectories and highlight the need for demand-side policies covering whole supply chains. We also discuss the limitations of such demand-side measures and call for a combination of supply- and demand-side policies to effectively limit tropical

  15. Trading forests: land-use change and carbon emissions embodied in production and exports of forest-risk commodities

    International Nuclear Information System (INIS)

    Henders, Sabine; Persson, U Martin; Kastner, Thomas

    2015-01-01

    Production of commercial agricultural commodities for domestic and foreign markets is increasingly driving land clearing in tropical regions, creating links and feedback effects between geographically separated consumption and production locations. Such teleconnections are commonly studied through calculating consumption footprints and quantifying environmental impacts embodied in trade flows, e.g., virtual water and land, biomass, or greenhouse gas emissions. The extent to which land-use change (LUC) and associated carbon emissions are embodied in the production and export of agricultural commodities has been less studied. Here we quantify tropical deforestation area and carbon emissions from LUC induced by the production and the export of four commodities (beef, soybeans, palm oil, and wood products) in seven countries with high deforestation rates (Argentina, Bolivia, Brazil, Paraguay, Indonesia, Malaysia, and Papua New Guinea). We show that in the period 2000–2011, the production of the four analyzed commodities in our seven case countries was responsible for 40% of total tropical deforestation and resulting carbon losses. Over a third of these impacts was embodied in exports in 2011, up from a fifth in 2000. This trend highlights the growing influence of global markets in deforestation dynamics. Main flows of embodied LUC are Latin American beef and soybean exports to markets in Europe, China, the former Soviet bloc, the Middle East and Northern Africa, whereas embodied emission flows are dominated by Southeast Asian exports of palm oil and wood products to consumers in China, India and the rest of Asia, as well as to the European Union. Our findings illustrate the growing role that global consumers play in tropical LUC trajectories and highlight the need for demand-side policies covering whole supply chains. We also discuss the limitations of such demand-side measures and call for a combination of supply- and demand-side policies to effectively limit

  16. The future of coal trading. Part 1: obstacles to coal trading

    International Nuclear Information System (INIS)

    Schafer, W.; Vaninetti, J.

    1998-01-01

    'Trading' as used in this article means routine buying and selling of futures contracts or options and other derivatives of future contracts. The variable nature of coal, lack of liquidity, and the coal industry's understanding and acceptance of commodity trading concepts are identified as three major barriers to successful trading of a coal futures contract. The article discusses these obstacles

  17. 77 FR 58809 - Export Trade Certificate of Review

    Science.gov (United States)

    2012-09-24

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 12-00005] Export Trade Certificate of Review ACTION: Notice of issuance of an Export Trade Certificate of Review to Colombia Rice Export Quota, Inc. (``COL-RICE'') (Application 12-00005). SUMMARY: On August 28, 2012, the U.S...

  18. 77 FR 53865 - Export Trade Certificate of Review

    Science.gov (United States)

    2012-09-04

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 12-00004] Export Trade Certificate of Review ACTION: Notice of issuance of an Export Trade Certificate of Review to Colombia Poultry Export Quota, Inc. (``COLOM-PEQ)'') (Application 12-00004). SUMMARY: On August 14, 2012, the U.S...

  19. The Effects of Digital Marketing of Unhealthy Commodities on Young People: A Systematic Review

    OpenAIRE

    Limin Buchanan; Bridget Kelly; Heather Yeatman; Kishan Kariippanon

    2018-01-01

    The marketing of unhealthy commodities through traditional media is known to impact consumers’ product attitudes and behaviors. Less is known about the impacts of digital marketing (online promotional activities), especially among young people who have a strong online presence. This review systematically assesses the relationship between digital marketing and young people’s attitudes and behaviors towards unhealthy commodities. Literature was identified in June 2017 by searches in six electro...

  20. 17 CFR 36.2 - Exempt boards of trade.

    Science.gov (United States)

    2010-04-01

    ... liquid, to render any contract traded on the commodity highly unlikely to be susceptible to the threat of manipulation; or (iii)No cash market. (2) The commodities that meet the criteria of paragraph (a)(1) of this... underlying any agreement, contract, or transaction executed or traded on the facility when: (A) Cash market...

  1. Emission reduction trading - a power marketer's perspective

    Energy Technology Data Exchange (ETDEWEB)

    Stewart, M. (Powerex Inc., Vancouver, BC (Canada))

    1999-01-01

    The current situation , and the short-term and long-term outlook in emission reduction trading are reviewed from the point of view of a power marketer. The author's view is that while the concept of emission reduction credit (ERC) is easy enough to understand, i.e. a series of measures to reduce carbon dioxide production and enhance carbon sequestration, there is no standard definition, although there are a number of models under consideration. What is being sought is clear ownership and title, a clear understanding of what qualifies as a credit, credit for early action, commodity specifications and the ability to hedge. The author predicts that in the short-tem, industry will experiment with different types of transactions to gain experience and seek partners who are willing to share risk and development cost. In the longer-term, emission reduction credits will be bought and sold as commodities and traded, swapped or exchanged as part of a portfolio in bilateral trade transactions, and used in hedging against future liabilities.

  2. Trade in the telecoupling framework: evidence from the metals industry

    Directory of Open Access Journals (Sweden)

    Hang Xiong

    2018-03-01

    Full Text Available As a conceptual framework for understanding contemporary sustainability challenges, telecoupling emphasizes the importance of socioeconomic and environmental interactions over long distances. These long-distance interactions can occur through multiple human activities. We focus on international trade, a major channel of telecoupling flows, and in particular on the international trade of metals. We use the data of physical products and embedded greenhouse gas (GHG emissions trade in the World Input-Output Database (WIOD to quantitatively examine how countries contribute to both economic and environmental flows through the trade of metals, but also how that contribution varies depending on their position in the global value chain (GVC of contemporary international trade. This analysis is built on previously developed techniques for decomposing gross exports of products, which we apply to examine embedded GHG emissions. We make comparisons between countries' contributions to flows of economic value versus embedded GHG emissions, but also examine contributions beyond total volumes of trade and bilateral trade. Specifically, we quantify the economic and environmental spillover effects that occur in contemporary international trade because of the GVC in which flows of intermediate goods form components in other subsequently traded goods. We interpret differences between countries' contributions to the flows of economic value versus embedded GHG emissions as being related to the intensity and efficiency of resource use during production. In turn, differences in contributions to direct trade flows versus spillover flows are related to their positions in the GVC. Subsequently, we discuss other elements of the telecoupling framework in trade, i.e., agents, causes, and effects. Quantitatively incorporating these telecoupling framework elements alongside spillover flows will enable investigation of dynamics and relationships that traditional trade theories

  3. 77 FR 41970 - Export Trade Certificate of Review

    Science.gov (United States)

    2012-07-17

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 12-00001] Export Trade Certificate of Review ACTION: Notice of issuance of an Export Trade Certificate of Review to Panama Poultry Export Quota, Inc. (``PAN-PEQ'') (Application 12-00001). SUMMARY: On June 25, 2012, the U.S. Department...

  4. 78 FR 31517 - Export Trade Certificate of Review

    Science.gov (United States)

    2013-05-24

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 99-5A002] Export Trade Certificate of Review ACTION: Notice of Issuance of an amended Export Trade Certificate of Review to California Almond Export Association, LLC (``CAEA'') (Application 99-5A002). SUMMARY: The U.S. Department of...

  5. An industry perspective on the use of seasonal forecasts and weather information for evaluating sensitivities in traded commodity supply chains

    Science.gov (United States)

    Domeisen, Daniela; Slavov, Georgi

    2015-04-01

    Weather information on seasonal timescales is crucial to various end users, from the level of subsistence farming to the government level. Also the financial industry is ever more aware of and interested in the benefits that early and correctly interpreted forecast information provides. Straight forward and often cited applications include the estimation of rainfall and temperature anomalies for drought - prone agricultural areas producing traded commodities, as well as some of the rather direct impacts of weather on energy production. Governments, weather services, as well as both academia and private companies are working on tailoring climate and weather information to a growing number of customers. However, also other large markets, such as coal, iron ore, and gas, are crucially dependent on seasonal weather information and forecasts, while the needs are again very dependent on the direction of the predicted signal. So far, relatively few providers in climate services address these industries. All of these commodities show a strong seasonal and weather dependence, and an unusual winter or summer can crucially impact their demand and supply. To name a few impacts, gas is crucially driven by heating demand, iron ore excavation is dependent on the available water resources, and coal mining is dependent on winter temperatures and rainfall. This contribution will illustrate and provide an inside view of the type of climate and weather information needed for the various large commodity industries.

  6. 78 FR 61384 - Silicon Metal From Russia; Notice of Commission Determination To Conduct a Full Five-year Review

    Science.gov (United States)

    2013-10-03

    ... INTERNATIONAL TRADE COMMISSION [Investigation No. 731-TA-991 (Review)] Silicon Metal From Russia... whether revocation of the antidumping duty order on silicon metal from Russia would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. A schedule for the review...

  7. Agricultural and oil commodities: price transmission and market integration between US and Italy

    Directory of Open Access Journals (Sweden)

    Franco Rosa

    2014-08-01

    Full Text Available Purpose of this article it to get some evidences of market interaction between United States and Italy using the time series analysis of spot prices spanning from January 1999 to May 2012 for crude oil and three ag-commodities: wheat, corn and soybean. These crops have been selected for their relevance in ag-commodity exchanges between US and Italy markets. The integration between US and Italy agricultural markets is hypothesized for the consistent volume of crop traded between these two countries while the price transmission is related to the leading price signals of the CBT (Chicago Board of Trade. The integration between oil and ag-commodity markets is suggested both by the large use of energy intensive inputs, (fertilizer, seed, machinery in production of these ag-commodities, and their use in biofuel production. The results suggest: a for US market the evidence of market integration between crude oil and US ag-commodities; b for Italy the integration with US ag-commodity markets and less evidence of integration with the oil market. These results are valuable information both for the agents and policy makers contributing to improve the information accuracy to predict the price movements used by marketing operators for their strategies and policy makers to set up policies to re-establish conditions of market efficiency and allocate these ag-commodities in alternative market channels.

  8. Production and trading of biomass for energy - An overview of the global status

    International Nuclear Information System (INIS)

    Heinimoe, J.; Junginger, M.

    2009-01-01

    The markets for industrially used biomass for energy purposes are developing rapidly toward being international commodity markets. Determining international traded biomass volumes for energy purposes is difficult, for several reasons, such as challenges regarding the compilation of statistics on the topic. While for some markets (pellets and ethanol) separate overviews exist, no comprehensive statistics and summaries aggregating separate biomass streams are available. The aim of this paper is to summarise trade volumes for various biomasses used for energy and to review the challenges related to measurement of internationally traded volumes of biofuels. International trade of solid and liquid biofuels was estimated to be about 0.9 EJ for 2006. Indirect trade of biofuels thorough trading of industrial roundwood and material byproducts comprises the largest proportion of trading, having a share of about 0.6 EJ. The remaining amount consisted of products that are traded directly for energy purposes, with ethanol, wood pellets, and palm oil being the most important commodities. In 2004-2006, the direct trade of biofuels increased 60%, whereas indirect trade has been almost constant. When compared to current global energy use of biomass (about 50 EJ yr -1 ) and to the long-term theoretical trading potential between the major regions of the world (80-150 EJ yr -1 ), the development of international trade of biomass for energy purposes is in its initial stage, but it is expected to continue to grow rapidly. (author)

  9. 16 CFR 500.13 - Measurement of commodities by area measure only, how expressed.

    Science.gov (United States)

    2010-01-01

    ... commodities by area measure only, how expressed. For commodities measured in terms of area measure only declaration of net quantity in terms of square yards, square feet, and square inches shall be expressed in the... only, how expressed. 500.13 Section 500.13 Commercial Practices FEDERAL TRADE COMMISSION RULES...

  10. 17 CFR 240.15c3-1b - Adjustments to net worth and aggregate indebtedness for certain commodities transactions...

    Science.gov (United States)

    2010-04-01

    ... contracts; and (B) The value attributed to any commodity option which is not traded on a contract market... for inventory and forward contracts in the inter-bank market in those foreign currencies which are... broker or dealer which is a purchaser of a commodity option which is traded on a contract market the...

  11. Regulation of oil trading: a U.S. and U.K. legal update (or) Death of Transnor

    International Nuclear Information System (INIS)

    Turck, N.B.

    1992-01-01

    Current law in the USA and United Kingdom relating to commodities trading in oil and oil products is an area of uncertainty and case law is not necessarily consistent with regulation. The principal laws relating to commodities trading are reviewed and analysed as they apply to the oil market. In the case of the USA this is the Commodities Exchange Act (CEA) administered by the Commodities Future Trading Commission (CFTC). Conflicting interpretations of the CEA of the US Federal Court in a case concerning the Brent crude transactions of the Transnor company, and by the CFTC, are examined. In contrast to the USA, where transactions and the market are regulated, the United Kingdom regulation is aimed at the traders and their behaviour. In the United Kingdom, the Financial Services Act 1986 (FSA) established self-regulating professional bodies to issue rules governing the conduct of entities carrying on investment business. Rules applying to oil and product traders are issued and enforced by the Security and Futures Authority Ltd (SFA). Additionally the Securities and Investment Board (SIB), the umbrella organisation of the regulatory bodies established by the FSA, has produced an Oil Market Code of Practice which is appended to this article. (UK)

  12. Pairs Trading to the Commodities Futures Market Using Cointegration Method

    Directory of Open Access Journals (Sweden)

    Cüneyt Ungever

    2015-10-01

    Full Text Available This paper investigates pairs trading strategy by using the cointegration method among the 10 most popular agricultural future markets. It is found that only in 2 pairs shows trading signal. The pairs trading strategy is performed in two stages that are the formation period and the trading period with daily futures data from 2004 to 2015. After the formation period was constructed, it is assumed that the cointegration error continues to hold the trading period same as it does for the formation period. The pairs trading strategy is created by the long position cotton and the short position coffee and also long position cotton and short position the livecattle. It is found that the profitability of this strategy worked well in both formation period and trading period.

  13. A strong argument for using non-commodities to generate electricity

    International Nuclear Information System (INIS)

    Santiago, Katarina Tatiana Marques; Campello de Souza, Fernando Menezes; Carvalho Bezerra, Diogo de

    2014-01-01

    An optimal control approach towards generating electricity is used to analyze the trade-off between using of primary sources which are regarded as commodities, such as fossil fuels, biomass and water to generate electricity, and exploiting these sources for their other economic uses (for example, in the petrochemical industry, in the production of fuels, in agriculture, in steelmaking, and so forth). In order to do so, a dynamic model is presented which establishes relationships between economic growth, the fossil fuel, water and biomass sectors, and energy policies, based on the application of the Pontryagin Maximum Principle. Among other results, the analysis establishes that, under the optimal path, the price of commodities for non-energy uses should be twice the price of the energy assets. This indicates that sources which are not commodities such as solar energy, wind energy, and geothermal energy, should be used to generate electricity. - Highlights: • We used an optimal control approach to analyze the trade-off between the multiple uses of energy resource. • We used a dynamic model which establishes relationships between economic growth, the fossil fuel, water and biomass sectors. • The analysis establishes that the price of commodities for non-energy uses should be twice the price of the energy assets

  14. Testing Efficiency of the London Metal Exchange: New Evidence

    Directory of Open Access Journals (Sweden)

    Jaehwan Park

    2018-03-01

    Full Text Available This paper explores the market efficiency of the six base metals traded on the LME (London Metal Exchange using daily data from January 2000 to June 2016. The hypothesis that futures prices 3M (3-month are unbiased predictors of spot prices (cash in the LME is rejected based on the false premise that the financialization of commodities has been growing. For the robustness check, monthly data is analyzed using ordinary least squares (OLS and GARCH (1,1 models. We reject the null hypothesis for all metals except for zinc.

  15. Support of the landscape amenity function of agriculture and trade liberalisation

    Directory of Open Access Journals (Sweden)

    Simona Kubíčková

    2004-01-01

    Full Text Available Recent agricultural policy and trade discussions have given increasing attention to “multifunctionality”, the notion, that agriculture provides multiple outputs that include public goods (such as landscape amenities as well as privately traded commodities. A frequent point of contention is also whether payment for the provision of non-commodity outputs distorts trade by giving domestic farmers a competitive advantage over foreign competitors. The paper reviews some requirements for environmental policy design and the role of property rights for the justification of the development of compensation programs targeted to landscape protection. The second part of the paper illustrates the possibilities, how to use results of Contingent Valuation (CV study of landscape amenity benefits of agriculture to prove eligibility for agri-environmental payments in the case of the Protected Landscape Area White Carpathians (Bílé Karpaty. It is documented in the paper, that Contingent Valuation can provide useful information about genuine concern and overall efficiency of compensation programs as well as people’s views about alternative ethical ends, besides human well-being, that policy makers should take in consideration.

  16. Two Islands, One Commodity: Cuba, Java, and the Global Sugar Trade (1790-1930

    Directory of Open Access Journals (Sweden)

    Jonathan Curry-Machado

    2012-12-01

    Full Text Available Sugar had become, by the eighteenth century, a global commodity. Originating in East Asia, plantations in the Americas fed the growing taste for its use in Europe, with its consumption increasingly popularised. The 1791 Revolution in Saint Domingue (Haiti and the 1807 British abolition of the slave trade prompted shifts in the epicentres of sugar, the most important of these being arguably to Cuba and Java. These two fertile islands saw the burgeoning development of sugar-plantation systems with major inputs of foreign capital and forced labour. In the process the two islands each, respectively, became central to the very much truncated Spanish and Dutch colonial empires left after the Napoleonic wars and the Latin American wars of liberation; and by the mid-nineteenth century in the case of Cuba, and by the late nineteenth century in the case of Java, they had been catapulted to global sugar pre-eminence. There has been an abundance of study on the two islands each in their own right, but none systematically examines their parallel trajectories. Yet the question arises as to how sugar came to dominate the agriculture, industry and trade of these two islands; and how these two islands in particular, in two different colonial systems and parts of the world, should rise to sugar pre-eminence in the way they did and when they did. Are there connections and similarities between the two that help explain this phenomenon? This article analyses the conditions that led Java and Cuba to become the prime cane-sugar exporters of the nineteenth and early twentieth centuries. Initiative for this came from the linkages between their dominant elites and the transnational, transimperial networks of trade and capital. This furthered the stimulation of technological and scientific innovation in both, enabled not only through the introduction of the latest advances in machinery and method, but also the immigration of technical skilled workers from Europe and North

  17. The Effects of Digital Marketing of Unhealthy Commodities on Young People: A Systematic Review.

    Science.gov (United States)

    Buchanan, Limin; Kelly, Bridget; Yeatman, Heather; Kariippanon, Kishan

    2018-01-29

    The marketing of unhealthy commodities through traditional media is known to impact consumers' product attitudes and behaviors. Less is known about the impacts of digital marketing (online promotional activities), especially among young people who have a strong online presence. This review systematically assesses the relationship between digital marketing and young people's attitudes and behaviors towards unhealthy commodities. Literature was identified in June 2017 by searches in six electronic databases. Primary studies (both qualitative and quantitative) that examined the effect of digital marketing of unhealthy food or beverages, alcohol and tobacco products on young people's (12 to 30 years) attitudes, intended and actual consumption were reviewed. 28 relevant studies were identified. Significant detrimental effects of digital marketing on the intended use and actual consumption of unhealthy commodities were revealed in the majority of the included studies. Findings from the qualitative studies were summarized and these findings provided insights on how digital marketing exerts effects on young people. One of the key findings was that marketers used peer-to-peer transmission of messages on social networking sites (e.g., friends' likes and comments on Facebook) to blur the boundary between marketing contents and online peer activities. Digital marketing of unhealthy commodities is associated with young people's use and beliefs of these products. The effects of digital marketing varied between product types and peer endorsed marketing (earned media) may exert greater negative impacts than owned or paid media marketing.

  18. The Effects of Digital Marketing of Unhealthy Commodities on Young People: A Systematic Review

    Directory of Open Access Journals (Sweden)

    Limin Buchanan

    2018-01-01

    Full Text Available The marketing of unhealthy commodities through traditional media is known to impact consumers’ product attitudes and behaviors. Less is known about the impacts of digital marketing (online promotional activities, especially among young people who have a strong online presence. This review systematically assesses the relationship between digital marketing and young people’s attitudes and behaviors towards unhealthy commodities. Literature was identified in June 2017 by searches in six electronic databases. Primary studies (both qualitative and quantitative that examined the effect of digital marketing of unhealthy food or beverages, alcohol and tobacco products on young people’s (12 to 30 years attitudes, intended and actual consumption were reviewed. 28 relevant studies were identified. Significant detrimental effects of digital marketing on the intended use and actual consumption of unhealthy commodities were revealed in the majority of the included studies. Findings from the qualitative studies were summarized and these findings provided insights on how digital marketing exerts effects on young people. One of the key findings was that marketers used peer-to-peer transmission of messages on social networking sites (e.g., friends’ likes and comments on Facebook to blur the boundary between marketing contents and online peer activities. Digital marketing of unhealthy commodities is associated with young people’s use and beliefs of these products. The effects of digital marketing varied between product types and peer endorsed marketing (earned media may exert greater negative impacts than owned or paid media marketing.

  19. The Effects of Digital Marketing of Unhealthy Commodities on Young People: A Systematic Review

    Science.gov (United States)

    Buchanan, Limin; Kelly, Bridget; Kariippanon, Kishan

    2018-01-01

    The marketing of unhealthy commodities through traditional media is known to impact consumers’ product attitudes and behaviors. Less is known about the impacts of digital marketing (online promotional activities), especially among young people who have a strong online presence. This review systematically assesses the relationship between digital marketing and young people’s attitudes and behaviors towards unhealthy commodities. Literature was identified in June 2017 by searches in six electronic databases. Primary studies (both qualitative and quantitative) that examined the effect of digital marketing of unhealthy food or beverages, alcohol and tobacco products on young people’s (12 to 30 years) attitudes, intended and actual consumption were reviewed. 28 relevant studies were identified. Significant detrimental effects of digital marketing on the intended use and actual consumption of unhealthy commodities were revealed in the majority of the included studies. Findings from the qualitative studies were summarized and these findings provided insights on how digital marketing exerts effects on young people. One of the key findings was that marketers used peer-to-peer transmission of messages on social networking sites (e.g., friends’ likes and comments on Facebook) to blur the boundary between marketing contents and online peer activities. Digital marketing of unhealthy commodities is associated with young people’s use and beliefs of these products. The effects of digital marketing varied between product types and peer endorsed marketing (earned media) may exert greater negative impacts than owned or paid media marketing. PMID:29382140

  20. Radiation processing of food and agricultural commodities

    International Nuclear Information System (INIS)

    Sharma, Arun

    2014-01-01

    Reducing post-harvest food losses is becoming increasingly important for sustaining food supplies. Appropriate post-harvest processing, handling, storage and distribution practices are as important as the efforts to increase productivity for improving food security, food safety and international trade in agricultural commodities. Preservation of food by ionizing radiation involves controlled application of energy of ionizing radiation such as gamma rays, X-rays, and accelerated electrons to agricultural commodities, food products and ingredients, for improving their storage life, hygiene and safety. The process employs either gamma rays emitted by radioisotopes such as cobalt-60 or high-energy electrons or X-rays generated from machine sources

  1. How market structure drives commodity prices

    Science.gov (United States)

    Li, Bin; Wong, K. Y. Michael; Chan, Amos H. M.; So, Tsz Yan; Heimonen, Hermanni; Wei, Junyi; Saad, David

    2017-11-01

    We introduce an agent-based model, in which agents set their prices to maximize profit. At steady state the market self-organizes into three groups: excess producers, consumers and balanced agents, with prices determined by their own resource level and a couple of macroscopic parameters that emerge naturally from the analysis, akin to mean-field parameters in statistical mechanics. When resources are scarce prices rise sharply below a turning point that marks the disappearance of excess producers. To compare the model with real empirical data, we study the relationship between commodity prices and stock-to-use ratios in a range of commodities such as agricultural products and metals. By introducing an elasticity parameter to mitigate noise and long-term changes in commodities data, we confirm the trend of rising prices, provide evidence for turning points, and indicate yield points for less essential commodities.

  2. A change in a competitive economy with indivisible commodities

    OpenAIRE

    Takayuki Oishi; Shin Sakaue

    2008-01-01

    We consider the relationship between a traditional competitive market and a competitive market with middlemen for trading indivisible commodities. We demonstrate that existence of many homogeneous middlemen leads to a change from the market with middlemen to the bilateral market.

  3. 17 CFR 10.105 - Review by Commission on its own initiative.

    Science.gov (United States)

    2010-04-01

    ... own initiative. 10.105 Section 10.105 Commodity and Securities Exchanges COMMODITY FUTURES TRADING... initiative. The Commission may on its own initiative, within 30 days after the initial decision has been... the Commission has directed review on its own initiative shall be served on all parties by the...

  4. Recent History and Geography of Virtual Water Trade

    Science.gov (United States)

    Carr, Joel A.; D’Odorico, Paolo; Laio, Francesco; Ridolfi, Luca

    2013-01-01

    The global trade of goods is associated with a virtual transfer of the water required for their production. The way changes in trade affect the virtual redistribution of freshwater resources has been recently documented through the analysis of the virtual water network. It is, however, unclear how these changes are contributed by different types of products and regions of the world. Here we show how the global patterns of virtual water transport are contributed by the trade of different commodity types, including plant, animal, luxury (e.g., coffee, tea, and alcohol), and other products. Major contributors to the virtual water network exhibit different trade patterns with regard to these commodity types. The net importers rely on the supply of virtual water from a small percentage of the global population. However, discrepancies exist among the different commodity networks. While the total virtual water flux through the network has increased between 1986 and 2010, the proportions associated with the four commodity groups have remained relatively stable. However, some of the major players have shown significant changes in the virtual water imports and exports associated with those commodity groups. For instance, China has switched from being a net exporter of virtual water associated with other products (non-edible plant and animal products typically used for manufacturing) to being the largest importer, accounting for 31% of the total water virtually transported with these products. Conversely, in the case of The United states of America, the commodity proportions have remained overall unchanged throughout the study period: the virtual water exports from The United States of America are dominated by plant products, whereas the imports are comprised mainly of animal and luxury products. PMID:23457481

  5. Recent history and geography of virtual water trade.

    Science.gov (United States)

    Carr, Joel A; D'Odorico, Paolo; Laio, Francesco; Ridolfi, Luca

    2013-01-01

    The global trade of goods is associated with a virtual transfer of the water required for their production. The way changes in trade affect the virtual redistribution of freshwater resources has been recently documented through the analysis of the virtual water network. It is, however, unclear how these changes are contributed by different types of products and regions of the world. Here we show how the global patterns of virtual water transport are contributed by the trade of different commodity types, including plant, animal, luxury (e.g., coffee, tea, and alcohol), and other products. Major contributors to the virtual water network exhibit different trade patterns with regard to these commodity types. The net importers rely on the supply of virtual water from a small percentage of the global population. However, discrepancies exist among the different commodity networks. While the total virtual water flux through the network has increased between 1986 and 2010, the proportions associated with the four commodity groups have remained relatively stable. However, some of the major players have shown significant changes in the virtual water imports and exports associated with those commodity groups. For instance, China has switched from being a net exporter of virtual water associated with other products (non-edible plant and animal products typically used for manufacturing) to being the largest importer, accounting for 31% of the total water virtually transported with these products. Conversely, in the case of The United states of America, the commodity proportions have remained overall unchanged throughout the study period: the virtual water exports from The United States of America are dominated by plant products, whereas the imports are comprised mainly of animal and luxury products.

  6. Contextualizing Embodied Resources in Global Food Trade

    Science.gov (United States)

    MacDonald, G. K.; Brauman, K. A.; Sun, S.; West, P. C.; Carlson, K. M.; Cassidy, E. S.; Gerber, J. S.; Ray, D. K.

    2014-12-01

    Trade in agricultural commodities has created increasingly complex linkages between resource use and food supplies across national borders. Understanding the degree to which food production and consumption relies on trade is vital to understanding how to sustainably meet growing food demands across scales. We use detailed bilateral trade statistics and data on agricultural management to examine the land use and water consumption embodied in agricultural trade, which we relate to basic nutritional indicators to show how trade contributes to food availability worldwide. Agricultural trade carries enough calories to provide >1.7 billion people a basic diet each year. We identify key commodities and producer-consumer relationships that disproportionately contribute to embodied resource use and flows of food nutrition at the global scale. For example, just 15 disproportionately large soybean trades comprised ~10% the total harvested area embodied in export production. We conclude by framing these results in terms of the fraction of each country's food production and consumption that is linked to international trade. These findings help to characterize how countries allocate resources to domestic versus foreign food demand.

  7. 17 CFR 242.301 - Requirements for alternative trading systems.

    Science.gov (United States)

    2010-04-01

    ... trading systems. 242.301 Section 242.301 Commodity and Securities Exchanges SECURITIES AND EXCHANGE... FUTURES Regulation Ats-Alternative Trading Systems § 242.301 Requirements for alternative trading systems. (a) Scope of section. An alternative trading system shall comply with the requirements in paragraph...

  8. 75 FR 70973 - Registration of Foreign Boards of Trade

    Science.gov (United States)

    2010-11-19

    ... prospectively to facilitate direct access to the electronic trading system of a foreign board of trade by its U... Trade; Proposed Rule #0;#0;Federal Register / Vol. 75 , No. 223 / Friday, November 19, 2010 / Proposed... Registration of Foreign Boards of Trade AGENCY: Commodity Futures Trading Commission. ACTION: Notice of...

  9. Electricity trade under financial market supervision; Der Stromhandel unter Finanzmarktaufsicht

    Energy Technology Data Exchange (ETDEWEB)

    Hagena, Martin

    2011-07-01

    With the competitive opening of the electricity market at European and national level, the goods electricity became a freely traded commodity. The author of the contribution under consideration describes the legal consequences related to financial market for trading electricity in the context of the current Directive 2004/39/EC now under consideration of the commodity futures trading in its representational scope. The statements clearly indicate that the power market is a goods market with its own laws and not a classical financial market. It considers what characteristics exist in electricity trading and whether and how they are considered for regulatory purposes.

  10. Trade Liberalization between Russia and East Asian Countries

    Directory of Open Access Journals (Sweden)

    Dmitriy Aleksandrovich Izotov

    2015-12-01

    Full Text Available Based on the international statistics data the author estimates effects of trade liberalization between Russia and East Asian countries. The prospective niche markets in mutual trade and the impact of trade liberalization on the national economies were identified. Using a partial equilibrium model the author indicates the following positive trade effects for Russia and East Asia: trade creation effect prevails over trade diversion effect; general welfare and mutual trade of the countries tend to increase. The Russian economy has positive trade effects with all the East Asian countries, with the highest scale in the case of Sino-Russian trade. At the same time trade liberalization has following some costs for the Russian economy: a the growing role of imports, mostly from China, compared to Russian exports; b reduction of tariff revenues, which are four times higher for Russia, compared to East Asian countries; c continued negative trade balance with the East Asian countries. The evaluation shows that the increase of Russian exports to East Asian countries is feasible only for certain commodity groups which determine marketable niches of specific East Asian countries; at the same time, Russia can import from East Asia a huge range of commodity groups. The study reveals that reduction in tariff measures and non- tariff restrictions will not lead to a massive increase in Russian exports and changing in its trade and geographical structure. On the basis of prolongation of short-term trends the author identifies long-term challenges and opportunities for the Russian economy from trade liberalization with East Asian countries. According to the estimation results, the author suggests that in the current environment of global trade liberalization the tariff measures become less significant as a tool for redistribution of commodity flows

  11. METHODOLOGICAL PRINCIPLES AND METHODS OF TERMS OF TRADE STATISTICAL EVALUATION

    Directory of Open Access Journals (Sweden)

    N. Kovtun

    2014-09-01

    Full Text Available The paper studies the methodological principles and guidance of the statistical evaluation of terms of trade for the United Nations classification model – Harmonized Commodity Description and Coding System (HS. The practical implementation of the proposed three-stage model of index analysis and estimation of terms of trade for Ukraine's commodity-members for the period of 2011-2012 are realized.

  12. Working with Tajikistan to Develop its First National Commodity Nomenclature of Foreign Economic Activities

    OpenAIRE

    Aliev, Alijon; Konar-Leacy, Violane

    2017-01-01

    One of the most important instruments of trade facilitation is the commodity nomenclature, which provides a definition of all goods subject to foreign trade. The correct classification of goods forms the basis for determining the appropriate value of a good and for determining the customs duties imposed on a good on import or export. Customs statistics on foreign trade are derived from it,...

  13. Opportunities and barriers for international bioenergy trade

    International Nuclear Information System (INIS)

    Junginger, Martin; Dam, Jinke van; Zarrilli, Simonetta; Ali Mohamed, Fatin; Marchal, Didier; Faaij, Andre

    2011-01-01

    Recently, the international trade of various bioenergy commodities has grown rapidly, yet this growth is also hampered by some barriers. The aim of this paper is to obtain an overview of what market actors currently perceive as major opportunities and barriers for the development of international bioenergy trade. The work focuses on three bioenergy commodities: bioethanol, biodiesel and wood pellets. Data were collected through an internet-based questionnaire. The majority of the 141 respondents had an industrial background. Geographically, two-thirds were from (mainly Western) Europe, with other minor contributions from all other continents. Results show that import tariffs and the implementation of sustainability certification systems are perceived as (potentially) major barriers for the trade of bioethanol and biodiesel, while logistics are seen mainly as an obstacle for wood pellets. Development of technical standards was deemed more as an opportunity than a barrier for all commodities. Most important drivers were high fossil fuel prices and climate change mitigation policies. Concluding, to overcome some of the barriers, specific actions will be required by market parties and policy makers. Import tariffs for biofuels could be reduced or abolished, linked to multinational trade agreements and harmonization (including provisions on technical standards and sustainability requirements). - Research highlights: → We analyze main barriers for global trade of wood pellets, ethanol and biodiesel. → Import tariffs can be a major barrier for liquid biofuels trade. → Implementation of sustainability certification systems may hamper biofuels trade. → Logistics are seen mainly as an obstacle for the trade of wood pellets. → Development of technical standards are deemed an opportunity for bioenergy trade.

  14. 17 CFR 1.1 - Fraud in or in connection with transactions in foreign currency subject to the Commodity Exchange...

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Fraud in or in connection with... Securities Exchanges COMMODITY FUTURES TRADING COMMISSION GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT Definitions § 1.1 Fraud in or in connection with transactions in foreign currency subject to the...

  15. Virtual water trade and bilateral conflicts

    Science.gov (United States)

    De Angelis, Enrico; Metulini, Rodolfo; Bove, Vincenzo; Riccaboni, Massimo

    2017-12-01

    In light of growing water scarcity, virtual water, or the water embedded in key water-intensive commodities, has been an active area of debate among practitioners and academics alike. As of yet, however, there is no consensus on whether water scarcity affects conflict behavior and we still lack empirical research intending to account for the role of virtual water in affecting the odds of militarized disputes between states. Using quantitative methods and data on virtual water trade, we find that bilateral and multilateral trade openness reduce the probability of war between any given pair of countries, which is consistent with the strategic role of this important commodity and the opportunity cost associated with the loss of trade gains. We also find that the substantive effect of virtual water trade is comparable to that of oil and gas, the archetypal natural resources, in determining interstate conflicts' probability.

  16. 77 FR 46411 - Agency Information Collection Activities Under OMB Review

    Science.gov (United States)

    2012-08-03

    ... orderly procedures for membership and disciplinary actions. The Commission's review of decisions of... disciplinary, membership denial, registration, and member responsibility actions to the Commission for review... AGENCY: Commodity Futures Trading Commission. ACTION: Notice; Information Collection 3038-0043, Rules...

  17. Global Agricultural Trade and Developing Countries

    OpenAIRE

    Aksoy, M. Ataman; Beghin, John C.

    2005-01-01

    Global Agricultural Trade and Developing Countries explores the outstanding issues in global agricultural trade policy and evolving world production and trade patterns. This book presents research findings based on a series of commodity studies of significant economic importance to developing countries. Setting the stage with background chapters and investigations of cross-cutting issues, the authors describe trade and domestic policy regimes affecting agricultural and food markets and analyz...

  18. Recent history and geography of virtual water trade.

    Directory of Open Access Journals (Sweden)

    Joel A Carr

    Full Text Available The global trade of goods is associated with a virtual transfer of the water required for their production. The way changes in trade affect the virtual redistribution of freshwater resources has been recently documented through the analysis of the virtual water network. It is, however, unclear how these changes are contributed by different types of products and regions of the world. Here we show how the global patterns of virtual water transport are contributed by the trade of different commodity types, including plant, animal, luxury (e.g., coffee, tea, and alcohol, and other products. Major contributors to the virtual water network exhibit different trade patterns with regard to these commodity types. The net importers rely on the supply of virtual water from a small percentage of the global population. However, discrepancies exist among the different commodity networks. While the total virtual water flux through the network has increased between 1986 and 2010, the proportions associated with the four commodity groups have remained relatively stable. However, some of the major players have shown significant changes in the virtual water imports and exports associated with those commodity groups. For instance, China has switched from being a net exporter of virtual water associated with other products (non-edible plant and animal products typically used for manufacturing to being the largest importer, accounting for 31% of the total water virtually transported with these products. Conversely, in the case of The United states of America, the commodity proportions have remained overall unchanged throughout the study period: the virtual water exports from The United States of America are dominated by plant products, whereas the imports are comprised mainly of animal and luxury products.

  19. Dependence structure of the commodity and stock markets, and relevant multi-spread strategy

    Science.gov (United States)

    Kim, Min Jae; Kim, Sehyun; Jo, Yong Hwan; Kim, Soo Yong

    2011-10-01

    Understanding the dependence structure between the commodity and stock markets is a crucial issue in constructing a portfolio. It can also help us to discover new opportunities to implement spread trading using multiple assets classified in the two different markets. This study analyzed the dependence structure of the commodity and stock markets using the random matrix theory technique and network analysis. Our results show that the stock and commodity markets must be handled as completely separated asset classes except for the oil and gold markets, so the performance enhancement of the mean-variance portfolio is significant as expected. In light of the fact that WTI 1 month futures and four oil-related stocks are strongly correlated, they were selected as basic ingredients to complement the multi-spread convergence trading strategy using a machine learning technique called the AdaBoost algorithm. The performance of this strategy for non-myopic investors, who can endure short-term loss, can be enhanced significantly on a risk measurement basis.

  20. A Review of Economic Analyses on the World Trade Organization

    Directory of Open Access Journals (Sweden)

    Jee-Hyeong Park

    2002-06-01

    Full Text Available The GATT, which later became the WTO, has contributed to the expansion and activation of world trade by assisting trading partners to establish and enforce international trade rules through multilateral trade negotiations. Currently negotiations for new trade rules are contironing by launching Doha Round. This review intends to promote understanding of a basic analytical framework, upon which constructive debates and research have been conducted about the role of the WTO in the world trade regime. To achieve this goal, we provide a review of recent theoretical developments in studies on the role of the WTO regarding trade negotiations and rule enforcement, based on a commonly used model of trade in the literature. With respect to trade negotiations, we review a study of the effect of the reciprocity principle and most favored nation clause of the WTO on the outcome of trade negotiations and analyze the race-to-the-bottom concerns that the exclusive focus of the WTO on tariff negotiations will promote deterioration of environmental and labor standards. Regarding the rule of enforcement, we introduce the repeated game framework that is often used in the analysis of international trade rule enforcement, then discuss the studies on the role of safeguard provisions and the dispute settlement procedure of the WTO.

  1. The trading game : emissions trading schemes offer pollution as a market commodity

    Energy Technology Data Exchange (ETDEWEB)

    Bradbury, D.

    2005-07-01

    This paper discussed the market mechanisms for emissions trading. The concept emerged in signatory countries to the Kyoto Protocol in response to their commitment to reduce greenhouse gas (GHG) emissions. Emissions trading systems allow large polluters to buy and sell pollution credits in order to meet emission reduction targets. While member states in the European Union (EU) started trading in February 2005, Canada is still developing its own proposal that will be introduced in 2008 to correspond with the first phase of the Kyoto Protocol. In contrast to the European model that places absolute limits on GHG emissions, the Canadian system is intensity-based. Heavy polluters, known as large final emitters, will have to cut emissions of the 6 GHGs covered under the Kyoto Protocol as a percentage of their total industrial output. Companies that reduce their emissions more than their defined targets can trade the surplus as credits on the open domestic market. It was argued that this allows businesses to meet their own emissions targets while failing to contribute effectively to Canada's overall Kyoto target. In addition, in order to lessen the burden to industry, Canada has imposed a $15 cap on the price of credits, which is in contrast to the European system. It was argued that businesses in Europe will be more motivated to meet their targets because of the higher value on European pollution credits. With less onus on business in Canada to reduce absolute targets, the burden of reducing GHG emissions has shifted to federal taxpayers. The paper addressed some of the factors that led to Canada's decision to use an intensity-based system. One main factor was the refusal of the United States to ratify the Kyoto Protocol and the cost disadvantage this would create for Canadian firms. However, some argue that by paying more attention to energy use, companies can reduce emissions and increase shareholder value by achieving cost savings that are greater than the

  2. 17 CFR 140.91 - Delegation of authority to the Director of the Division of Trading and Markets.

    Science.gov (United States)

    2010-04-01

    ... Director of the Division of Trading and Markets. 140.91 Section 140.91 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION ORGANIZATION, FUNCTIONS, AND PROCEDURES OF THE COMMISSION Functions § 140.91 Delegation of authority to the Director of the Division of Trading and Markets. (a) The...

  3. Commodity profiles for selected metals

    International Nuclear Information System (INIS)

    Svoboda, O.; Wilson, B.M.

    1985-01-01

    This report describes the basic characteristics of 35 metals and gives the prices and production of these metals for the period 1979 to 1983/4. The description of each metal includes the ore grades and reserves, the major minerals in which the metal occurs, and the discovery, selected physical properties, sources, uses, substitutes, and effects on the environment of the metal. Graphs showing price and production cover the period 1950 to 1984, and possible future developments in these areas are forecast for each metal until the year 2000

  4. Trade liberalization and gender effects: a literature review for Colombia

    Directory of Open Access Journals (Sweden)

    Jairo Guillermo lsaza Castro

    2016-04-01

    Full Text Available This paper presents a literature review about thegender effects of trade liberalization with emphasisin Colombia. In addition, it reviews sorne theoreticalapproaches about trade and its interrelations withgender, poverty, inequality and labour markets.Based on the existing literature about the socialeffects of trade in Colombia, it concludes with sorneconsiderations for empirical research.

  5. Nigeria in World Ginger Trade: An analysis of performance from ...

    African Journals Online (AJOL)

    This study assessed the performance of Nigeria in the world ginger trade using available secondary data from the United Nations commodity trade statistics. The trade performance of Nigeria was based on world ginger export characteristics, value of trade and quantity traded from 2008 to 2012 assessed on yearly and ...

  6. 78 FR 76856 - Silicon Metal From Russia; Scheduling of a Full Five-Year Review Concerning the Antidumping Duty...

    Science.gov (United States)

    2013-12-19

    ... Russia; Scheduling of a Full Five-Year Review Concerning the Antidumping Duty Order on Silicon Metal From Russia AGENCY: United States International Trade Commission. ACTION: Notice. SUMMARY: The Commission... silicon metal from Russia would be likely to lead to continuation or recurrence of material injury within...

  7. International Trade Modelling Using Open Flow Networks: A Flow-Distance Based Analysis.

    Science.gov (United States)

    Shen, Bin; Zhang, Jiang; Li, Yixiao; Zheng, Qiuhua; Li, Xingsen

    2015-01-01

    This paper models and analyzes international trade flows using open flow networks (OFNs) with the approaches of flow distances, which provide a novel perspective and effective tools for the study of international trade. We discuss the establishment of OFNs of international trade from two coupled viewpoints: the viewpoint of trading commodity flow and that of money flow. Based on the novel model with flow distance approaches, meaningful insights are gained. First, by introducing the concepts of trade trophic levels and niches, countries' roles and positions in the global supply chains (or value-added chains) can be evaluated quantitatively. We find that the distributions of trading "trophic levels" have the similar clustering pattern for different types of commodities, and summarize some regularities between money flow and commodity flow viewpoints. Second, we find that active and competitive countries trade a wide spectrum of products, while inactive and underdeveloped countries trade a limited variety of products. Besides, some abnormal countries import many types of goods, which the vast majority of countries do not need to import. Third, harmonic node centrality is proposed and we find the phenomenon of centrality stratification. All the results illustrate the usefulness of the model of OFNs with its network approaches for investigating international trade flows.

  8. Modelling the rand and commodity prices: A Granger causality and cointegration analysis

    Directory of Open Access Journals (Sweden)

    Xolani Ndlovu

    2014-11-01

    Full Text Available This paper examines the ‘commodity currency’ hypothesis of the Rand, that is, the postulate that the currency moves in line with commodity prices, and analyses the associated causality using nominal data between 1996 and 2010. We address both the short run and long run relationship between commodity prices and exchange rates. We find that while the levels of the series of both assets are difference stationary, they are not cointegrated. Further, we find the two variables are negatively related, with strong and significant causality running from commodity prices to the exchange rate and not vice versa, implying exogeneity in the determination of commodity prices with respect to the nominal exchange rate. The strength of the relationship is significantly weaker than other OECD commodity currencies. We surmise that the relationship is dynamic over time owing to the portfolio-rebalance argument and the Commodity Terms of Trade (CTT effect and, in the absence of an error correction mechanism, this disconnect may be prolonged. For commodity and currency market participants, this implies that while futures and forward commodity prices may be useful leading indicators of future currency movements, the price risk management strategies may need to be recalibrated over time.

  9. Biological trade and markets.

    Science.gov (United States)

    Hammerstein, Peter; Noë, Ronald

    2016-02-05

    Cooperation between organisms can often be understood, like trade between merchants, as a mutually beneficial exchange of services, resources or other 'commodities'. Mutual benefits alone, however, are not sufficient to explain the evolution of trade-based cooperation. First, organisms may reject a particular trade if another partner offers a better deal. Second, while human trade often entails binding contracts, non-human trade requires unwritten 'terms of contract' that 'self-stabilize' trade and prevent cheating even if all traders strive to maximize fitness. Whenever trading partners can be chosen, market-like situations arise in nature that biologists studying cooperation need to account for. The mere possibility of exerting partner choice stabilizes many forms of otherwise cheatable trade, induces competition, facilitates the evolution of specialization and often leads to intricate forms of cooperation. We discuss selected examples to illustrate these general points and review basic conceptual approaches that are important in the theory of biological trade and markets. Comparing these approaches with theory in economics, it turns out that conventional models-often called 'Walrasian' markets-are of limited relevance to biology. In contrast, early approaches to trade and markets, as found in the works of Ricardo and Cournot, contain elements of thought that have inspired useful models in biology. For example, the concept of comparative advantage has biological applications in trade, signalling and ecological competition. We also see convergence between post-Walrasian economics and biological markets. For example, both economists and biologists are studying 'principal-agent' problems with principals offering jobs to agents without being sure that the agents will do a proper job. Finally, we show that mating markets have many peculiarities not shared with conventional economic markets. Ideas from economics are useful for biologists studying cooperation but need

  10. Price volatility, trading volume, and market depth in Asian commodity futures exchanges

    Directory of Open Access Journals (Sweden)

    Tanachote Boonvorachote

    2016-01-01

    Full Text Available This paper empirically investigates the impact of trading activity including trading volume and open interest on price volatility in Asian futures exchanges. Trading volume and open interest represent market information for investors. This study uses three different definitions of volatility: (1 daily volatility measured by close-to-close returns, (2 non-trading volatility measured by close-to-open returns, and (3 trading volatility measured by open-to-close returns. The impact of trading volume and open interest on price volatility is investigated. Following Bessembinder and Seguin (1993, volume and open interest are divided into expected and unexpected components. The GARCH (1,1 model is employed using expected and unexpected components of trading activity (volume and open interest as explanatory variables. The results show a positive contemporaneous relationship between expected and unexpected trading volume and volatility, while open interest mitigates volatility. Policy makers can use these findings to suggest to investors that trading activity (volume and open interest is a proxy of market information flowing to exchanges, especially unexpected trading activity. New information flowing to exchanges can mostly be noticed in unexpected trading volumes and open interests.

  11. 75 FR 24612 - Order Finding That the Zone 6-NY Financial Basis Contract Traded on the IntercontinentalExchange...

    Science.gov (United States)

    2010-05-05

    ... COMMODITY FUTURES TRADING COMMISSION Order Finding That the Zone 6-NY Financial Basis Contract.... Although Transco's Zone 6 hub is a major trading center for natural gas in the United States and, as noted... AGENCY: Commodity Futures Trading Commission. ACTION: Final order. SUMMARY: On October 9, 2009, the...

  12. Competitiveness of Slovak agri-food commodities in third country markets

    Directory of Open Access Journals (Sweden)

    Iveta Ubrežiová

    2012-01-01

    Full Text Available The impression of a single “European” market is gradually generated mainly due to action of the Common Agricultural Policy. Most of the agro-food complex enterprises see opportunities especially in the internationalization, globalization and regionalization in the agri-food sector, in pursuance of this, they are gradually smouldering innovative activities and trying to work on their competitive advantages. Based on the written we can say, that the issue of the competitiveness of enterprises, as well as of various commodities is in the current period highly current and adequate. The importance of the trade with so-called third countries is still increasing. This increase is mainly caused by the enlargement of the European Union in the term of foreign trade and it can be also confirmed from the results of the research. As the results of the research shows, the most important customers of the Slovak agri-food commodities are the Commonwealth of Independent States, where in the followed four-year period went within third countries at the average of 32.9% of the total Slovak agriculture export, also countries of EUROMED, where this proportion was 18.4%, and Croatia, with the proportion of 19.1%. These countries are the largest buyers of such Slovak agri-food commodities as are for example malt, chocolate and live cattle. On the other hand, Slovak republic is in agri-food import mostly dependent on such countries as are for example MERCOSUR countries, Mediterranean countries EUROMED, the African, Caribbean and Pacific (ACP, China, ASEAN and the U.S., which are the major suppliers of so-called „irreplaceable“ items, which Slovak republic can not produce.Results of the research also shows that while the importance of the trade with those countries (note- third countries is still increasing, Slovak export to third countries, in the contrast to its import, is still decreasing and that the most competitive agri-food commodities are for example live

  13. Mineral Commodity Summaries 2009

    Science.gov (United States)

    ,

    2009-01-01

    Each chapter of the 2009 edition of the U.S. Geological Survey (USGS) Mineral Commodity Summaries (MCS) includes information on events, trends, and issues for each mineral commodity as well as discussions and tabular presentations on domestic industry structure, Government programs, tariffs, 5-year salient statistics, and world production and resources. The MCS is the earliest comprehensive source of 2008 mineral production data for the world. More than 90 individual minerals and materials are covered by two-page synopses. For mineral commodities for which there is a Government stockpile, detailed information concerning the stockpile status is included in the two-page synopsis. Because specific information concerning committed inventory was no longer available from the Defense Logistics Agency, National Defense Stockpile Center, that information, which was included in earlier Mineral Commodity Summaries publications, has been deleted from Mineral Commodity Summaries 2009. National reserves and reserve base information for most mineral commodities found in this report, including those for the United States, are derived from a variety of sources. The ideal source of such information would be comprehensive evaluations that apply the same criteria to deposits in different geographic areas and report the results by country. In the absence of such evaluations, national reserves and reserve base estimates compiled by countries for selected mineral commodities are a primary source of national reserves and reserve base information. Lacking national assessment information by governments, sources such as academic articles, company reports, common business practice, presentations by company representatives, and trade journal articles, or a combination of these, serve as the basis for national reserves and reserve base information reported in the mineral commodity sections of this publication. A national estimate may be assembled from the following: historically reported

  14. Exchange Rate and Industrial Commodity Volatility Transmissions, Asymmetries and Hedging Strategies

    NARCIS (Netherlands)

    S.M. Hammoudeh (Shawkat); Y. Yuan (Yuan); M.J. McAleer (Michael)

    2010-01-01

    textabstractThis paper examines the inclusion of the dollar/euro exchange rate together with four important and highly traded commodities - aluminum, copper, gold and oil- in symmetric and asymmetric multivariate GARCH and DCC models. The inclusion of exchange rate increases the significant direct

  15. 17 CFR 240.12d2-1 - Suspension of trading.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Suspension of trading. 240... Securities Exchange Act of 1934 Suspension of Trading, Withdrawal, and Striking from Listing and Registration § 240.12d2-1 Suspension of trading. (a) A national securities exchange may suspend from trading a...

  16. THE IMPLEMENTATION OF EFFICIENT TRADE MATRIX AND GOLD RESERVE REQUIREMENT FOR COMMODITY TRADE AMONG ASEAN COUNTRIES

    Directory of Open Access Journals (Sweden)

    nurul anisak

    2017-06-01

    Full Text Available Objective - This study attempts to implement the efficient trade matrix among five selected ASEAN countries and its settlement by the gold reserve requirements through Multi-Bilateral Payments Arrangement (MBPA.Methods – The study is a qualitative research with analytic description. The purpose of this qualitative-descriptive study is to simulate the implementation of gold in the Multi-Bilateral Payment Arrangement among ASEAN countries using the current trade data.Results – This paper argues that the Southeast Asian countries can solve the problem through their internal coordination, particularly in terms of trade. One of the efforts is to reduce even eliminate the market risk by using the efficient payment arrangement.Conclusions – The study implied that the quantity amount of gold required to settle the trade balance will be reduced from the early gross payment. However, the ASEAN countries need to strengthen the cooperation among them through maximizing the trade relationship.

  17. A review on the factors affecting mite growth in stored grain commodities.

    Science.gov (United States)

    Collins, D A

    2012-03-01

    A thorough review of the literature has identified the key factors and interactions that affect the growth of mite pests on stored grain commodities. Although many factors influence mite growth, the change and combinations of the physical conditions (temperature, relative humidity and/or moisture content) during the storage period are likely to have the greatest impact, with biological factors (e.g. predators and commodity) playing an important role. There is limited information on the effects of climate change, light, species interactions, local density dependant factors, spread of mycotoxins and action thresholds for mites. A greater understanding of these factors may identify alternative control techniques. The ability to predict mite population dynamics over a range of environmental conditions, both physical and biological, is essential in providing an early warning of mite infestations, advising when appropriate control measures are required and for evaluating control measures. This information may provide a useful aid in predicting and preventing mite population development as part of a risk based decision support system.

  18. Minerals yearbook: The mineral industry of Brazil. 1988 international review

    International Nuclear Information System (INIS)

    Ensminger, H.R.

    1988-01-01

    Brazil's gross domestic product (GDP) grew only slightly in 1988 to $277 billion at current prices. The growth rate was the smallest registered since 1983, when the rate was minus 2.8%. The economy's performance was strongly influenced by a 2% to 3% decrease in industrial production and civil construction. The mineral industry, however, countered the downward trend in the industrial sector and grew a modest 1.4%. Topics discussed in the report include the following: Government policies and programs; Production; Trade; Commodity review--Metals (Aluminum, Aluminia, and Bauxite, Columbium, Copper, Gold, Iron and Steel, Manganese, Tin, Titanium); Industrial Minerals (Gem stones, Phosphate rock, Quartz); Mineral fuels (Coal, Natural gas, Petroleum, Nuclear power); Nonmineral energy sources (Alcohol, Hydroelectric)

  19. Shop Math for the Metal Trades. Combination Welder Apprentice, Machinist Helper, Precision Metal Finisher, Sheet Metal Worker Apprentice. A Report on Metal Trades Industry Certified, Single-Concept, Mathematical Learning Projects to Eliminate Student Math Fears.

    Science.gov (United States)

    Newton, Lawrence R.

    This project (1) identifies basic and functional mathematics skills (shop mathematics skills), (2) provides pretests on these functional mathematics skills, and (3) provides student learning projects (project sheets) that prepare metal trades students to read, understand, and apply mathematics and measuring skills that meet entry-level job…

  20. Review Existing and Proposed Emissions Trading Systems

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-07-01

    This paper reviews key design features of mandatory emissions trading systems that had been established or were under consideration in 2010, with a particular focus on implications for the energy sector. Putting a price on greenhouse gas emissions is a cornerstone policy in climate change mitigation. To this end, many countries have implemented or are developing domestic emissions trading systems.

  1. Trade and investment liberalization and Asia's noncommunicable disease epidemic: a synthesis of data and existing literature.

    Science.gov (United States)

    Baker, Phillip; Kay, Adrian; Walls, Helen

    2014-09-12

    Trade and investment liberalization (trade liberalization) can promote or harm health. Undoubtedly it has contributed, although unevenly, to Asia's social and economic development over recent decades with resultant gains in life expectancy and living standards. In the absence of public health protections, however, it is also a significant upstream driver of non-communicable diseases (NCDs) including cardiovascular disease, cancer and diabetes through facilitating increased consumption of the 'risk commodities' tobacco, alcohol and ultra-processed foods, and by constraining access to NCD medicines. In this paper we describe the NCD burden in Asian countries, trends in risk commodity consumption and the processes by which trade liberalization has occurred in the region and contributed to these trends. We further establish pressing questions for future research on strengthening regulatory capacity to address trade liberalization impacts on risk commodity consumption and health. A semi-structured search of scholarly databases, institutional websites and internet sources for academic and grey literature. Data for descriptive statistics were sourced from Euromonitor International, the World Bank, the World Health Organization, and the World Trade Organization. Consumption of tobacco, alcohol and ultra-processed foods was prevalent in the region and increasing in many countries. We find that trade liberalization can facilitate increased trade in goods, services and investments in ways that can promote risk commodity consumption, as well as constrain the available resources and capacities of governments to enact policies and programmes to mitigate such consumption. Intellectual property provisions of trade agreements may also constrain access to NCD medicines. Successive layers of the evolving global and regional trade regimes including structural adjustment, multilateral trade agreements, and preferential trade agreements have enabled transnational corporations that

  2. A Review of Economic Analyses on the World Trade Organization

    OpenAIRE

    Jee-Hyeong Park

    2002-01-01

    The GATT, which later became the WTO, has contributed to the expansion and activation of world trade by assisting trading partners to establish and enforce international trade rules through multilateral trade negotiations. Currently negotiations for new trade rules are contironing by launching Doha Round. This review intends to promote understanding of a basic analytical framework, upon which constructive debates and research have been conducted about the role of the WTO in the world trade re...

  3. Market risk in commodity markets: a VaR approach

    International Nuclear Information System (INIS)

    Giot, P.

    2003-01-01

    We put forward Value-at-Risk models relevant for commodity traders who have long and short trading positions in commodity markets. In a 5-year out-of-sample study on aluminium, copper, nickel, Brent crude oil and WTI crude oil daily cash prices and cocoa nearby futures contracts, we assess the performance of the RiskMetrics, skewed Student APARCH and skewed student ARCH models. While the skewed Student APARCH model performs best in all cases, the skewed Student ARCH model delivers good results and its estimation does not require non-linear optimization procedures. As such this new model could be relatively easily integrated in a spreadsheet-like environment and used by market practitioners. (author)

  4. Market risk in commodity markets. A VaR approach

    Energy Technology Data Exchange (ETDEWEB)

    Giot, Pierre [Department of Business Administration and CEREFIM at University of Namur, Rempart de la Vierge, 8, 5000 Namur (Belgium); Laurent, Sebastien [Center for Operations Research and Econometrics (CORE) at Universite Catholique de Louvain, Louvain (Belgium)

    2003-09-01

    We put forward Value-at-Risk models relevant for commodity traders who have long and short trading positions in commodity markets. In a 5-year out-of-sample study on aluminium, copper, nickel, Brent crude oil and WTI crude oil daily cash prices and cocoa nearby futures contracts, we assess the performance of the RiskMetrics, skewed Student APARCH and skewed student ARCH models. While the skewed Student APARCH model performs best in all cases, the skewed Student ARCH model delivers good results and its estimation does not require non-linear optimization procedures. As such this new model could be relatively easily integrated in a spreadsheet-like environment and used by market practitioners.

  5. Market risk in commodity markets. A VaR approach

    International Nuclear Information System (INIS)

    Giot, Pierre; Laurent, Sebastien

    2003-01-01

    We put forward Value-at-Risk models relevant for commodity traders who have long and short trading positions in commodity markets. In a 5-year out-of-sample study on aluminium, copper, nickel, Brent crude oil and WTI crude oil daily cash prices and cocoa nearby futures contracts, we assess the performance of the RiskMetrics, skewed Student APARCH and skewed student ARCH models. While the skewed Student APARCH model performs best in all cases, the skewed Student ARCH model delivers good results and its estimation does not require non-linear optimization procedures. As such this new model could be relatively easily integrated in a spreadsheet-like environment and used by market practitioners

  6. 17 CFR 242.302 - Recordkeeping requirements for alternative trading systems.

    Science.gov (United States)

    2010-04-01

    ... alternative trading systems. 242.302 Section 242.302 Commodity and Securities Exchanges SECURITIES AND... SECURITY FUTURES Regulation Ats-Alternative Trading Systems § 242.302 Recordkeeping requirements for alternative trading systems. To comply with the condition set forth in paragraph (b)(8) of § 242.301, an...

  7. Agricultural Trade Liberalization and the Least Developed Countries

    NARCIS (Netherlands)

    Koning, N.B.J.; Pinstrup-Andersen, P.

    2007-01-01

    Although the current round of international trade negotiations was called a `Development Round¿, very little was accomplished before the negotiations stalled in mid-2006. Developing countries as a group stand to gain very substantially from trade reform in agricultural commodities. It is less clear

  8. Law [Review of: World trade report 2011: the WTO and preferential trade agreements: from co-existence to coherence

    NARCIS (Netherlands)

    Mathis, J.H.

    2012-01-01

    The World Trade Review asked distinguished scholars from the three different fields of economics (Pravin Krishna), political science (Edward D. Mansfield) and law (James H. Mathis) to independently review the WTO's annual World Trade Report for 2011, the theme of which is The WTO and Preferential

  9. Occurrence of ochratoxin A in commodities and processed food - A review of EU occurrence data

    DEFF Research Database (Denmark)

    Jørgensen, Kevin

    2005-01-01

    A brief review on the occurrence of ochratoxin A in commodities and processed food on the European market (meat and meat products, cereal and cereal products, spices, beer, cocoa and derived products, coffee, wine, dried vine fruits, grape juice) is given in an historical perspective based on two...

  10. Current and potential trade in horticultural products irradiated for phytosanitary purposes

    International Nuclear Information System (INIS)

    Bustos-Griffin, Emilia; Hallman, Guy J.; Griffin, Robert L.

    2012-01-01

    The current status of trade in horticultural products irradiated for phytosanitary purposes is examined, including trends, strengths and weaknesses. A strategy is proposed to take advantage of the best future opportunities for increasing trade in irradiated horticultural products by identifying best possibilities for expanding both the number and volume of commodities for irradiation and then applying appropriate business criteria in a general analysis of the commodities, commercial scenarios, and geographic regions where the greatest potential exists for expansion. The results show that fresh fruits such as mango, papaya, citrus, grapes, and vegetables such as tomatoes, onions, asparagus, garlic, and peppers from Asia and the Americas show the greatest potential. Substantial opportunities for additional growth exist, especially as regulatory conditions become more favorable. - Highlights: ► This research examined the trade in horticultural products irradiated for Phytosanitary purposes. ► Paper describes strategies for enhancing trade in irradiated horticultural products. ► Results identify commodities and regions with the greatest potential. ► Additional growth potential exists, especially as regulatory conditions become more favorable.

  11. Capture, Movement, Trade, and Consumption of Mammals in Madagascar

    Science.gov (United States)

    Reuter, Kim E.; Randell, Haley; Wills, Abigail R.; Janvier, Totozafy Eric; Belalahy, Tertius Rodriguez; Sewall, Brent J.

    2016-01-01

    Wild meat trade constitutes a threat to many animal species. Understanding the commodity chain of wild animals (hunting, transportation, trade, consumption) can help target conservation initiatives. Wild meat commodity chain research has focused on the formal trade and less on informal enterprises, although informal enterprises contribute to a large portion of the wild meat trade in sub-Saharan Africa. We aimed to provide a more comprehensive understanding of the formal and informal components of these commodity chains by focusing on the mammalian wild meat trade in Madagascar. Our objectives were to: (1) identify hunting strategies used to capture different wild mammals; (2) analyze patterns of movement of wild meat from the capture location to the final consumer; (3) examine wild meat prices, volumes, and venues of sale; and (4) estimate the volume of wild meat consumption. Data were collected in May-August 2013 using semi-structured interviews with consumers (n = 1343 households, 21 towns), meat-sellers (n = 520 restaurants, open-air markets stalls, and supermarkets, 9 towns), and drivers of inter-city transit vehicles (n = 61, 5 towns). We found that: (1) a wide range of hunting methods were used, though prevalence of use differed by animal group; (2) wild meat was transported distances of up to 166 km to consumers, though some animal groups were hunted locally (Madagascar is also likely more formalized than previously thought. PMID:26926987

  12. Modernisation picks up in commodities exchange market%中国商品交易市场现代化步伐提速

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    @@ With changes in the market circulation environment and the end of a theree-year protection after its accession to the World Trade Organisation, China's commodities trade aggregate has been growing steadily and the size of individual markets has been increasing gradually.In 2004, the number of commodity markets with annual turnover exceeding RMB 100 million jumped to 3,365,100 more than in the previous year; their turnover, at RMB2.61027 trillion, surged. 21.3%. The pace of modernisation of the country's commodity markets has picked up, with their business operations becoming more international, more information-based, larger in scale and functioning as groups.

  13. Energy trading

    International Nuclear Information System (INIS)

    Glachant, J.M.; Kimman, R.; Schweickardt, H.E.

    2001-05-01

    This document brings together 18 testimonies of experts about energy trading: 1 - the energy trading experience on European deregulated markets: structure of deregulated energy markets in Europe, case study: a two years experience of a power exchange in western Europe, case study: European energy exchanges (experience of spot and future trading), case study: risk management on energy deregulated markets; 2 - the trading activity environment and realities in France: the French electrical law and the purchase for resale, experience feedback: status after 3 months of trading in France (the first experience of a French producer), the access to the power transportation network, which legal constraints for trading in France, the access of eligible clients to the French power market, conditions of implementation of a power exchange market in France, which real trading possibilities in France for producers and self-producers in the legal frame, case study: the role of trading in the company (main part or link to process), convergence of gas and electricity markets, gas-electricity trading: which pricing models; 3 - risk management and use of new technologies potentiality, the results outside the French borders: case study: what differences between the European and US markets, prices volatility and commodity risk management: towards the on-line trading, role and developments of E-business in energy trading, how to simplify trade in a liberalized market. (J.S.)

  14. Performing Free Radioactive Certificate as an Effort to Protect Import and Export Commodities in Globalization Era

    International Nuclear Information System (INIS)

    Kunto-Wiharto; Syarbaini

    2001-01-01

    Several activities such as nuclear weapon tests, nuclear fuel reprocessing and nuclear accidents have caused radioactive contamination in local, regional and global environment. In globalization and free trade era, every country will be faced to the condition with the movable commodities from and to another countries. Global contamination through import and export commodities is a problem will be found every country in the future. Therefore, performing free radioactive certification on import and export commodities must be carried out to protect a member of public and environment from radioactive contamination. (author)

  15. Fair Trade: Social Regulation in Global Food Markets

    Science.gov (United States)

    Raynolds, Laura T.

    2012-01-01

    This article analyzes the theoretical and empirical parameters of social regulation in contemporary global food markets, focusing on the rapidly expanding Fair Trade initiative. Fair Trade seeks to transform North/South relations by fostering ethical consumption, producer empowerment, and certified commodity sales. This initiative joins an array…

  16. Trade Fairs, Markets and Fields

    DEFF Research Database (Denmark)

    Moeran, Brian

    2011-01-01

    This article describes how trade fairs act as a framing mechanism that enables participants to come together for the exchange of goods and services and to perceive themselves as acting in a social field. This way, trade fairs make markets possible. Based on ongoing participant observation at book....../material, social, situational, content/appreciative, and the use value of goods, values which are then equated with a commodity exchange value in the form of price. Trade fairs frame order, but they are also events where the respective field might be reconfigurated. The contingency of personal interaction...

  17. 17 CFR 242.303 - Record preservation requirements for alternative trading systems.

    Science.gov (United States)

    2010-04-01

    ... requirements for alternative trading systems. 242.303 Section 242.303 Commodity and Securities Exchanges... REQUIREMENTS FOR SECURITY FUTURES Regulation Ats-Alternative Trading Systems § 242.303 Record preservation requirements for alternative trading systems. (a) To comply with the condition set forth in paragraph (b)(9) of...

  18. Howell John HARRIS. Bloodless Victories : The Rise and Fall of the Open Shop in the Philadelphia Metal Trades, 1890-1940.

    Directory of Open Access Journals (Sweden)

    Joseph A. McCartin

    2006-03-01

    Full Text Available Howell John Harris’s magisterial history of labor relations in the Philadelphia metal trades has provoked surprisingly little discussion thus far in the United States. Three years after its publication, the book had garnered only a smattering of reviews by labor historians. Indeed, the U.S. journal of record, Labor History, had yet to review the book. Nor had this long-awaited volume by a well-known and passionate participant in U.S. labor historians’ debates drawn the attention of scholarly ...

  19. The Current Status and Prospects for Development of International Trade in Goods

    Directory of Open Access Journals (Sweden)

    Kovtun Tamara D.

    2018-03-01

    Full Text Available The article is aimed at analyzing the current status and determining prospects for international trade in goods. The dynamics of international trade in goods are characterized and the reasons for its slowdown are disclosed. A considerable attention is paid to the analysis of the commodity and geographical structure of the international trade in goods. On the basis of the conducted research the new tendencies and peculiarities of development of the international trade in goods in the contemporary conditions are disclosed. In particular, the authors consider the tendency of increasing the influence of non-tariff barriers on the dynamics of the international commodity exchange. Based on the calculation of the export quota as an indicator of the intensity of foreign trade in goods, conclusions have been drawn about the degree of openness of national economies in the current conditions. The authors have noted that in the coming years the growth of physical and value volumes of the world commodity exports is projected in the conditions of growth of the world prices for raw products. It has been determined that, most likely, further development of the international trade in goods will take place in conditions of deepening of trade integration at the mega-regional level. An increase in the number of participants in the international trade in goods is also expected in the context of further spread of e-commerce in the developing countries.

  20. New Commodity Services System increases gas bill for clients

    International Nuclear Information System (INIS)

    Koevoet, H.

    2003-01-01

    The Dutch company Gasunie Trade and Supply will replace the Commodity Services System (CDS, abbreviated in Dutch) January 1, 2004. This will result in a higher gas bill for almost all their clients that are expected to use more than 1 million m 3 natural gas per year. An overview is given of the principles of the old and the new pricing system [nl

  1. 77 FR 55903 - Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship...

    Science.gov (United States)

    2012-09-11

    ... Vol. 77 Tuesday, No. 176 September 11, 2012 Part II Commodity Futures Trading Commission 17 CFR Part 23 Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship... FUTURES TRADING COMMISSION 17 CFR Part 23 RIN 3038-AC96 Confirmation, Portfolio Reconciliation, Portfolio...

  2. Shrimp viral diseases, import risk assessment and international trade.

    Science.gov (United States)

    Karunasagar, Iddya; Ababouch, Lahsen

    2012-09-01

    Shrimp is an important commodity in international trade accounting for 15 % in terms of value of internationally traded seafood products which reached $102.00 billion in 2008. Aquaculture contributes to over 50 % of global shrimp production. One of the major constraints faced by shrimp aquaculture is the loss due to viral diseases like white spot syndrome, yellow head disease, and Taura syndrome. There are several examples of global spread of shrimp diseases due to importation of live shrimp for aquaculture. Though millions of tonnes of frozen or processed shrimp have been traded internationally during the last two decades despite prevalence of viral diseases in shrimp producing areas in Asia and the Americas, there is no evidence of diseases having been transmitted through shrimp imported for human consumption. The guidelines developed by the World Animal Health Organisation for movement of live animals for aquaculture, frozen crustaceans for human consumption, and the regulations implemented by some shrimp importing regions in the world are reviewed.

  3. Keunggulan Komparatif Indonesia Pada Sepuluh Komoditi Unggulan ASEAN Tahun 1997 - 2009

    Directory of Open Access Journals (Sweden)

    Briliana Wellyanti

    2015-11-01

    Full Text Available Economic growth is one indicator of a country's welfare. The massive economic growth is the goal of whole country. One way to improve economic growth is international trade. Indonesia is one country with an open economy so that it can be said Indonesia also commit the international trade. One of Indonesia's largest export destination is the ASEAN countries. There are some commodities that have the largest contribution in exports among ASEAN countries. Commodities are grouped into the Top Ten ASEAN Trade Commodity. Top Ten ASEAN Trade Commodity is ten most commodities needed by ASEAN countries seen from the value of exports and imports that occur between ASEAN countries in the period 1997-2009. Departing from the above background, the purpose of this study is to see how the development of the Top Ten ASEAN Trade Commodity during the period 1997-2009, how the level of comparative advantage in the Top Ten ASEAN Indonesia Commodity Trade in the period 1997-2009 and determine the development of the Top Ten ASEAN Trade Commodity Indonesia in the period 1997-2009 based on the analysis of RTA (Relative Revealed Trade Advantage. The method used in this research is descriptive analysis method and analysis of comparative advantage / RTA analysis (Relative Revealed Trade Advantage. Based on the analysis of comparative advantage, it can be concluded that the commodities which have a comparative advantage based on the analysis of the RTA is a commodity with HS15 code (fats and animal or vegetable oils and their cleavage products; processed edible fats; animal or vegetable waxes and commodities with HS Code 71 (natural pearls, cultured pearls, precious or semi-precious stones, precious metals, precious metals, imitation jewelery, coins. The leading commodities (HS codes 71 and 15 is at the stage of maturity / growth (advanced. This shows that Indonesia can meet domestic demand for commodities 71 and 15 and able to export to meet the needs of overseas.

  4. Trade Performance of Fruit and Vegetable Industry in Selected ASEAN Countries

    OpenAIRE

    Emmy, F.A.; Mohd Mansor, Ismail

    2009-01-01

    This paper examines the trade performance for thirteen commodities in the fruit and vegetable industry in relation to that of selected ASEAN countries (Philippines, Indonesia, Singapore and Thailand), based on Revealed Comparative Advantage (RCA) indicator. The analysis shows that Singapore has comparative advantage in 5 commodities (ground-nuts, hazelnuts, plums, apricots and walnuts), Philippines has comparative advantage in 3 commodities (tomatoes nes prepared or preserved, tomatoes whole ...

  5. Аpplication of markowitz portfolios based on currency baskets to commodity trade

    OpenAIRE

    Duda, T.; Augustynek, А.

    2012-01-01

    Розглянуто оптимальну структуру кошика валют для мінімізації ризиків торговельних операцій. Проаналізовано принципи побудови оптимального кошика валют, розроблено засадні положення оптимального портфеля Марковіца. Надано пропозиції щодо урахування периферійних валют у структурі платіжного кошика. The article proposes an application of currency basket payments together with Markovitz portfolio idea, to reduce a foreword transactions risk in commodity trade. It follows the line of earlier pa...

  6. 17 CFR 240.11a-1 - Regulation of floor trading.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Regulation of floor trading... Securities Exchange Act of 1934 Adoption of Floor Trading Regulation (rule 11a-1) § 240.11a-1 Regulation of floor trading. (a) No member of a national securities exchange, while on the floor of such exchange...

  7. Globalisation of water resources: International virtual water flows in relation to international crop trade

    NARCIS (Netherlands)

    Hoekstra, Arjen Ysbert; Hung, P.Q.

    2005-01-01

    The water that is used in the production process of a commodity is called the ‘virtual water’ contained in the commodity. International trade of commodities brings along international flows of virtual water. The objective of this paper is to quantify the volumes of virtual water flows between

  8. Review of inter-utility trade in electricity

    International Nuclear Information System (INIS)

    1994-01-01

    In 1992, Canada's National Energy Board released two discussion papers on inter-utility trade. Responses to the papers were received from utilities, government agencies, and other interested parties with regard to questions concerning measures that could be taken to enhance interprovincial trade in electricity and to enable buyers and sellers of electricity to obtain commercial access to available transmission capacity through intermediate provinces for wheeling purposes. The Board's review had estimated long-term net benefits from enhanced inter-utility cooperation at $23-32.5 billion by the year 2000 from such types of transactions as seasonal diversity exchanges and long-term firm sales. Seven types of options to achieve enhanced inter-utility trade were identified. Most of the respondent utilities and provinces that have direct access to external markets tended to prefer the status quo, opposing mandated solutions but supporting (or at least not opposing) federal monitoring of progress on enhanced inter-utility cooperation. Provinces and utilities without direct access to external markets tended to support (as a last resort) mandated solutions to disputes concerning electricity trade. Since the Board review, important events in the North American electricity supply industry have occurred; these are described, focusing on the US Energy Policy Act that gives powers to order transmission access. The formation by US utilities of regional transmission groups (RTGs) with federal encouragement is discussed, along with the implications for Canadian utilities that may want to become members of particular RTGs. The advantages and drawbacks of selecting the various options for enhancing inter-utility trade are then summarized. 1 tab

  9. Clinical assessment, design and performance testing of mobile shower commodes for adults with spinal cord injury: an exploratory review.

    Science.gov (United States)

    Friesen, Emma; Theodoros, Deborah; Russell, Trevor

    2013-07-01

    The purpose of this article is to explore evidence concerning clinical assessment, design and performance testing of mobile shower commodes used by adults with spinal cord injury (SCI). Searches of electronic databases, conference proceedings and key journals were undertaken with no restriction on language or study design. Keywords included spinal cord injury, lesion, sanichair, sanitary chair, shower chair, bowel chair and commode. A total of 20 publications were included in this review. Common approaches to clinical assessments were questionnaires and observational analysis to assess bowel care routines, function and skin integrity. Design features addressed access for bowel care, postural support, transfers, stability, use in wet environments and skin integrity. Objective performance measures addressed requirements for static stability, backward-sloping seat angles, arm supports and seat materials. Evidence reviewed was of low methodological quality and lacking in validated instruments to guide clinical practice. Further high-quality research is needed to identify bathing, showering and personal hygiene tasks affecting mobile shower commodes use and to develop validated clinical assessment tools. Performance testing to published standards is also needed.

  10. Externalities, Border Trade and Illegal Production: An Optimal Tax Approach to Alcohol Policy

    OpenAIRE

    Aronsson, Thomas; Sjögren, Tomas

    2005-01-01

    This paper deals with optimal income and commodity taxation in an economy, where alcohol is an externality-generating consumption good. In our model, alcohol can be bought domestically, imported (via border trade) or produced illegally. Border trade implies an incentive to set the domestic alcohol tax below the marginal social damage of alcohol, and to tax (subsidize) commodities which are complementary with (substitutable for) alcohol. In addition, since leisure and alcohol consumption are g...

  11. 77 FR 72325 - North American Free-Trade Agreement, Article 1904 NAFTA Panel Reviews; Request for Panel Review

    Science.gov (United States)

    2012-12-05

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free-Trade Agreement... Free Trade Agreement. Panel Review was requested of the Final resolution of the Countervailing Duty... 19 of the North American Free-Trade Agreement (``Agreement'') established a mechanism to replace...

  12. 75 FR 13494 - North American Free-Trade Agreement, Article 1904; NAFTA Panel Reviews; Request for Panel Review

    Science.gov (United States)

    2010-03-22

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free-Trade Agreement... Secretariat pursuant to Article 1904 of the North American Free Trade Agreement. Panel Review was requested of... Section, International Trade Administration, Department of Commerce. ACTION: Notice of First Request for...

  13. 76 FR 10005 - North American Free Trade Agreement, Article 1904 NAFTA Panel Reviews; Request for Panel Review

    Science.gov (United States)

    2011-02-23

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free Trade Agreement... Secretariat pursuant to Article 1904 of the North American Free Trade Agreement. Panel Review was requested of...-5438. SUPPLEMENTARY INFORMATION: Chapter 19 of the North American Free Trade Agreement (``Agreement...

  14. 77 FR 66798 - North American Free-Trade Agreement, Article 1904; NAFTA Panel Reviews; Request for Panel Review

    Science.gov (United States)

    2012-11-07

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free-Trade Agreement... Trade Agreement. Panel Review was requested of the Final Results of the Antidumping Administrative... INFORMATION: Chapter 19 of the North American Free-Trade Agreement (``Agreement'') established a mechanism to...

  15. 76 FR 72677 - North American Free-Trade Agreement, Article 1904 NAFTA Panel Reviews; Request for Panel Review

    Science.gov (United States)

    2011-11-25

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free-Trade Agreement... Trade Agreement. Panel review was requested of the final determination of the effective examination and... 20230, (202) 482-5438. SUPPLEMENTARY INFORMATION: Chapter 19 of the North American Free-Trade Agreement...

  16. Metal prices in the United States through 2010

    Science.gov (United States)

    ,

    2013-01-01

    This report, which updates and revises the U.S. Geological Survey (USGS) (1999) publication, “Metal Prices in the United States Through 1998,” presents an extended price history for a wide range of metals available in a single document. Such information can be useful for the analysis of mineral commodity issues, as well as for other purposes. The chapter for each mineral commodity includes a graph of annual current and constant dollar prices for 1970 through 2010, where available; a list of significant events that affected prices; a brief discussion of the metal and its history; and one or more tables that list current dollar prices. In some cases, the metal prices presented herein are for some alternative form of an element or, instead of a price, a value, such as the value for an import as appraised by the U.S. Customs Service. Also included are the prices for steel, steel scrap, and iron ore—steel because of its importance to the elements used to alloy with it, and steel scrap and iron ore because of their use in steelmaking. A few minor metals, such as calcium, potassium, sodium, strontium, and thorium, for which price histories were insufficient, were excluded. The annual prices given may be averages for the year, yearend prices, or some other price as appropriate for a particular commodity. Certain trade journals have been the source of much of this price information—American Metal Market, ICIS Chemical Business, Engineering and Mining Journal, Industrial Minerals, Metal Bulletin, Mining Journal, Platts Metals Week, Roskill Information Services Ltd. commodity reports, and Ryan’s Notes. Price information also is available in minerals information publications of the USGS (1880–1925, 1996–present) and the U.S. Bureau of Mines (1926–95), such as Mineral Commodity Summaries, Mineral Facts and Problems, Mineral Industry Surveys, and Minerals Yearbook. In addition to prices themselves, these journals and publications contain information relevant to

  17. 76 FR 16728 - North American Free Trade Agreement, Article 1904; NAFTA Panel Reviews; Request for Panel Review

    Science.gov (United States)

    2011-03-25

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free Trade Agreement... American Free Trade Agreement. Panel Review was requested of the U.S. Department of Commerce's final... INFORMATION: Chapter 19 of the North American Free Trade Agreement (``Agreement'') established a mechanism to...

  18. 76 FR 42115 - North American Free-Trade Agreement, Article 1904 NAFTA Panel Reviews; Request for Panel Review

    Science.gov (United States)

    2011-07-18

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free-Trade Agreement... Free Trade Agreement. Panel Review was requested of the Final Results of the 2008- 2009 and 2009-2010.... SUPPLEMENTARY INFORMATION: Chapter 19 of the North American Free Trade Agreement (``Agreement'') established a...

  19. Forecast Model of Russia’s Gross Domestic Product Depending on Financial Instruments of Trade in Energy and Commodities

    Directory of Open Access Journals (Sweden)

    Samkov T.L.

    2018-04-01

    Full Text Available Methodology of forecasting the gross domestic product (GDP growth for complex socio-economic systems is projected on economic conditions of the Russian Federation. The most important factors affecting GDP change, development of a GDP forecast econometric model for the Russian economy and the methodology of the model use are identified. The model is used as a source of information necessary for the analysis of territorial multi-sectoral objects (ATMO model which we developed. ATMO model is the model of planning regional sectoral production systems of independent corporate participants and can predict their behavior utilizing game approach. Non-systemic "signal" information (GDP growth rate is necessary to change the strategies. The factors for predicting are the primary and secondary financial instruments of trade in energy and raw commodities. The principle of behavioral imitation is introduced for the first time in relation to a class of such tasks. Technology of decisions making corresponds to the knowledge of managers and officials rather than to that of analysts. The forecast model reflects the "ordinary" view of mentioned decision makers on the nature of GDP dependence on trade in specific goods (oil, gas, grain, gold, silver, copper, etc.. Almost any company leader will be able to use this set to forecast GDP as guidelines for further development of the enterprise. The ATMO model makes it possible to influence the economy to achieve macroeconomic goals and gives the opportunity to increase the available volumes of energy resources for export, e.g., for functioning of the emerging gas hub in EU.

  20. 77 FR 63291 - Certain Orange Juice From Brazil: Final Results of Antidumping Duty Administrative Review and...

    Science.gov (United States)

    2012-10-16

    ... administrative review (i.e., Fischer S.A. Comercio, Industria, and Agricultura (Fischer), Louis Dreyfus..., Industria, and Agricultura 4.72 Louis Dreyfus Commodities Agroindustrial S.A 20.34 Montecitrus Trading S.A...

  1. 76 FR 81914 - Export Trade Certificate of Review

    Science.gov (United States)

    2011-12-29

    ... read ``LD Commodities Rice Merchandising LLC, Wilton, Connecticut, and LD Commodities Interior Rice Merchandising LLC, Kansas City, Missouri (subsidiaries of Louis Dreyfus Commodities LLC, Wilton, Connecticut...

  2. Foreign experience of regulating international trade transactions

    Directory of Open Access Journals (Sweden)

    Klymenko L. V.

    2015-05-01

    Full Text Available The article deals with the international experience of state regulating international trade transactions; nature, directions and contradictions of contemporary processes of globalization are defined; components of regulatory and incentive means in system of state supporting foreign trade activity of commodity producers are considered; general provisions for the improvement of state regulation mechanisms of export-import activities in Ukraine are determined.

  3. 78 FR 57838 - North American Free Trade Agreement Binational Panel Reviews

    Science.gov (United States)

    2013-09-20

    ... DEPARTMENT OF COMMERCE International Trade Administration [Secretariat File No. USA-MEX-2011- 1904-02] North American Free Trade Agreement Binational Panel Reviews AGENCY: NAFTA Secretariat, United... Decision and Order of the North American Free Trade Agreement (NAFTA) Binational Panel dated August 6, 2013...

  4. 17 CFR 240.12f-3 - Termination or suspension of unlisted trading privileges.

    Science.gov (United States)

    2010-04-01

    ... unlisted trading privileges. 240.12f-3 Section 240.12f-3 Commodity and Securities Exchanges SECURITIES AND... Regulations Under the Securities Exchange Act of 1934 Unlisted Trading § 240.12f-3 Termination or suspension of unlisted trading privileges. (a) The issuer of any security for which unlisted trading privileges...

  5. Global oil prices, macroeconomic fundamentals and China's commodity sector comovements

    International Nuclear Information System (INIS)

    Chen, Peng

    2015-01-01

    This paper investigates the common movements of commodity sectors in China as well as the economic underpinnings of the comovements. We employ a Bayesian dynamic latent factor model to disentangle the common and idiosyncratic sector-specific factors of the prices of a group of China's commodity sectors: petrochemicals, grains, energy, non-ferrous metals, oils & fats, and softs. The results indicate that the common factor accounts for a significant portion of the fluctuations of China's commodity sectors, providing evidence of the strong commodity sector comovements in China. We further use a VAR model to link the common movements across China's commodity sectors to the underlying determinants, including global oil price shocks and domestic macroeconomic fluctuations. We find that the global oil price shocks have strong effects on the common movements across commodity sectors in China in addition to its domestic macroeconomic fluctuations at long horizons. However, at short horizons, the common movements across commodity sectors in China respond more strongly to the global oil shocks than to its domestic macroeconomic fluctuations. - Highlights: • We examine the comovements of commodity prices at the industry level in China. • The common factor accounts for a significant portion of commodity sector fluctuations. • We investigate the joint impacts of global oil price shocks and domestic macro fluctuations on the comovements. • The global oil price shocks have persistent and strong effects on the comovements. • The impacts of domestic macro fluctuations on the comovements differ at short and long horizons.

  6. 75 FR 34983 - Order (1) Pursuant to Section 4(c) of the Commodity Exchange Act, Permitting the Kansas City...

    Science.gov (United States)

    2010-06-21

    ... Act, Permitting the Kansas City Board of Trade Clearing Corporation To Clear Over-the-Counter Wheat Calendar Swaps and (2) Pursuant to Section 4d of the Commodity Exchange Act, Permitting Customer Positions... contract market, and its wholly- owned subsidiary corporation, the Kansas City Board of Trade Clearing...

  7. Trading away what kind of jobs? Globalization, trade and tasks in the US economy.

    Science.gov (United States)

    Kemeny, Thomas; Rigby, David

    2012-04-01

    Economists and other social scientists are calling for a reassessment of the impact of international trade on labor markets in developed and developing countries. Classical models of globalization and trade, based upon the international exchange of finished goods, fail to capture the fragmentation of much commodity production and the geographical separation of individual production tasks. This fragmentation, captured in the growing volume of intra-industry trade, prompts investigation of the effects of trade within, rather than between, sectors of the economy. In this paper we examine the relationship between international trade and the task structure of US employment. We link disaggregate US trade data from 1972 to 2006, the NBER manufacturing database, the Decennial Census, and occupational and task data from the Dictionary of Occupational Titles. Within-industry shifts in task characteristics are linked to import competition and technological change. Our results suggest that trade has played a major role in the growth in relative demand for nonroutine tasks, particularly those requiring high levels of interpersonal interaction.

  8. The Australian Dollar's Long-Term Fluctuations and Trend: The Commodity Prices-cum-Economic Cycles Hypothesis

    OpenAIRE

    Sanidas, Elias

    2005-01-01

    The Australian dollar’s exchange rate (mainly in relation to the American dollar) has received a considerable attention in research and several models have been proposed to explain its trend and fluctuations. Thus, as a conclusion of this research we can say that this commodity currency very much depends on the terms of trade which in turn depend on commodity prices. The present paper is based on this conclusion and hence proposes the possibility that the Australian dollar’s behavior is overw...

  9. 17 CFR 240.3a12-8 - Exemption for designated foreign government securities for purposes of futures trading.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Exemption for designated foreign government securities for purposes of futures trading. 240.3a12-8 Section 240.3a12-8 Commodity and... trading. (a) When used in this Rule, the following terms shall have the meaning indicated: (1) The term...

  10. THE IMPLEMENTATION OF EFFICIENT TRADE MATRIX AND GOLD RESERVE REQUIREMENT FOR COMMODITY TRADE AMONG ASEAN COUNTRIES

    OpenAIRE

    nurul anisak

    2017-01-01

    Objective - This study attempts to implement the efficient trade matrix among five selected ASEAN countries and its settlement by the gold reserve requirements through Multi-Bilateral Payments Arrangement (MBPA).Methods – The study is a qualitative research with analytic description. The purpose of this qualitative-descriptive study is to simulate the implementation of gold in the Multi-Bilateral Payment Arrangement among ASEAN countries using the current trade data.Results – This paper argue...

  11. The Role of Incompleteness in Commodity Futures Markets

    Directory of Open Access Journals (Sweden)

    Takashi eKanamura

    2015-10-01

    Full Text Available This paper proposes a convenience yield-based pricing for commodity futures, which embeds incompleteness of commodity futures markets in convenience yields. By using the pricing method, we conduct empirical analyses of the prices of WTI crude oil, heating oil, and natural gas futures traded on the NYMEX in order to assess the incompleteness of energy futures markets. We show that the fluctuation from the incompleteness is partly driven by the fluctuation from convenience yields. In addition, it is shown that the incompleteness of natural gas futures market is more highlighted than the incompleteness of WTI crude oil and heating oil futures markets. We apply the implied market price of risk from the NYMEX data to pricing an Asian call option written on WTI crude oil futures. Finally, we try to apply the market incompleteness analysis to the post-crisis periods after 2009.

  12. The bitter right of the Netherlands Gasunie. Competitive constraints of the Commodity Services System

    International Nuclear Information System (INIS)

    Van Gelder, J.W.

    2000-01-01

    The beginning of 1999 the Dutch natural gas trading company Gasunie introduced a new tariff system: the Commodity Services System (CSS or CDS, abbreviated in Dutch), criticized by many market parties. The head of the Gasunie department Gas Sales answers the critics

  13. A two-commodity perishable inventory system

    Directory of Open Access Journals (Sweden)

    B Sivakumar

    2005-12-01

    Full Text Available We present a two-commodity perishable stochastic inventory system under continuous review at a service facility with a finite waiting room. The maximum storage capacity for the i–th item is fixed as Si (i = 1, 2. We assume that a demand for the i–th commodity is of unit size. The arrival instants of customers to the service station constitutes a Poisson process with parameter lambda. The customer demands for these commodities are assumed to be in the ratio p1:p2. An individual customer is issued a demanded item after a random time of service with a negative exponential distribution. The items are perishable in nature and the life time of items of each commodity is assumed to be exponentially distributed. Both commodities are supposed to be substitutable in the sense that at the instant of any zero-stock, the other item may be used to meet the demand. A joint reordering policy is adopted with a random lead time for orders with exponential distribution. The joint probability distribution of the number of customers in the system and the inventory levels are obtained in both the transient and steady states. We also derive some stationary performance measures. The results are illustrated by means of a numerical example.

  14. An Economic Rationale for the African Scramble : The Commercial Transition and the Commodity Price Boom of 1845-1885

    NARCIS (Netherlands)

    Frankema, Ewout; Williamson, Jeffrey; Woltjer, Pieter

    2015-01-01

    This is the first study to present a unified quantitative account of African commodity trade in the long 19th century from the zenith of the Atlantic slave trade (1790s) to the eve of World War II (1939). Drawing evidence from a new dataset on export and import prices, volumes, composition and net

  15. Exchange rate volatility and international trade: The option approach

    OpenAIRE

    Franke, Günter

    1986-01-01

    Usually it is argued that an increase in exchange rate volatility reduces the volume of international trade since trading firms are risk averse. This paper shows for risk neutral firms that the expected international trade volume in standardized commodities grows with exchange rate volatility. The firms adjust their trade volume to the exchange rate level. The more favorable the exchange rate is, the higher is the export volume. If the rate drops below some level, exports are stopped. Thus in...

  16. Trading volume in financial markets: An introductory review

    International Nuclear Information System (INIS)

    Duarte Queirós, Sílvio M.

    2016-01-01

    In this article, I introduce a short review on the statistical and dynamical properties of the high-frequency trading volume and its relation to other financial quantities such as the price fluctuations and trading value. In addition, I compare these results — which were obtained within the framework of applications of Physics to quantitative financial analysis —with the mainstream financial hypotheses of mixture of distributions (MDH) and sequential arrival of information (SIAH).

  17. 78 FR 21045 - Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship...

    Science.gov (United States)

    2013-04-09

    ... COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 23 RIN 3038-AC96 Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship Documentation Requirements for Swap Dealers... CFTC published final rules setting forth requirements for swap confirmation, portfolio reconciliation...

  18. Insight conference proceedings : Ontario energy contracts 2005 : giving your company's energy trading the power it needs

    International Nuclear Information System (INIS)

    2005-01-01

    This conference provided a forum for discussing energy contracts in relation to energy trading. Issues concerning fixed priced electricity contracts and recent changes in the energy market were reviewed. Price procurement and interjurisdictional trading were examined. The role of the Independent Electricity System Operator (IESO) in the monitoring and procurement of energy contracts was evaluated. Various procurement strategies were discussed with reference to large institutions and industrial consumers. New regulatory developments relating to energy contracts in Ontario were reviewed and the emergence of demand side management as a commodity in the Ontario electricity market was discussed. Recent developments in the United States were examined in relation to Ontario's electricity sector. The conference featured 14 presentations, of which 1 has been catalogued separately for inclusion in this database. tabs., figs

  19. Per capita emissions of greenhouse gases and international trade

    International Nuclear Information System (INIS)

    Karman, D.; Baptiste, S.

    1994-01-01

    The role played by international trade in Canada's emissions of greenhouse gases is investigated. Data used in the study include Environment Canada greenhouse gas emission estimates for 1990, a Statistics Canada input-output model linking greenhouse gas emissions to economic activity in different sectors, and monetary statistics on imports and exports. Subject to some simplifying assumptions, it is estimated that nearly 20% of Canada's greenhouse gas emissions can be attributed to the production of commodities destined for export to other countries. If the same greenhouse gas emission intensities are assumed for Canada's imports, the greenhouse gas emissions due to Canada's net trade is nearly 7% of the 660 megatonnes of CO 2 equivalent emissions for 1990. Commodities from natural resource exploitation head the list of greenhouse gas emissions attributed to international trade, as expected from their large export volumes and large greenhouse gas emission intensities. 4 refs., 1 fig

  20. Temporal dynamics of blue and green virtual water trade networks

    Science.gov (United States)

    Konar, M.; Dalin, C.; Hanasaki, N.; Rinaldo, A.; Rodriguez-Iturbe, I.

    2012-12-01

    Global food security increasingly relies on the trade of food commodities. Freshwater resources are essential to agricultural production and are thus embodied in the trade of food commodities, referred to as "virtual water trade." Agricultural production predominantly relies on rainwater (i.e., "green water"), though irrigation (i.e., "blue water") does play an important role. These different sources of water have distinctly different opportunity costs, which may be reflected in the way these resources are traded. Thus, the temporal dynamics of the virtual water trade networks from these distinct water sources require characterization. We find that 42 × 109 m3 blue and 310 × 109 m3 green water was traded in 1986, growing to 78 × 109 m3 blue and 594 × 109 m3 green water traded in 2008. Three nations dominate the export of green water resources: the USA, Argentina, and Brazil. As a country increases its export trade partners it tends to export relatively more blue water. However, as a country increases its import trade partners it does not preferentially import water from a specific source. The amount of virtual water that a country imports by increasing its import trade partners has been decreasing over time, with the exception of the soy trade. Both blue and green virtual water networks are efficient: 119 × 109 m3 blue and 105 × 109 m3 green water were saved in 2008. Importantly, trade has been increasingly saving water over time, due to the intensification of crop trade on more water-efficient links.

  1. Will Commodity Properties Affect Seller's Creditworthy: Evidence in C2C E-commerce Market in China

    Science.gov (United States)

    Peng, Hui; Ling, Min

    This paper finds out that the credit rating level shows significant difference among different sub-commodity markets in E-commerce, which provides room for sellers to get higher credit rating by entering businesses with higher average credit level before fraud. In order to study the influence of commodity properties on credit rating, this paper analyzes how commodity properties affect average crediting rating through the degree of information asymmetry, returns and costs of fraud, credibility perception and fraud tolerance. Empirical study shows that Delivery, average trading volume, average price and complaint possibility have decisive impacts on credit performance; brand market share, the degree of standardization and the degree of imitation also have a relatively less significant effect on credit rating. Finally, this paper suggests that important commodity properties should be introduced to modify reputation system, for preventing credit rating arbitrage behavior where sellers move into low-rating commodity after being assigned high credit rating.

  2. Market Structure and Price Transmission of Eggs Commodity

    Directory of Open Access Journals (Sweden)

    Abdul Aziz Ahmad

    2016-10-01

    Full Text Available Purposes of this research are to determine some characteristics of distribution channel, market structure, and price maker transmission in purebred chicken egg commodity in Banyumas District, Central Java Province. Primary data applied on this research is from all channel distribution levels; from producers to final consumers. Meanwhile secondary data is collected from government official sources, such as BPS-Statistic of Banyumas Disrict, Banyumas Department of Industry, Trading and Cooperation, and previous researches which has been made by researcher team. Sample determining is directed by proportional random sampling methods. Some measurements are applied to this research, including to; Herfindahl Index (HI, Concentration Ratio (CF, and Minimum Efficiency Scale (MES to investigate market structure; and Asymmetric Price Transmission (APT to determine price transmission mechanism model. This research finds that (1 the distribution channel of egg commodity is spitted to different channel, the first channel: egg producer – retail traders – final consumers, and second channel: egg producers – whole seller – retail traders – final consumers; (2 market structure which is created to this farming specific commodity is perfect market; (3 price transmission mechanism analysis statistically shows that there is almost no existence of dominant power in price formation.

  3. Maintaining and increasing the contribution made to South Africa by the minerals and metals industry

    International Nuclear Information System (INIS)

    Jochens, P.R.

    1985-01-01

    This review article first highligts the past performance of the industry and discusses the manner in which the development of the industry has followed a logical progression from mining to the production of mineral and metal products of specification purity. Then the numerous constraints against a greater contribution by the industry are enumerated. Attention is drawn to the extent of further processing that can be undertaken in the context of mining and metallurgical processing, not only to indicate the benefits that can be derived from the added-value conferred on a mineral or metal commodity during each stage of its further processing, but also to point out some important corollaries of further processing. The many opportunities and challenges for an increased contribution by the minerals and metals industry are then reviewed. This major section includes a list of commodities for which increased penetration of export markets could be sought because the increasing resistance level (a term developed in this paper) has not been attained: a list of commodities that are imported at present, many of which could be produced locally on the basis of identified resources and expertise; a list of commodities for which additional uses should be developed so that South Africa, which possesses the largest reserves and is the largest exporter, can increase its production rate; and examples of commodities for which further processing is still at an early stage

  4. Discussion on nuclear energy in the trade union journal 'Metall'

    International Nuclear Information System (INIS)

    Anon.

    1978-01-01

    For over one year there was a discussion about the problems of nuclear energy in the trade union journal 'Metall'. Invited by the editors, scientists from the university of Bremen also participated in this contoversy. In early 1977, an article with the title, Blessing or curse of the future' written by Bremen scientists was published in 5 parts. A reply was written by nine scientists, all but one from the Nuclear Research Centre in Juelich. This criticism caused the reaction of 17 persons from the university of Bremen. This document contains the articles which appeared in vanious numbers of the journal 'Metall', including the readers letters written by colleagues from the Union. (orig./GL) [de

  5. Cross-correlations between RMB exchange rate and international commodity markets

    Science.gov (United States)

    Lu, Xinsheng; Li, Jianfeng; Zhou, Ying; Qian, Yubo

    2017-11-01

    This paper employs multifractal detrended analysis (MF-DFA) and multifractal detrended cross-correlation analysis (MF-DCCA) to study cross-correlation behaviors between China's RMB exchange rate market and four international commodity markets, using a comprehensive set of data covering the period from 22 July 2005 to 15 March 2016. Our empirical results from MF-DFA indicate that the RMB exchange rate is the most inefficient among the 4 selected markets. The results from quantitative analysis have testified the existence of cross-correlations and the result from MF-DCCA have further confirmed a strong multifractal behavior between RMB exchange rate and international commodity markets. We also demonstrate that the recent financial crisis has significant impact on the cross-correlated behavior. Through the rolling window analysis, we find that the RMB exchange rates and international commodity prices are anti-persistent cross-correlated. The main sources of multifractality in the cross-correlations are long-range correlations between RMB exchange rate and the aggregate commodity, energy and metals index.

  6. 75 FR 8682 - Sunshine Act Meetings

    Science.gov (United States)

    2010-02-25

    ... futures and options in the precious and base metals markets, and to consider Federal position limits in... precious and base metals markets and related hedge exemptions on regulated futures exchanges, derivatives... COMMODITY FUTURES TRADING COMMISSION Sunshine Act Meetings Agency Holding the Meeting: Commodity...

  7. 75 FR 36371 - Agency Information Collection Activities Under OMB Review

    Science.gov (United States)

    2010-06-25

    ... AGENCY: Commodity Futures Trading Commission. ACTION: Notice; Information Collection 3038-0019, Stocks of... forwarded to the Office of Management and Budget (OMB) for review and comment. The ICR describes the nature...: [email protected] and refer to OMB Control No. 3038-0019. SUPPLEMENTARY INFORMATION: Title: Stocks of Grain...

  8. The impact of global oil price shocks on China’s bulk commodity markets and fundamental industries

    International Nuclear Information System (INIS)

    Zhang, Chuanguo; Chen, Xiaoqing

    2014-01-01

    This paper investigated the reaction of aggregate commodity market to oil price shocks and also explored the effects of oil price shocks on China's fundamental industries: metals, petrochemicals, grains and oilfats. We separated the volatilities of oil price into expected, unexpected and negatively expected categories to identify how oil prices influence bulk commodity markets. We contrasted the results between different periods and among classified indices, in order to discover the significant changes in recent years and the differences at an industry level. Our results indicate that the aggregate commodity market was affected by both expected and unexpected oil price volatilities in China. The impact of unexpected oil price volatilities became more complex after 2007. The metals and grains indices did not significantly respond to the expected volatility in oil prices, in contrast to the petrochemicals and oilfats indices. These results not only contribute to advancing the existing literature, but also merit particular attention from policy makers and market investors in China. - Highlights: • We investigated the impact of global oil price shocks on China’s bulk commodity markets and fundamental industries. • The aggregate commodity market was affected by both expected and unexpected oil price volatilities. • The impact of unexpected oil price volatilities became more complex after 2007. • The metals and grains indices did not significantly respond to the expected volatility in oil prices

  9. A conceptual framework for investigating the impacts of international trade and investment agreements on noncommunicable disease risk factors.

    Science.gov (United States)

    Schram, Ashley; Ruckert, Arne; VanDuzer, J Anthony; Friel, Sharon; Gleeson, Deborah; Thow, Anne-Marie; Stuckler, David; Labonte, Ronald

    2018-01-01

    We developed a conceptual framework exploring pathways between trade and investment and noncommunicable disease (NCD) outcomes. Despite increased knowledge of the relevance of social and structural determinants of health, the discourse on NCD prevention has been dominated by individualizing paradigms targeted at lifestyle interventions. We situate individual risk factors, alongside key social determinants of health, as being conditioned and constrained by trade and investment policy, with the aim of creating a more comprehensive approach to investigations of the health impacts of trade and investment agreements, and to encourage upstream approaches to combating rising rates of NCDs. To develop the framework we employed causal chain analysis, a technique which sequences the immediate causes, underlying causes, and root causes of an outcome; and realist review, a type of literature review focussed on explaining the underlying mechanisms connecting two events. The results explore how facilitating trade in goods can increase flows of affordable unhealthy imports; while potentially altering revenues for public service provision and reshaping domestic economies and labour markets-both of which distribute and redistribute resources for healthy lifestyles. The facilitation of cross-border trade in services and investment can drive foreign investment in unhealthy commodities, which in turn, influences consumption of these products; while altering accessibility to pharmaceuticals that may mediate NCDs outcomes that result from increased consumption. Furthermore, trade and investment provisions that influence the policy-making process, set international standards, and restrict policy-space, may alter a state's propensity for regulating unhealthy commodities and the efficacy of those regulations. It is the hope that the development of this conceptual framework will encourage capacity and inclination among a greater number of researchers to investigate a more comprehensive

  10. Federal Republic of Germany: Commodities report 2003

    International Nuclear Information System (INIS)

    2004-01-01

    The Federal Institute for Geosciences and Natural Resources (BGR) has compiled the facts and figures in a commodities report for 25 years. This report summarises Germany's mineral and energy commodities trading, consumption and supply situation. After fears of shortages in the early 70s, this 25-year-period was mainly characterised by the feeling that mineral resources would always be available on the international markets in adequate quantities. And although there has been no change in the situation even up to the present day, the world markets for mineral resources are currently undergoing a structural change: the old rule of thumb that 20% of humanity in Europe, the USA and Japan consumed more than 80% of resource production is no longer valid. With India, the People's Republic of China, not to mention other heavily populated emerging countries, over half of the world's population is now involved in the demand for minerals. This means that the growth in world economic demand for natural resources is at the beginning of a new growth curve. (orig.)

  11. Environmental Regulation and International Trade

    Energy Technology Data Exchange (ETDEWEB)

    Mulatu, A. [London School of Economics, London (United Kingdom); Florax, R.J.G.M.; Withagen, C.A. [Faculty of Economics and Business Administration, Vrije Universiteit, Amsterdam (Netherlands)

    2004-07-01

    We empirically investigate the responsiveness of international trade to the stringency of environmental regulation. Stringent environmental regulation may impair the export competitiveness of 'dirty' domestic industries, and as a result, 'pollution havens' emerge in countries where environmental regulation is 'over-lax.' We examine the impact of pollution abatement and control costs on net exports in order to grasp this phenomenon. Theoretically, our analysis is related to a general equilibrium model of trade and pollution nesting the pollution haven motive for trade with the factor endowment motive. We analyze data on two-digit ISIC manufacturing industries during the period 1977-1992 in Germany, the Netherlands and the US, and show that trade patterns in 'dirty' commodities are jointly determined by relative factor endowments and environmental stringency differentials.

  12. A two-commodity perishable inventory system | Sivakumar | ORiON

    African Journals Online (AJOL)

    We present a two-commodity perishable stochastic inventory system under continuous review at a service facility with a finite waiting room. The maximum storage capacity for the i-th item is fixed as Si (i = 1,2). We assume that a demand for the i-th commodity is of unit size. The arrival instants of customers to the service ...

  13. 17 CFR 240.12f-1 - Applications for permission to reinstate unlisted trading privileges.

    Science.gov (United States)

    2010-04-01

    ... reinstate unlisted trading privileges. 240.12f-1 Section 240.12f-1 Commodity and Securities Exchanges... Rules and Regulations Under the Securities Exchange Act of 1934 Unlisted Trading § 240.12f-1 Applications for permission to reinstate unlisted trading privileges. (a) An application to reinstate unlisted...

  14. Clearing and settlement of exchange traded derivatives

    OpenAIRE

    John McPartland

    2009-01-01

    Derivatives are a class of financial instruments that derive their value from some underlying commodity, security, index, or other asset. Futures and options are common forms of derivatives. This article explains how clearing and settlement systems for exchange traded derivatives work.

  15. Innovative approaches to cervical cancer screening for sex trade workers: an international scoping review.

    Science.gov (United States)

    Thulien, Naomi S

    2014-03-01

    Female sex trade workers are among those at highest risk for developing and dying of cervical cancer, and yet many-particularly the most marginalized-are less likely than other women to be screened. This review summarizes global findings on innovative approaches to cervical cancer screening for female sex trade workers, highlights current gaps in the delivery of cervical cancer screening for female sex trade workers globally, and suggests areas for future research and policy development. A scoping review of peer-reviewed publications and grey literature was conducted. Medline (OVID), PubMed, EMBASE, and SCOPUS were searched for relevant studies written in English. There were no limitations placed on dates. Grey literature was identified by hand searching and through discussion with health care providers and community outreach workers currently working with sex trade workers. Twenty-five articles were deemed suitable for review. Articles detailing innovative ways for female sex trade workers to access cervical cancer screening were included. Articles about screening for sexually transmitted infections were also included if the findings could be generalized to screening for cervical cancer. Articles limited to exploring risk factors, knowledge, awareness, education, prevalence, and incidence of cervical cancer among sex trade workers were excluded from the review. Successful screening initiatives identified in the studies reviewed had unconventional hours of operation, understood the difference between street-based and venue-based sex trade workers, and/or used peers for outreach. Two significant gaps in health care service delivery were highlighted in this review: the limited use of unorthodox hours and the nearly exclusive practice of providing sexually transmitted infection screening for female sex trade workers without cervical cancer screening. In addition, although street-based (as opposed to venue-based) sex trade workers are likely at higher risk for

  16. The Impact of Transport on International Trade Development

    Directory of Open Access Journals (Sweden)

    Pavlović Duško

    2016-09-01

    Full Text Available International trade implies transport of specific quantity of goods to (frequently large distances, the success of which depends on the safety and speed of delivery. These are greatly conditioned by the quality of means of transport and infrastructure. This is why international trade development is affected by transport, and the development of means of transport and infrastructure is, to a great extent, influenced by demand for international delivery of various commodities. This paper looks at the interdependence of international trade and transport, showing how transport played a very significant role in international trade development in the past as it does today, commensurate to the role of international trade in the development of carriers and transport infrastructure.

  17. Boom or bust : developing countries' rough ride on the commodity price rollercoaster

    International Nuclear Information System (INIS)

    Brown, O.; Gibson, J.

    2006-10-01

    Current high commodity prices are driven by strong demand from the emerging economies of China and India in addition to high consumption in the United States. Many developing countries are experiencing massive windfall revenues from high commodity prices. However, commodity prices are highly volatile in the short term, and can vary as much as 50 per cent in a single year. While developed country producers are supported by subsidies and social safety nets, developing countries and smallholder producers feel the extent of commodity price volatility more directly. Many developing countries are becoming locked into the production and export of primary commodities whose volatile prices are declining over the long term, and over which they have very little control. Price volatility makes sound fiscal planning difficult for both countries and producers. Price booms and busts also drive social inequalities, livelihood inequalities, and corruption. Price swings can cause conflict over valuable land and resources, and does not create incentives for sound environmental stewardship. This paper described the impacts of commodity price volatility in developing countries with the aim of promoting discussion about what can be done to help stabilize revenues for countries as well as producers. Price trends and their importance were reviewed, and the theoretical benefits of liberalized commodity markets were examined. Previous attempts to stabilize commodity prices were reviewed. It was concluded that the best long-term solution to the commodity price problem is economic diversification. Recommendations for promoting economic diversification were provided. 43 refs., 1 tab., 2 figs

  18. Is voluntary certification of tropical agricultural commodities achieving sustainability goals for small-scale producers? A review of the evidence

    Science.gov (United States)

    DeFries, Ruth S.; Fanzo, Jessica; Mondal, Pinki; Remans, Roseline; Wood, Stephen A.

    2017-03-01

    Over the last several decades, voluntary certification programs have become a key approach to promote sustainable supply chains for agricultural commodities. These programs provide premiums and other benefits to producers for adhering to environmental and labor practices established by the certifying entities. Following the principles of Cochrane Reviews used in health sciences, we assess evidence to evaluate whether voluntary certification of tropical agricultural commodities (bananas, cocoa, coffee, oil palm, and tea) has achieved environmental benefits and improved economic and social outcomes for small-scale producers at the level of the farm household. We reviewed over 2600 papers in the peer-review literature and identified 24 cases of unique combinations of study area, certification program, and commodity in 16 papers that rigorously analyzed differences between treatment (certified households) and control groups (uncertified households) for a wide range of response variables. Based on analysis of 347 response variables reported in these papers, we conclude that certification is associated on average with positive outcomes for 34% of response variables, no significant difference for 58% of variables, and negative outcomes for 8% of variables. No significant differences were observed for different categories of responses (environmental, economic and social) or for different commodities (banana, coffee and tea), except negative outcomes were significantly less for environmental than other outcome categories (p = 0.01). Most cases (20 out of 24) investigated coffee certification and response variables were inconsistent across cases, indicating the paucity of studies to conduct a conclusive meta-analysis. The somewhat positive results indicate that voluntary certification programs can sometimes play a role in meeting sustainable development goals and do not support the view that such programs are merely greenwashing. However, results also indicate that

  19. Commodity hardware and software summary

    International Nuclear Information System (INIS)

    Wolbers, S.

    1997-04-01

    A review is given of the talks and papers presented in the Commodity Hardware and Software Session at the CHEP97 conference. An examination of the trends leading to the consideration of PC's for HEP is given, and a status of the work that is being done at various HEP labs and Universities is given

  20. Nutrient flows in international trade: Ecology and policy issues

    International Nuclear Information System (INIS)

    Grote, Ulrike; Craswell, Eric; Vlek, Paul

    2005-01-01

    Impacts of increasing population pressure on food demand and land resources has sparked interest in nutrient balances and flows at a range of scales. West Asia/North Africa, China, and sub-Saharan Africa are net importers of NPK in agricultural commodities. These imported nutrients do not, however, redress the widely recognized declines in fertility in sub-Saharan African soils, because the nutrients imported are commonly concentrated in the cities, creating waste disposal problems rather than alleviating deficiencies in rural soils. Countries with a net loss of NPK in agricultural commodities are the major food exporting countries-the United States, Australia, and some Latin American countries. In the case of the United States, exports of NPK will increase from 3.1 Tg in 1997 to 4.8 Tg in 2020. The results suggest that between 1997 and 2020, total international net flows of NPK in traded agricultural commodities will double to 8.8 million tonnes. Against this background, the paper analyses the impact of different policy measures on nutrient flows and balances. This includes not only the effects of agricultural trade liberalization and the reduction of subsidies, but also the more direct environmental policies like nutrient accounting schemes, eco-labeling, and nutrient trading. It finally stresses the need for environmental costs to be factored into the debate on nutrient management and advocates more inter-disciplinary research on these important problems

  1. Vulnerability of countries to food-production crises propagating in the virtual water trade network

    Science.gov (United States)

    Tamea, S.; Laio, F.; Ridolfi, L.

    2015-12-01

    In recent years, the international trade of food and agricultural commodities has undergone a marked increase of exchanged volumes and an expansion of the trade network. This globalization of trade has both positive and negative effects, but the interconnectedness and external dependency of countries generate complex dynamics which are often difficult to understand and model. In this study we consider the volume of water used for the production of agricultural commodities, virtually exchanged among countries through commodity trade, i.e. the virtual water trade. Then, we set up a parsimonious mechanistic model describing the propagation, into the global trade network, of food-production crises generated locally by a social, economic or environmental event (such as war, economic crisis, drought, pest). The model, accounting for the network structure and the virtual water balance of all countries, bases on rules derived from observed virtual water flows and on data-based and statistically verified assumption. It is also tested on real case studies that prove its capability to capture the main features of crises propagation. The model is then employed as the basis for the development of an index of country vulnerability, measuring the exposure of countries to crises propagating in the virtual water trade network. Results of the analysis are discussed within the context of socio-economic and environmental conditions of countries, showing that not only water-scarce, but also wealthy and globalized countries, are among the most vulnerable to external crises. The temporal analysis for the period 1986-2011 reveals that the global average vulnerability has strongly increased over time, confirming the increased exposure of countries to external crises which may occur in the virtual water trade network.

  2. Radiation technology for value addition to food and agro commodities

    International Nuclear Information System (INIS)

    Sharma, Arun

    2012-01-01

    Assuring adequate food security to citizens of the country requires deployment of strategies for augmenting agricultural production while reducing post-harvest losses. Appropriate post-harvest processing, handling, storage and distribution practices are as important as the efforts to increase productivity for sustained food security, food safety and international trade in agricultural commodities. Nuclear energy has played a significant role both in the improvement of crop productivity, as well as, in the preservation and hygienization of agricultural produce

  3. Radiation processing of food and agricultural commodities: opportunities and challenges

    International Nuclear Information System (INIS)

    Sharma, Arun

    2009-01-01

    Assuring adequate food security to citizens of the country requires deployment of strategies for augmenting agricultural production while eliminating post-harvest losses. Appropriate post-harvest processing, handling, storage and distribution practices are as important as the efforts to increase productivity for sustained food security, food safety and international trade in agricultural commodities. Nuclear energy can play a significant role both in the improvement of crop productivity, as well as, in the preservation and hygienization of agricultural produce

  4. The use of importance and performance analysis (IPA) to evaluate effectiveness of the forward auction market agro commodities: A case study

    Science.gov (United States)

    Wulansari, Dwi Ratna; Sutopo, Wahyudi; Hisjam, Muh.

    2018-02-01

    The empowering auction market for commodities in East Java Province is one of five auction market revitalization programs conducted by the Republic of Indonesia c.q. Ministry of Trading started in 2014. One of the districts in East Java Province, namely Magetan District utilizes the commodity auction market to improve the competitiveness of their agricultural industry by shortening the supply chain. The Magetan District needs to evaluate their support for farmers or farmer groups to participate in the forward auction market (FAM). Implementation of the FAM commodities is divided into three main processes, namely pre-auction, auction, and post-auction. The auction market is organized to shorten the trading chain. Implementation of the FAM requires good planning, among Seller (namely Farmer or Farmer Group), organizer of Auction (namely Commodity Auction Company), Buyer, and Local Government (namely the farmer facilitator). This article is aimed to develop the instrument of a Performance Measurement Model Using Important and Performance Analysis (IPA) for Improving the FAM Effectiveness of Agro Commodity from Magetan District with Supply Chain Management approach. IPA is implemented at pre-auction, auction, and post-auction. The IPA model results in the diagram to decide the strategies in improving the FAM effectiveness, and then it can encourage farmers to improve welfare and realize the competitiveness of the auctioneer.

  5. The gravity model specification for modeling international trade flows and free trade agreement effects: a 10-year review of empirical studies

    OpenAIRE

    Kepaptsoglou, Konstantinos; Karlaftis, Matthew G.; Tsamboulas, Dimitrios

    2010-01-01

    The gravity model has been extensively used in international trade research for the last 40 years because of its considerable empirical robustness and explanatory power. Since their introduction in the 1960's, gravity models have been used for assessing trade policy implications and, particularly recently, for analyzing the effects of Free Trade Agreements on international trade. The objective of this paper is to review the recent empirical literature on gravity models, highlight best practic...

  6. 77 FR 18791 - Export Trade Certificate of Review

    Science.gov (United States)

    2012-03-28

    ... Corporation, Wilton, Connecticut'' was amended to read ``LD Commodities Rice Merchandising LLC, Wilton, Connecticut, and LD Commodities Interior Rice Merchandising LLC, Kansas City, Missouri (subsidiaries of Louis...

  7. 78 FR 20897 - Agency Information Collection Activities Under OMB Review

    Science.gov (United States)

    2013-04-08

    ... developing an outreach and communications campaign designed to change consumer behavior. Since these systems... AGENCY: Commodity Futures Trading Commission. ACTION: Notice. SUMMARY: The Office of Consumer Outreach...: Nisha Smalls, Office of Consumer Outreach, Commodity Futures Trading Commission, 1155 21st Street NW...

  8. Freight on a Low-Carbon Diet: Accessibility, Freightsheds, and Commodities.

    Science.gov (United States)

    Taptich, Michael N; Horvath, Arpad

    2015-10-06

    The freight infrastructure network (e.g., roads, railways, waterways, etc.) is the backbone of nearly all trade partnerships in the United States and abroad. The manner in which the individual portions of its constituent parts are interrelated or arranged plays an important role for determining the environmental footprint of goods moved within the network. Herein, we compare the spatial distribution of potential consumer-producer exchanges (i.e., accessibility) under varying greenhouse gas (GHG) budgets or preferences for minimal transportation-related GHG emissions. We conduct case studies using two freight modes (truck and intermodal rail) for two representative commodities: meat/seafood and paper articles. Results across all counties in the United States indicate that the geographic area in which trade is possible, given a GHG budget, varies by transportation mode, location, and commodity. Our results suggest that intermodal terminal availability is an important determinant of low-GHG accessibility. Since only a fraction of road-to-rail terminals accommodate meat/seafood (4.9%) and paper (0.7%), the United States could increase its expected GHG savings associated with truck-to-rail mode-switching policies by 70% (+20 kg CO2,e/ton for meat/seafood) and 310% (+30 kg CO2,e/ton for paper) by upgrading current terminals to allow the exchange of all types of goods.

  9. Australian mineral industry annual review for 1984

    Energy Technology Data Exchange (ETDEWEB)

    1987-01-01

    This volume of the Australian Mineral Industry Annual Review records development and performance of the Australian mineral industry during the calendar year 1984. It reports production, consumption, treatment, trade, prices, new developments, exploration, and resources for mineral commodities including fuels, and summarises equivalent developments abroad. Part 1. 'general review' after briefly surveying the world mineral industry, summarises developments in the Australian mineral industry as a whole, under the headings: the industry in the national economy, prices, exploration expenditure, investment, income tax, royalties, structural data, wages and salaries, industrial disputes, and government assistance, legislation, and controls. Part 2. 'commodity review' covers individual mineral commodity groups, from abrasives to zirconium. Part 3, 'mining census', tabulates statistics extracted from the mining census, together with some mineral processing statistics from the manufacturing census. Part 4 tabulates quantity and value data on mineral output provided by state departments of mines and their equivalents. Listed in appendices are: principal mineral producers; ore buyers and mineral dealers; government mining services; analytical laboratories; state mines departments and equivalents; industry, professional and development organisations and associations, etc; summary of mineral royalties payable in the states and territories; and summary of income tax provisions and federal government levies.

  10. 77 FR 1949 - Agency Information Collection Activities; Submission for OMB Review; Comment Request; Trade...

    Science.gov (United States)

    2012-01-12

    ... for OMB Review; Comment Request; Trade Adjustment Assistance Community College and Career Training...) proposal entitled ``Trade Adjustment Assistance Community College and Career Training Grant Program Reporting Requirements'' to the Office of Management and Budget (OMB) for review and approval for use in...

  11. 78 FR 5778 - North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews

    Science.gov (United States)

    2013-01-28

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews AGENCY: NAFTA Secretariat, United States Section... the Panel Order and Rule 80 of the Article 1904 Panel Rules, the Panel Review was completed and the...

  12. 78 FR 17639 - North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews

    Science.gov (United States)

    2013-03-22

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews AGENCY: NAFTA Secretariat, United States Section... Order and Rule 80 of the Article 1904 Panel Rules, the Panel Review was completed and the panelists were...

  13. 78 FR 10600 - North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews

    Science.gov (United States)

    2013-02-14

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews AGENCY: NAFTA Secretariat, United States Section... Order and Rule 80 of the Article 1904 Panel Rules, the Panel Review was completed and the panelists were...

  14. 78 FR 11627 - North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews

    Science.gov (United States)

    2013-02-19

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews AGENCY: NAFTA Secretariat, United States Section... Order and Rule 80 of the Article 1904 Panel Rules, the Panel Review was completed and the panelists were...

  15. 77 FR 72325 - North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews

    Science.gov (United States)

    2012-12-05

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews AGENCY: NAFTA Secretariat, United States Section... Order and Rule 80 of the Article 1904 Panel Rules, the Panel Review was completed and the panelists were...

  16. Risk management and oil trading contracts

    International Nuclear Information System (INIS)

    Sas, B.

    1992-01-01

    The oil market provides an excellent case study for an analysis of the commodity trading risks and the development of contractual instruments and market structures to meet these risks. The paper identifies the main risks, namely performance, credit/payment, price, regulatory, fiscal, and ''trading'' risk. A conceptual framework provides the basis to trace the evolution of the risk management instruments from relational (e.g. long-term), through ''transactional'' (e.g. spot and forwards) to ''institutional'' (e.g. futures and options) and finally ''pricing'' (e.g. swaps and trigger pricing) contracts. (author)

  17. Apparent Consumption vs. Total Consumption--A Lead-Acid Battery Case Study

    Science.gov (United States)

    Wilburn, David R.; Buckingham, David A.

    2006-01-01

    Introduction: This report compares estimates of U.S. apparent consumption of lead with estimates of total U.S. consumption of this mineral commodity from a materials flow perspective. The difference, attributed to the amount of lead contained in imported and exported products, was found to be significant for this sector. The study also assesses the effects of including mineral commodities incorporated in manufactured products on the interpretation of observed trends in minerals consumption and trade. Materials flow is a systems approach to understanding what happens to the materials we use from the time a material is extracted, through its processing and manufacturing, to its ultimate disposition. The U.S. Geological Survey (USGS) provides accurate and detailed mineral production and mineral commodity consumption statistics that are essential for government, nongovernment organizations, and the public to gain a better understanding of how and where materials are used and their effect on the environment and society. Published statistics on mineral apparent consumption are limited to estimates of consumption of raw material forms (ore, concentrate, and [or] refined metal). For this study, apparent consumption is defined as mine production + secondary refined production + imports (concentrates and refined metal) ? exports (concentrates and refined metal) + adjustments for government and industry stock changes. These estimates do not account for the amount of mineral commodities contained in manufactured products that are imported to the United States, nor do they deduct the amount of these mineral commodities contained in manufactured products that are exported from the United States. When imports or exports of manufactured products contribute significantly to the total use of a particular raw material, an estimate of consumption that does not consider the incorporated forms of these mineral commodities within imported or exported manufactured products can be either

  18. A Comparative Study of Trade Relations and the Spatial-Temporal Evolution of Geo-Economy between China and Vietnam

    Directory of Open Access Journals (Sweden)

    Teng Ma

    2017-06-01

    Full Text Available With the increasing economic importance of the Asia-Pacific Region, the economic interdependence among countries in the region has gradually enhanced. With the continuous opening up of the two countries, Sino-Vietnamese economic relations have also been deepened. However, the export trade between Vietnam and China has been competitive. China and Vietnam seek to dominate or join an agreement that is conducive to their own trade, which also exacerbates the trade competition between the two countries. This paper compares China and Vietnam and analyzes their foreign trade data from 2005 to 2014. By analyzing the competitiveness of export commodities, the trade division effect and spatio-temporal changes of the geo-economic relationship in the Asia-Pacific Region, this study explores Sino-Vietnamese trade relations and compares the pattern of geo-economic evolution between the two countries. The findings show that China and Vietnam have similarities and substitutability in textiles, apparel and footwear in terms of commodity structure. There is already a trade diversion effect between Vietnam and China on these commodities, but it is not substantial. From a geographic perspective, China’s geo-economic relations in the Pacific Rim present an increasingly dispersed trend. However, the spatial pattern of Vietnam’s geo-economy has maintained a low-level and stable spatial agglomeration over the last decade.

  19. 21 CFR 20.61 - Trade secrets and commercial or financial information which is privileged or confidential.

    Science.gov (United States)

    2010-04-01

    ... ADMINISTRATION, DEPARTMENT OF HEALTH AND HUMAN SERVICES GENERAL PUBLIC INFORMATION Exemptions § 20.61 Trade..., preparing, compounding, or processing of trade commodities and that can be said to be the end product of either innovation or substantial effort. There must be a direct relationship between the trade secret and...

  20. Outlook '98 - Commodity markets

    International Nuclear Information System (INIS)

    Simard, T.

    1998-01-01

    Canadian oil and natural gas producers'' participation in commodity and foreign exchange markets to alter the pricing characteristics of their commodity portfolios was reviewed. It was concluded that through the various risk management structures available from financial and physical market participants, Canadian oil and gas producers retain the ongoing ability to design, pro-actively, their desired exposure to oil and gas prices. Various industry-wide re-examination of risk management programs have taken place during the past two years. Based on these studies, the industry anticipates material volatility in West Texas Intermediate (WTI) oil and Alberta natural gas prices throughout 1998. Furthermore, there is considerable uncertainty surrounding the price differentials between WTI crude and Canadian oil streams, and between Alberta gas prices and other North American regional gas markets. Against this background of uncertainty, it is reasonable to predict that companies will use risk management strategies in an effort to outperform industry average prices, thereby ensuring that pro-active risk management activity will continue throughout 1998

  1. The challenges of the electricity trade in liberalised markets

    International Nuclear Information System (INIS)

    Wanzek, S.

    2001-01-01

    As a consequence of the electricity market liberalization a new market emerged allowing electricity to be traded as a commodity. The structure of the electricity companies has to be adopted in the new market model and the regulatory framework has to ensure a level playing field for the participants in the market. Trading has taken on considerable strategic significance for all market participants. The price of electricity is becoming more and more volatile. In this paper the targets, forms and lessons E. ON's electricity trade are discussed. In addition, the impacts of successful trading and obtained experiences are analysed. At the end an outlook for electricity trade in East and South-East Europe is given. (author)

  2. 77 FR 74174 - North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews

    Science.gov (United States)

    2012-12-13

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free Trade Agreement (NAFTA), Article 1904 Binational Panel Reviews AGENCY: NAFTA Secretariat, United States Section.... Therefore, on the basis of the Panel Order and Rule 80 of the Article 1904 Panel Rules, the Panel Review was...

  3. Commodities and Stock Investment

    Directory of Open Access Journals (Sweden)

    Syed Jawad Hussain Shahzad

    2014-09-01

    Full Text Available This study is a multivariate analysis of commodities and stock investment in a newly established market scenario. Return distribution asymmetry is examined with higher order movements. Skewness in commodity future’s return is largely insignificant, whereas kurtosis is highly significant for both stock and commodity future contracts. Correlation analysis is done with Pearson’s and Kendall’s tau measures. Commodities provide significant diversification benefits when added in a portfolio of stocks. Compared with stocks, commodity future’s returns show stronger correlation with unexpected inflation. The volatility is measured through Glosten-Jagannathan-Runkle - Generalized Autoregressive Conditional Heteroskedasticity (GJR-GARCH model and reflects that commodities have inverted asymmetric behavior, that is, more impact from the upward shocks compared with downward. Stocks have asymmetric volatility, that is, more impact from negative shocks compared with positive. Gold has highest inverted asymmetric volatility. Tail dependence, measured through Student’s t copula, shows no combined downside movement. In conclusion, commodity investments provide diversification and inflation protection.

  4. Sustainable Systems Analysis of Production and Transportation Scenarios for Conventional and Bio-based Energy Commodities

    Science.gov (United States)

    Doran, E. M.; Golden, J. S.; Nowacek, D. P.

    2013-12-01

    International commerce places unique pressures on the sustainability of water resources and marine environments. System impacts include noise, emissions, and chemical and biological pollutants like introduction of invasive species into key ecosystems. At the same time, maritime trade also enables the sustainability ambition of intragenerational equity in the economy through the global circulation of commodities and manufactured goods, including agricultural, energy and mining resources (UN Trade and Development Board 2013). This paper presents a framework to guide the analysis of the multiple dimensions of the sustainable commerce-ocean nexus. As a demonstration case, we explore the social, economic and environmental aspects of the nexus framework using scenarios for the production and transportation of conventional and bio-based energy commodities. Using coupled LCA and GIS methodologies, we are able to orient the findings spatially for additional insight. Previous work on the sustainable use of marine resources has focused on distinct aspects of the maritime environment. The framework presented here, integrates the anthropogenic use, governance and impacts on the marine and coastal environments with the natural components of the system. A similar framework has been highly effective in progressing the study of land-change science (Turner et al 2007), however modification is required for the unique context of the marine environment. This framework will enable better research integration and planning for sustainability objectives including mitigation and adaptation to climate change, sea level rise, reduced dependence on fossil fuels, protection of critical marine habitat and species, and better management of the ocean as an emerging resource base for the production and transport of commodities and energy across the globe. The framework can also be adapted for vulnerability analysis, resilience studies and to evaluate the trends in production, consumption and

  5. An Economic Rationale for the African Scramble. The Commercial Transition and the Commodity Price Boom of 1845-1885. NBER Working Paper 21213

    NARCIS (Netherlands)

    Frankema, E.H.P.; Williamson, J.G.; Woltjer, P.J.

    2015-01-01

    This is the first study to present a unified quantitative account of African commodity trade in the long 19th century from the zenith of the Atlantic slave trade (1790s) to the eve of World War II (1939). Drawing evidence from a new dataset on export and import prices, volumes, composition and net

  6. Australian mineral industry annual review 1977 (including information to June 1978)

    Energy Technology Data Exchange (ETDEWEB)

    Ward, J

    1979-01-01

    This article records growth of the Australian mineral industry and reports production, consumption, treatment, trade, prices, new developments, exploration, and resources for all mineral commodities including fuels. Equivalent development abroad is summarized. Appendices include principal mineral producers, associations, etc. and royalties. Black coal is described under the headings: production, ex-mine value of output, employment, wages and salaries, production per manshift, interstate trade, port facilities, consumption, stock, prices, new developments, exploration, resources, world review, and coke. There are numerous tables of data and a flow chart of the Australian black coal industry, 1977. Brown coal includes production, consumption, new developments, exploration, resources, and world review.

  7. Evaluation of different hedging strategies for commodity price risks of industrial cogeneration plants

    International Nuclear Information System (INIS)

    Palzer, Andreas; Westner, Günther; Madlener, Reinhard

    2013-01-01

    In this paper, we design and evaluate eight different strategies for hedging commodity price risks of industrial cogeneration plants. Price developments are parameterized based on EEX data from 2008 to 2011. The probability distributions derived are used to determine the value-at-risk (VaR) of the individual strategies, which are in a final step combined in a mean-variance portfolio analysis for determining the most efficient hedging strategy. We find that the strategy adopted can have a marked influence on the remaining price risk. Quarter futures are found to be particularly well suited for reducing market price risk. In contrast, spot trading of CO 2 certificates is found to be preferable compared to forward market trading. Finally, portfolio optimization shows that a mix of various hedging strategies can further improve the profitability of a heat-based cogeneration plant. - Highlights: • Evaluation of commodity price risk hedging strategies for industrial cogeneration. • Value-at-risk analysis of eight different hedging strategies. • Mean-variance portfolio analysis for determining the optimal hedging strategy mix. • A mix of hedging strategies further improves profitability of heat-based CHP

  8. Trading Land: A Review of Approaches to Accounting for Upstream Land Requirements of Traded Products.

    Science.gov (United States)

    Schaffartzik, Anke; Haberl, Helmut; Kastner, Thomas; Wiedenhofer, Dominik; Eisenmenger, Nina; Erb, Karl-Heinz

    2015-10-01

    Land use is recognized as a pervasive driver of environmental impacts, including climate change and biodiversity loss. Global trade leads to "telecoupling" between the land use of production and the consumption of biomass-based goods and services. Telecoupling is captured by accounts of the upstream land requirements associated with traded products, also commonly referred to as land footprints. These accounts face challenges in two main areas: (1) the allocation of land to products traded and consumed and (2) the metrics to account for differences in land quality and land-use intensity. For two main families of accounting approaches (biophysical, factor-based and environmentally extended input-output analysis), this review discusses conceptual differences and compares results for land footprints. Biophysical approaches are able to capture a large number of products and different land uses, but suffer from a truncation problem. Economic approaches solve the truncation problem, but are hampered by the limited disaggregation of sectors and products. In light of the conceptual differences, the overall similarity of results generated by both types of approaches is remarkable. Diametrically opposed results for some of the world's largest producers and consumers of biomass-based products, however, make interpretation difficult. This review aims to provide clarity on some of the underlying conceptual issues of accounting for land footprints.

  9. 17 CFR 240.10b5-2 - Duties of trust or confidence in misappropriation insider trading cases.

    Science.gov (United States)

    2010-04-01

    ... in misappropriation insider trading cases. 240.10b5-2 Section 240.10b5-2 Commodity and Securities... Devices and Contrivances § 240.10b5-2 Duties of trust or confidence in misappropriation insider trading... of insider trading under Section 10(b) of the Act and Rule 10b-5. The law of insider trading is...

  10. A brief review of some pathology research supported by the Georgia Commodity Commission for Pecans at the USDA-ARS, Byron

    Science.gov (United States)

    With the changes currently taking place nationally in the pecan industry, and the production issues faced specifically by growers in Georgia and elsewhere in the southeastern region, the pathology research projects funded by the Georgia Commodity Commission for Pecans (CC) are reviewed. The results ...

  11. Natural gas as a traded global commodity : no longer just a continental resource

    International Nuclear Information System (INIS)

    Pickard, A.

    2004-01-01

    Many consider natural gas to be the fuel of choice for the future because it is abundant, clean and cost competitive. This presentation reviewed how gas markets are changing in terms of globalization, the critical role of liquefied natural gas (LNG), the politics, technology and how the evolution will differ from oil. Other topics of discussion included the expanding world trade of LNG, LNG markets, supply countries, LNG flows in 2002 and potential future flows. Developments in the market were reviewed with reference to limited LNG spot market, mix of contract types, and the role of powerful aggregator partners. The impact of joining suppliers and markets was also discussed along with the value chain of the tramline model. Shell's LNG shipping position was outlined. Shell wholly owns 4 LNG ships and partly owns and operates 16 more ships. The presentation listed existing, permitted, publicly announced and scouting LNG regas terminals in North America, along with Shell interests. It was noted that LNG has the potential to meet some of the growing deficit in North American gas production. The issues that require consideration include permitting uncertainties, basis risk, impact of imports on basis, expansion possibilities, constraints on pipeline infrastructure, marketing capabilities, global supply issues and finance possibilities. figs

  12. 17 CFR 240.17a-23 - Recordkeeping and reporting requirements relating to broker-dealer trading systems.

    Science.gov (United States)

    2010-04-01

    ... requirements relating to broker-dealer trading systems. 240.17a-23 Section 240.17a-23 Commodity and Securities... relating to broker-dealer trading systems. (a) Scope of section. This section shall apply to any registered broker or dealer that acts as the sponsor of a broker-dealer trading system. (b) Definitions. For...

  13. Factors Shaping Agri-food Product Trade in Poland

    Directory of Open Access Journals (Sweden)

    Piotr Bórawski

    2015-01-01

    Full Text Available The objective of the paper is to recognize the role of internal and external factors in the trade balance. The analysis of the trade balance is useful to help formulate goals and premises of economy policy to properly allocate production means to eliminate the negative effects of trade liberalization. The authors have studied data about trade of agricultural commodities in the years 2000–2010. To measure the impact of macroeconomic variables used a regression model. The macroeconomic factors included: X1 (inflation, X2 (investment in agriculture and hunting, X3 (GDP and X4 (exchange rate and X5 (FAO food price index. We wanted to recognize the impact of macroeconomic factors on: Y1 (total export, Y2 (total import, Y3 (trade balance.

  14. Market power, inelastic income elasticity of demand, and terms of trade

    OpenAIRE

    Kujal, Praveen; Michelitsch, Roland

    1996-01-01

    The "Theory of Unequal Exchange" predicts that terms of trade for the producer of primary commodities worsen over time given the low income elasticity of demand for primary product exports and the market power of the industrialized countries. We set up a laboratory economy to test the influence of market power and low income elasticity of demand on trade. An experimental

  15. Egalitarian despots: hierarchy steepness, reciprocity and the grooming-trade model in wild chimpanzees, Pan troglodytes.

    Science.gov (United States)

    Kaburu, Stefano S K; Newton-Fisher, Nicholas E

    2015-01-01

    Biological market theory models the action of natural selection as a marketplace in which animals are viewed as traders with commodities to offer and exchange. Studies of female Old World monkeys have suggested that grooming might be employed as a commodity to be reciprocated or traded for alternative services, yet previous tests of this grooming-trade model in wild adult male chimpanzees have yielded mixed results. Here we provide the strongest test of the model to date for male chimpanzees: we use data drawn from two social groups (communities) of chimpanzees from different populations and give explicit consideration to variation in dominance hierarchy steepness, as such variation results in differing conditions for biological markets. First, analysis of data from published accounts of other chimpanzee communities, together with our own data, showed that hierarchy steepness varied considerably within and across communities and that the number of adult males in a community aged 20-30 years predicted hierarchy steepness. The two communities in which we tested predictions of the grooming-trade model lay at opposite extremes of this distribution. Second, in accord with the grooming-trade model, we found evidence that male chimpanzees trade grooming for agonistic support where hierarchies are steep (despotic) and consequent effective support is a rank-related commodity, but not where hierarchies are shallow (egalitarian). However, we also found that grooming was reciprocated regardless of hierarchy steepness. Our findings also hint at the possibility of agonistic competition, or at least exclusion, in relation to grooming opportunities compromising the free market envisioned by biological market theory. Our results build on previous findings across chimpanzee communities to emphasize the importance of reciprocal grooming exchanges among adult male chimpanzees, which can be understood in a biological markets framework if grooming by or with particular individuals is a

  16. Egalitarian despots: hierarchy steepness, reciprocity and the grooming-trade model in wild chimpanzees, Pan troglodytes

    Science.gov (United States)

    Kaburu, Stefano S. K.; Newton-Fisher, Nicholas E.

    2014-01-01

    Biological market theory models the action of natural selection as a marketplace in which animals are viewed as traders with commodities to offer and exchange. Studies of female Old World monkeys have suggested that grooming might be employed as a commodity to be reciprocated or traded for alternative services, yet previous tests of this grooming-trade model in wild adult male chimpanzees have yielded mixed results. Here we provide the strongest test of the model to date for male chimpanzees: we use data drawn from two social groups (communities) of chimpanzees from different populations and give explicit consideration to variation in dominance hierarchy steepness, as such variation results in differing conditions for biological markets. First, analysis of data from published accounts of other chimpanzee communities, together with our own data, showed that hierarchy steepness varied considerably within and across communities and that the number of adult males in a community aged 20–30 years predicted hierarchy steepness. The two communities in which we tested predictions of the grooming-trade model lay at opposite extremes of this distribution. Second, in accord with the grooming-trade model, we found evidence that male chimpanzees trade grooming for agonistic support where hierarchies are steep (despotic) and consequent effective support is a rank-related commodity, but not where hierarchies are shallow (egalitarian). However, we also found that grooming was reciprocated regardless of hierarchy steepness. Our findings also hint at the possibility of agonistic competition, or at least exclusion, in relation to grooming opportunities compromising the free market envisioned by biological market theory. Our results build on previous findings across chimpanzee communities to emphasize the importance of reciprocal grooming exchanges among adult male chimpanzees, which can be understood in a biological markets framework if grooming by or with particular individuals is

  17. Review of inter-utility trade in electricity: Analyses of submissions

    International Nuclear Information System (INIS)

    1994-04-01

    In November 1992, Canada's National Energy Board released two discussion papers describing its review of inter-utility trade in electricity. The review was undertaken to report on measures that could be taken to enhance interprovincial trade in electricity by encouraging greater cooperation among utilities in systems planning and development, and by enabling buyers and sellers of electricity to obtain commercial access to available transmission capacity through intermediate provinces for wheeling purposes. Interested parties were invited to comment on the papers and 42 responses were received from Canadian utilities, provincial governments, regulatory agencies, and others. These responses are summarized and analyzed, providing an indication of how future policy initiatives on electricity trade might be received. Most submitters agreed that there is a need to enable commercial access to available transmission capacity through intermediate provinces for wheeling purposes. Of the seven options described in the discussion papers that would enable buyers and sellers of electricity to gain commercial access to transmission grids, the status quo was preferred by those utilities and provinces that have direct access to export markets by virtue of their geographic location. Those utilities and provinces that do not have such direct access tend to support, as a last resort, mandated solutions to disputes concerning electricity trade. 78 figs

  18. Substantial nitrogen pollution embedded in international trade

    Science.gov (United States)

    Oita, Azusa; Malik, Arunima; Kanemoto, Keiichiro; Geschke, Arne; Nishijima, Shota; Lenzen, Manfred

    2016-02-01

    Anthropogenic emissions of reactive nitrogen to the atmosphere and water bodies can damage human health and ecosystems. As a measure of a nation’s contribution to this potential damage, a country’s nitrogen footprint has been defined as the quantity of reactive nitrogen emitted during the production, consumption and transportation of commodities consumed within that country, whether those commodities are produced domestically or internationally. Here we use global emissions databases, a global nitrogen cycle model, and a global input-output database of domestic and international trade to calculate the nitrogen footprints for 188 countries as the sum of emissions of ammonia, nitrogen oxides and nitrous oxide to the atmosphere, and of nitrogen potentially exportable to water bodies. Per-capita footprints range from under 7 kg N yr-1 in some developing countries to over 100 kg N yr-1 in some wealthy nations. Consumption in China, India, the United States and Brazil is responsible for 46% of global emissions. Roughly a quarter of the global nitrogen footprint is from commodities that were traded across country borders. The main net exporters have significant agricultural, food and textile exports, and are often developing countries, whereas important net importers are almost exclusively developed economies. We conclude that substantial local nitrogen pollution is driven by demand from consumers in other countries.

  19. Understanding international commodity price fluctuations

    NARCIS (Netherlands)

    Arezki, Rabah; Loungani, Prakash; van der Ploeg, Rick; Venables, Anthony J.

    An overview is provided of recent work on commodity prices, focusing on three themes: (i) "financialization" of commodity markets--commodities being considered by financial investors as a distinct asset class, (ii) trends and forecasts of commodity prices, and (iii) fracking-a shorthand for the

  20. 17 CFR 41.27 - Prohibition of dual trading in security futures products by floor brokers.

    Science.gov (United States)

    2010-04-01

    ... trading in a security futures product on a designated contract market or registered derivatives...) Registered derivatives transaction execution facilities. Prior to listing a security futures product for... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Prohibition of dual trading in...

  1. Ethical food standard schemes and global trade

    DEFF Research Database (Denmark)

    Daugbjerg, Carsten; Botterill, Linda Courtenay

    2012-01-01

    Global food trade embodies a range of different interpretations of the nature of food and its role in society. On the one hand, the WTO food regulation regime, in particular the SPS agreement, is based upon a somewhat instrumental value of food consumption in which food is seen as a commodity...... base of each institution while giving expression to both materialist and postmaterialist understandings of the nature of food....... to be traded in accordance with international trade rules. At the same time, a number of private standards, such as GlobalG.A.P and various organic standards, are emerging which embody broadly postmaterialist values that suggest that food purchasing and consumption are also social, ethical and perhaps even...

  2. Financialization of commodities

    Directory of Open Access Journals (Sweden)

    Michał Falkowski

    2011-12-01

    Full Text Available The basic theory of price formation tells us how the price of a particular asset will change based on the adjustment to its supply and demand. However, values of assets are also determined by other business fundamentals, company’s and world events, human psychology, and investors’ belief about the possible future profit. In recent history that lead to an increase of individual and institutional investors’ interest in allocating their resources in commodity markets. With a large inflow of capital commodities’ prices started to rise making them attractive components to effective investment portfolios. The presented paper addresses the issue of so called commodities ‘financialization’ process. It looks at the main factors standing behind commodities’ price movements and to what extent financial market participants contributed to commodities price volatility in recent years. Based on the data examined it distinguishes the involvement of both commercial and non-commercial traders in short and long term periods of time. As well as explaining the impact of growing investors’ interest in commodity markets it defines other market forces - like currency appreciations and emerging markets - as being part of increased volatility in raw and soft commodity markets. Along with market examination the paper focuses on possible future outcomes in attempts to regulate commodities derivatives markets and potential effects of those efforts.

  3. Commodity derivatives pricing with inventory effects

    DEFF Research Database (Denmark)

    Bach, Christian; Dziubinski, Matt P.

    We introduce tractable models for commodity derivatives pricing with inventory and volatility eects, and illustrate with applications to the oil market. We contribute to the existing literature in several respects. First, whereas the previous literature uses futures data for investigating...... the relationship between inventory and volatility, we use the information available in options traded on futures. Second, performance assessment in the previous literature has primarily evolved around explaining moments of data or forecasting prices of futures. Instead, we asses the performance of our model...... by considering both the ability of explaining prices in-sample and out-of-sample - assessing both the pricing-performance and the hedging-performance of the models. Third, we model the futures surface rather than the spot price process, and from the no-arbitrage relationship between spot and futures prices we...

  4. Impacts of ASEAN Agricultural Trade Liberalization on ASEAN-6 Economies and Income Distribution in Indonesia

    OpenAIRE

    Rina Oktaviani; Eka Puspitawati; Haryadi

    2008-01-01

    This research paper intends to analyse: (a) the impacts of ASEAN trade liberalization on the macroeconomy variables – gross domestic product (GDP), Terms of Trade (ToT), balance of trade, inflation and real wage – and agricultural industries (output, exports and imports) in the ASEAN 6 countries (Indonesia, Malaysia, the Philippines, Thailand, Singapore, and Viet Nam); and (b) the impact of trade liberalization on income distribution in Indonesia. A multi-country and multi-commodity computabl...

  5. External Sector Rebalancing and Endogenous Trade Imbalance Models

    Directory of Open Access Journals (Sweden)

    John Whalley

    2012-12-01

    Full Text Available I discuss the need for trade models to incorporate endogenous trade imbalances both to more adequately capture the reality of a global economy with large imbalances and pressures from the financial crisis for countries to reduce imbalances. Conventional general equilibrium trade models implicitly incorporate monetary neutrality and either have zero trade balance as a property of equilibrium, or have a fixed and exogenous trade imbalance. Models which are discussed here have a variety of forms. In one, central banks fix exchange rates and operate a non accommodative monetary policy and accumulate reserves. Changes in both trade and monetary policies change reserve accumulative and with the external sector imbalances. This is a reflection of China’s current policy regime. In another intertemporal preferences allow for simultaneous inter commodity and intertemporal trade across countries, and with changed intertemporal trade changed external sector imbalances within the period. These formulations are each applied to potential tax initiatives to aid in rebalancing.

  6. Globalisations in a nutshell: Historical perspectives on the changing governance of the shea commodity chain in northern Ghana

    Directory of Open Access Journals (Sweden)

    Andrew Wardell

    2013-08-01

    Full Text Available Pre-colonial patterns of trade in West Africa included exchanges of shea in periodic local and regional markets. The collection, processing and marketing of shea products in such markets continues to be predominantly by women to both meet subsistence needs, and exchange of surpluses. In the early part of the 20th century, the British colonial administration considered the possibilities of starting large-scale exports of shea kernels to Europe. Multiple colonial initiatives to develop the global trade were not successful due to a composite of factors. Contemporary patterns of production, trade and regulation are contrasted in the context of globalisation in the post-independence era. The government of Ghana has progressively reinforced its ambitions to expand the shea nut trade as part of the state’s portfolio of major non-traditional agricultural export commodities. This policy is embedded within the (now dominant orthodoxy of neo-liberalism, which privileges monetized production systems and private over public regulation. Historically and culturally-embedded patterns of shea production and trade by women in northern Ghana may now be challenged by the emergence of new processing technologies, the emergence of an oligopolistic global commodity chain and the anticipated continued growth in global demand for cocoa butter equivalents.  Nevertheless, the cumulative impacts of increasing commercialisation and world market integration at the national and local level in Ghana, and other West African producer countries, are still unknown. There are risks, however, that this process may result in social differentiation, changes in household consumption patterns and loss of livelihoods, particularly for women.

  7. Virtual water trade and development in Africa

    Science.gov (United States)

    Konar, Megan; Caylor, Kelly

    2014-05-01

    A debate has long existed on the relationships between human population, natural resources, and development. Recent research has expanded this debate to include the impacts of trade; specifically, virtual water trade, or the water footprint of traded commodities. We conduct an empirical analysis of the relationships between virtual water trade, population, and development in Africa. We find that increases in virtual water imports do not lead to increases in population growth nor do they diminish human welfare. We establish a new index of virtual water trade openness and show that levels of undernourishment tend to fall with increased values of virtual water trade openness. Countries with small dam storage capacity obtain a higher fraction of their agricultural water requirements from external sources, which may indicate implicit `infrastructure sharing' across nations. Globally, increased crop exports tends to correlate with increased crop water use efficiency, though this relationship does not hold for Africa. However, internal African trade is much more efficient in terms of embodied water resources than any other region in the world. Thus, internal African trade patterns may be compensating for poor internal production systems.

  8. Virtual water trade and development in Africa

    Directory of Open Access Journals (Sweden)

    M. Konar

    2013-10-01

    Full Text Available A debate has long existed on the relationships between human population, natural resources, and development. Recent research has expanded this debate to include the impacts of trade; specifically, virtual water trade, or the water footprint of traded commodities. We conduct an empirical analysis of the relationships between virtual water trade, population, and development in Africa. We find that increases in virtual water imports do not lead to increases in population growth nor do they diminish human welfare. We establish a new index of virtual water trade openness and show that levels of undernourishment tend to fall with increased values of virtual water trade openness. Countries with small dam storage capacity obtain a higher fraction of their agricultural water requirements from external sources, which may indicate implicit "infrastructure sharing" across nations. Globally, increased crop exports tend to correlate with increased crop water use efficiency, though this relationship does not hold for Africa. However, internal African trade is much more efficient in terms of embodied water resources than any other region in the world. Thus, internal African trade patterns may be compensating for poor internal production systems.

  9. COMMODITY MARKET MATH MODELS

    Directory of Open Access Journals (Sweden)

    Boris V. Mednikov

    2015-01-01

    Full Text Available The article describes enterprise mathmodels, its interactions with environment in commodity market and quantitativeconditions for its success and the crisis in such kind of interaction. Showed: the number of commodity market successfulparticipants should be certain, regardless of market size; any size commodity market, including monopolistic, is assuccessful as producers’ average activity dynamics is balanced with consumers’average activity dynamics.

  10. Foreign Trade Dvelopment between Libya and the European Union

    OpenAIRE

    Mansoor Maitah; Nassir Salim; Abulgasem Bazina

    2011-01-01

    This article deals with the analysis of foreign trade development betweenLibyaand the European Union in the recent years. Libya is one of the developing countries with large area, low density of population and large endowment of natural resources, oil and gas. The Libyan economy like a number of other Arab economies, depends heavily on oil revenue, it relies heavily on a single exportable commodity, as the main source of foreign exchange earnings. Trade relations betweenLibyaand the European ...

  11. Competitiveness analysis of Czech agrarian foreign trade in the context of world agrarian market and agrarian trade of EU-27 countries

    Directory of Open Access Journals (Sweden)

    Miroslav Svatoš

    2010-01-01

    Full Text Available This paper analyses the commodity structure of Czech (CR agrarian trade in relation to the EU countries. An emphasis is put on comparative advantages of particular aggregations from the view-point of their application on the EU internal market. This analysis is based on an evaluation of comparative advantages by means of a modified Balassa index. It is studied in two stages, for the internal EU market and the world market. The analysis results are then shown in a graph. Subsequently, the authors implement an idea arising from a BCG matrix on the results of the graphic presentation. The aim is to identify those aggregations (SITC, rev. 3 which are or have a potential to be a pillar of agri-business (ie, the “cash cows” and “stars”, and vice versa to show the aggregation which are non-prospective in the long term or problematic (ie, the “dogs” and “problem children”. As start are identified as those aggregations which are characterised by the highest growth rate of comparative advantage value. From the analysis results, changes are apparent if we compare the CR trade commodity structure in relation to the EU countries. Findings also concern the development of comparative advantages and following CR specialisation on trade with certain aggregations.

  12. A theoretical model of water and trade

    Science.gov (United States)

    Dang, Qian; Konar, Megan; Reimer, Jeffrey J.; Di Baldassarre, Giuliano; Lin, Xiaowen; Zeng, Ruijie

    2016-03-01

    Water is an essential input for agricultural production. Agriculture, in turn, is globalized through the trade of agricultural commodities. In this paper, we develop a theoretical model that emphasizes four tradeoffs involving water-use decision-making that are important yet not always considered in a consistent framework. One tradeoff focuses on competition for water among different economic sectors. A second tradeoff examines the possibility that certain types of agricultural investments can offset water use. A third tradeoff explores the possibility that the rest of the world can be a source of supply or demand for a country's water-using commodities. The fourth tradeoff concerns how variability in water supplies influences farmer decision-making. We show conditions under which trade liberalization affect water use. Two policy scenarios to reduce water use are evaluated. First, we derive a target tax that reduces water use without offsetting the gains from trade liberalization, although important tradeoffs exist between economic performance and resource use. Second, we show how subsidization of water-saving technologies can allow producers to use less water without reducing agricultural production, making such subsidization an indirect means of influencing water use decision-making. Finally, we outline conditions under which riskiness of water availability affects water use. These theoretical model results generate hypotheses that can be tested empirically in future work.

  13. Effects of Bilateralism and the MFN Clause on International Trade

    DEFF Research Database (Denmark)

    Lampe, Markus

    2009-01-01

    manufactured goods. Gravity model estimates show that specific liberalizations increased exports of corresponding items, but not overall trade. Exporters from countries whose governments used bilateralism strategically to bring down partner tariffs benefitted most. Hence, the network in form and outcome......This study contributes to a revised picture of nineteenth-century bilateralism. Employing a new disaggregated data set, it argues that bilateral treaties did not implement general free trade, but instead reduced tariffs unevenly through commodity-specific preferences, especially favoring...... is more properly identified with reciprocal liberalization practiced by the French than with British free-trade ideology....

  14. Global warming agreements, international trade and energy/carbon embodiments: an input-output approach to the Italian case

    International Nuclear Information System (INIS)

    Mongelli, I.; Tassielli, G.; Notarnicola, B.

    2006-01-01

    In the Kyoto Protocol the absence of Green House Gases (GHGs) commitments of developing countries (non-Annex I) and the more flexible terms of implementation which are allowed to countries shifting toward a market economy (transition economies) naturally lead to the absence or to less constraining national measures and policies of reduction of the GHGs emissions which, in turn, may determine a comparative advantage in the production of the highest energy/carbon intensive commodities for these countries. These arguments are valid also considering the future implementation of the European Emission Allowance Trading Scheme (EATS). Thus, developing countries may become a haven for the production of not environmental-friendly commodities; in this case, the so-called Pollution Haven Hypothesis, stating that due to freer international trade the comparative advantage may change the economic structure and consequently the trade patterns of the countries linked by trade relationships, could occur. This would lead to the increase of the transfers of energy and carbon embodied in traded commodities from developing countries and transition economies toward Kyoto or EATS constrained countries. The aim of this paper is to verify if for Italy, as a Kyoto and EATS complying country, evidence of a change in the trade patterns, occurred on the basis of the Pollution Haven Hypothesis, does exist and to estimate the magnitude of the under-estimation of the carbon actually emitted: the carbon leakage. The Input-Output model has been used to calculate the intensities of energy consumption and the related Green House Gases emission, for each Italian economic sector

  15. Balancing detail and scale in assessing transparency to improve the governance of agricultural commodity supply chains

    Science.gov (United States)

    Godar, Javier; Suavet, Clément; Gardner, Toby A.; Dawkins, Elena; Meyfroidt, Patrick

    2016-03-01

    To date, assessments of the sustainability of agricultural commodity supply chains have largely relied on some combination of macro-scale footprint accounts, detailed life-cycle analyses and fine-scale traceability systems. Yet these approaches are limited in their ability to support the sustainability governance of agricultural supply chains, whether because they are intended for coarser-grained analyses, do not identify individual actors, or are too costly to be implemented in a consistent manner for an entire region of production. Here we illustrate some of the advantages of a complementary middle-ground approach that balances detail and scale of supply chain transparency information by combining consistent country-wide data on commodity production at the sub-national (e.g. municipal) level with per shipment customs data to describe trade flows of a given commodity covering all companies and production regions within that country. This approach can support supply chain governance in two key ways. First, enhanced spatial resolution of the production regions that connect to individual supply chains allows for a more accurate consideration of geographic variability in measures of risk and performance that are associated with different production practices. Second, identification of key actors that operate within a specific supply chain, including producers, traders, shippers and consumers can help discriminate coalitions of actors that have shared stake in a particular region, and that together are capable of delivering more cost-effective and coordinated interventions. We illustrate the potential of this approach with examples from Brazil, Indonesia and Colombia. We discuss how transparency information can deepen understanding of the environmental and social impacts of commodity production systems, how benefits are distributed among actors, and some of the trade-offs involved in efforts to improve supply chain sustainability. We then discuss the challenges and

  16. 77 FR 10479 - North American Free Trade Agreement, Article 1904; NAFTA Panel Reviews; First Request for Panel...

    Science.gov (United States)

    2012-02-22

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free Trade Agreement... Section of the NAFTA Secretariat pursuant to Article 1904 of the North American Free Trade Agreement... American Free Trade Agreement (``Agreement'') established a mechanism to replace domestic judicial review...

  17. 77 FR 66441 - North American Free Trade Agreement, Article 1904 NAFTA Panel Reviews; First Request for Panel...

    Science.gov (United States)

    2012-11-05

    ... DEPARTMENT OF COMMERCE International Trade Administration North American Free Trade Agreement... North American Free Trade Agreement. Panel Review was requested of the U.S. Department of Commerce's..., (202) 482-5438. SUPPLEMENTARY INFORMATION: Chapter 19 of the North American Free Trade Agreement...

  18. Virtual water trade patterns in relation to environmental and socioeconomic factors : A case study for Tunisia

    NARCIS (Netherlands)

    Chouchane, Hatem; Krol, Martinus S.; Hoekstra, Arjen Y.

    2018-01-01

    Growing water demands put increasing pressure on local water resources, especially in water-short countries. Virtual water trade can play a key role in filling the gap between local demand and supply of water-intensive commodities. This study aims to analyse the dynamics in virtual water trade of

  19. Influence of trade on national CO2 emissions

    International Nuclear Information System (INIS)

    Munksgaard, Jesper; Pade, Lise-Lotte; Minx, Jan; Lenzen, Manfred

    2005-01-01

    International trade has an impact on national CO 2 emissions and consequently on the ability to fulfil national CO 2 reduction targets. Through goods and services traded in a globally interdependent world, the consumption in each country is linked to greenhouse gas emissions in other countries. It has been argued that in order to achieve equitable reduction targets, international trade has to be taken into account when assessing nations' responsibility for abating climate change. Especially for open economies such as Denmark, greenhouse gases embodied in internationally traded commodities can have a considerable influence on the national 'greenhouse gas responsibility'. By using input-output modelling, we analyse the influence from international trade on national CO 2 emissions. The aim is to show that trade is the key to define CO 2 responsibility on a macroeconomic level and that imports should be founded in a multi-region model approach. Finally, the paper concludes on the need to consider the impact from foreign trade when negotiating reduction targets and base line scenarios. (Author)

  20. The competitiveness of Slovak foreign trade in the European market

    Directory of Open Access Journals (Sweden)

    Pavličková Viera

    2013-01-01

    Full Text Available The paper deals with the competitiveness of the Slovak Republic in its ability to succeed in foreign markets. It provides a complex view of Slovak foreign trade within the European Union using a sectoral classification of products. Several appropriate methods (Constant Market Share Analysis, Revealed Comparative Advantage, Michaely Index, and unit export and import values are applied to quantify the competitiveness of Slovak foreign trade and to identify the level and trend of its specialisation. The analysis uses the data provided by the Eurostat Comext database for the period 1999-2011. The results confirmed Slovakia as a former transition country to be a fast developing open economy. Its production is competitive in the European market, although mainly with prices. Labour- and capital-intensive commodities, along with the automotive industry, dominate Slovak foreign trade. Technology- and R&D-driven goods have a comparative disadvantage as a consequence of several factors, such as lack of innovation and creativity in the business sphere. A shift towards export of more sophisticated products would be beneficial in supporting long-term sustainable development; however, no significant change in Slovak commodity structure has occurred over the past years.

  1. Annual Energy Review 2010

    Energy Technology Data Exchange (ETDEWEB)

    None

    2011-10-01

    This twenty-ninth edition of the Annual Energy Review (AER) presents the U.S. Energy Information Administration’s (EIA) most comprehensive look at integrated energy statistics. The summary statistics on the Nation’s energy production, consumption, trade, stocks, and prices cover all major energy commodities and all energy-consuming sectors of the U.S. economy from 1949 through 2010. The AER is EIA’s historical record of energy statistics and, because the coverage spans six decades, the statistics in this report are well-suited to long-term trend analysis.

  2. The water footprints of Morocco and the Netherlands: Global water use as a result of domestic consumption of agricultural commodities

    NARCIS (Netherlands)

    Hoekstra, Arjen Ysbert; Chapagain, Ashok

    2007-01-01

    The volume of international trade in agricultural commodities is increasing faster than the global volume of production, which is an indicator of growing international dependencies in the area of food supply. Although less obvious, it also implies growing international dependencies in the field of

  3. Dynamic of consumer groups and response of commodity markets by principal component analysis

    Science.gov (United States)

    Nobi, Ashadun; Alam, Shafiqul; Lee, Jae Woo

    2017-09-01

    This study investigates financial states and group dynamics by applying principal component analysis to the cross-correlation coefficients of the daily returns of commodity futures. The eigenvalues of the cross-correlation matrix in the 6-month timeframe displays similar values during 2010-2011, but decline following 2012. A sharp drop in eigenvalue implies the significant change of the market state. Three commodity sectors, energy, metals and agriculture, are projected into two dimensional spaces consisting of two principal components (PC). We observe that they form three distinct clusters in relation to various sectors. However, commodities with distinct features have intermingled with one another and scattered during severe crises, such as the European sovereign debt crises. We observe the notable change of the position of two dimensional spaces of groups during financial crises. By considering the first principal component (PC1) within the 6-month moving timeframe, we observe that commodities of the same group change states in a similar pattern, and the change of states of one group can be used as a warning for other group.

  4. The Effects of Protection on the Factor Content of Japanese and American Foreign Trade.

    OpenAIRE

    Staiger, Robert W; Deardorff, Alan V; Stern, Robert M

    1988-01-01

    Data on pre-Tokyo Round tariffs and ad valorem approximations of nontariff barriers are used in the Michigan Computational Model of World Production and Trade to calculate changes in commodity trade attributable to protection in Japan and the United States. Data on factor requirements in production are then used to calculate the factor contents of these computed changes in trade. Results indicate that Japanese protection is more distortionary of factor markets in Japan and the United States t...

  5. 7 CFR 250.57 - Commodity schools.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 4 2010-01-01 2010-01-01 false Commodity schools. 250.57 Section 250.57 Agriculture... TERRITORIES AND POSSESSIONS AND AREAS UNDER ITS JURISDICTION National School Lunch Program (NSLP) and Other Child Nutrition Programs § 250.57 Commodity schools. (a) Categorization of commodity schools. Commodity...

  6. Gravity models of forest products trade: applications to forecasting and policy analysis

    Science.gov (United States)

    Joseph Buongiorno

    2016-01-01

    To predict the value of trade between countries, a differential gravity model of bilateral trade flowswas formulated and estimated with panel data from 2005 to 2014 for each of the commodity groups HS44 (wood and articles of wood), HS47 (pulp of wood, fibrous cellulosic material) and HS48 (paper and paperboard). The parameters were estimated with a large database by...

  7. Trade-off study of liquid-metal self-cooled blankets

    International Nuclear Information System (INIS)

    Gohar, Y.

    1986-01-01

    A trade-off study of liquid-metal self-cooled blankets was carried out to define the performance of these blankets with respect to the main functions in a fusion reactor, and to determine the potential to operate at the maximum possible values of the performance parameters. The main purpose is to improve the reactor economics by maximizing the blanket energy multiplication factor, reduce the capital cost of the reactor, and satisfy the design requirements. The main parameters during the course of the study were the tritium breeding ratio (TBR), the blanket energy multiplication factor, the energy fraction lost to the shield, the 6 Li enrichment in the breeder material, the total blanket thickness, the reflector material selection, and the compositions of the different blanket zones. Also, the impact of different reactor design choices on the performance parameters was analyzed. The effect of the impurity control system (limiter or divertor), the material choice for the limiter, the elimination of tritium breeding from the inboard section of tokamak reactors, the coolant choice for the nonbreeding inboard blanket, and the neutron source distribution were part of the trade-off study. In addition, tritium breeding benchmark calculations were performed to study the impact of the use of different transport codes and nuclear data libraries. The importance and the negative effect of high TBR on the energy multiplication motivated the benchmark calculations

  8. 29 CFR 780.114 - Wild commodities.

    Science.gov (United States)

    2010-07-01

    ... Agricultural Or Horticultural Commodities § 780.114 Wild commodities. Employees engaged in the gathering or harvesting of wild commodities such as mosses, wild rice, burls and laurel plants, the trapping of wild... 29 Labor 3 2010-07-01 2010-07-01 false Wild commodities. 780.114 Section 780.114 Labor Regulations...

  9. Disentangling regional trade agreements, trade flows and tobacco affordability in sub-Saharan Africa.

    Science.gov (United States)

    Appau, Adriana; Drope, Jeffrey; Labonté, Ronald; Stoklosa, Michal; Lencucha, Raphael

    2017-11-14

    In principle, trade and investment agreements are meant to boost economic growth. However, the removal of trade barriers and the provision of investment incentives to attract foreign direct investments may facilitate increased trade in and/or more efficient production of commodities considered harmful to health such as tobacco. We analyze existing evidence on trade and investment liberalization and its relationship to tobacco trade in Sub-Saharan African countries. We compare tobacco trading patterns to foreign direct investments made by tobacco companies. We estimate and compare changes in the Konjunkturforschungsstelle (KOF) Economic Globalization measure, relative price measure and cigarette prices. Preferential regional trade agreements appear to have encouraged the consolidation of cigarette production, which has shaped trading patterns of tobacco leaf. Since 2002, British American Tobacco has invested in tobacco manufacturing facilities in Nigeria, Kenya and South Africa strategically located to serve different regions in Africa. Following this, British America Tobacco closed factories in Ghana, Rwanda, Uganda, Mauritius and Angola. At the same time, Malawi and Tanzania exported a large percentage of tobacco leaf to European countries. After 2010, there was an increase in tobacco exports from Malawi and Zambia to China, which may be a result of preferential trade agreements the EU and China have with these countries. Economic liberalization has been accompanied by greater cigarette affordability for the countries included in our analysis. However, only excise taxes and income have an effect on cigarette prices within the region. These results suggest that the changing economic structures of international trade and investment are likely heightening the efficiency and effectiveness of the tobacco industry. As tobacco control advocates consider supply-side tobacco control interventions, they must consider carefully the effects of these economic agreements and

  10. Changes in Polish foreign trade in agri-food products under accession to the European Union Zmainy w polskim handlu zagranicznym produktami rolno-spożywczymi w warunkach integracji z Unią Europejską

    Directory of Open Access Journals (Sweden)

    Karolina Pawlak

    2007-12-01

    Full Text Available The aim of the paper is to assess main trends and changes in commodity structure of Polish agri-food trade in 2003-2006. Joining in the Common Market and adopting the Common Trade Policy rules caused the significant growth of Polish agri-food trade values and improvement in the positive trade balance. Taking into account loss or reduction of some cost advantages, as well as liberalization of world agricultural trade, next years can be much more difficult for Polish exporters. The highest export potential applies to trade in animal origin products. Considering commodity structure of Polish agri-food trade, it should be said that processed products dominate both in export and in import.

  11. TERMS OF TRADE EVOLUTION, CAUSES AND EFFECTS: CASE STUDY ROMANIA

    Directory of Open Access Journals (Sweden)

    Negrea Adrian

    2014-12-01

    Full Text Available Terms of trade are meant to show the ratio by which a country is different in the level and dynamics of revenues from the exchange made by different categories of products on the external markets. The level of recorded revenues from the commercialization of products and services varies from country to country, and there is rarely a mutually beneficial exchange situation from these operations. Trade efficiency analysis lies in the determination of the terms of trade. In the current paper, international developments are analyzed based on net terms of trade index used by UNCTAD. Statistical data are provided by the World Bank, where export and import price index and the volume of imports and exports by countries were considered. The classification of the countries has been done according to the geographical orientation and based on the purchasing power parity, thus creating two tables, the first table highlighting seven regions, and the second table with seven categories of states including OPEC and non-OPEC members. The terms of trade evolution are influenced by certain important factors in the production process of goods and services. Some of these factors are mentioned: labour productivity; changes in commodity prices; yet, only the last factor is examined in this paper. Based on World Bank commodity price data, the evolution of major energy inputs such as crude oil, gas, coal, and major industrial raw materials such as aluminium, copper, lead, nickel, tin, zinc, silver, gold, platinum and iron was analysed and interpreted. For Romania, the data on terms of trade evolution shows a dramatic situation. If terms of trade development presented a cyclical evolution, the economy as a whole would send an optimistic message. In contrast, the data presented in the following paper will show that our country has registered continuous depreciation of the terms of trade ratio, with a direct impact on external trade balance deficits, a rising external debt

  12. Titanium recycling in the United States in 2004, chap. Y of Sibley, S.F., ed., Flow studies for recycling metal commodities in the United States

    Science.gov (United States)

    Goonan, Thomas G.

    2010-01-01

    As one of a series of reports that describe the recycling of metal commodities in the United States, this report discusses the titanium metal fraction of the titanium economy, which generates and uses titanium metal scrap in its operations. Data for 2004 were selected to demonstrate the titanium flows associated with these operations. This report includes a description of titanium metal supply and demand in the United States to illustrate the extent of titanium recycling and to identify recycling trends. In 2004, U.S. apparent consumption of titanium metal (contained in various titanium-bearing products) was 45,000 metric tons (t) of titanium, which was distributed as follows: 25,000 t of titanium recovered as new scrap, 9,000 t of titanium as titanium metal and titanium alloy products delivered to the U.S. titanium products reservoir, 7,000 t of titanium consumed by steelmaking and other industries, and 4,000 t of titanium contained in unwrought and wrought products exported. Titanium recycling is concentrated within the titanium metals sector of the total titanium market. The titanium market is otherwise dominated by pigment (titanium oxide) products, which generate dissipative losses instead of recyclable scrap. In 2004, scrap (predominantly new scrap) was the source of roughly 54 percent of the titanium metal content of U.S.-produced titanium metal products.

  13. TIME ZONE DIFFERENCE, COMPARATIVE ADVANTAGE AND TRADE: A REVIEW OF LITERATURE

    Directory of Open Access Journals (Sweden)

    Alaka Shree Prasad

    2017-09-01

    Full Text Available With the growing development in communication technology and increased fragmentation of production process, services that were once considered non-tradable can now be traded across different nations. In this respect, trading countries located in different time zones of the world with non-overlapping working hours are able to develop a comparative advantage together for the supply of these services. Disintegrating the production of a service across different time zones can allow the production to be completed efficiently and make the product available in the market meeting consumer demand in a timely fashion. In this paper, we have reviewed some of important research that has been conducted in the area of time zone differences and trade. This type of trade further affects the factor market and production patterns of the involved countries and has also been significant for their growth and welfare.

  14. Modeling phytosanitary risk of unintended commodity use: the example of U.S. potato exports to Mexico.

    Science.gov (United States)

    Fowler, Glenn; Erikson, Lottie; Caton, Barney; Gutierrez, Walter; Griffin, Robert

    2014-09-01

    Diversion of commodities from their intended use to an unintended use, e.g., when commodities intended for consumption are used as seed for planting, is an important issue in agricultural trade that has implications for the establishment of pests and pathogens in an importing country and for the appropriate strength of plant health measures. Consequently, understanding and accurately characterizing the risk of diversion from intended use is highly relevant to policymakers, trading partners, and in trade dispute arbitration. To our knowledge, no risk assessments have ever accounted for the likelihood of diversion from intended use. Here we present an approach to analyzing this risk using diversion of U.S. table stock potatoes to seed for planting by Mexican potato producers as a case study. We use probabilistic pathway models to characterize the movement of white, yellow, and russet potatoes from the United States into Mexico at current and double export volumes. We then model the likelihood of these potatoes being diverted for seed and the subsequent establishment of bacteria, nematode, and virus pests in Mexico. Our approach demonstrates how diversion from intended use can be quantified in one scenario and, in particular, how it can be analyzed to estimate the magnitude of diversion required to produce a high risk of pest establishment. © 2014 Society for Risk Analysis Published 2014. This article is a U.S. Government work and is in the public domain for the U.S.A.

  15. THE ANALYSIS OF THE COMMODITY PRICE FORECASTING SUCCESS CONSIDERING DIFFERENT LENGTHS OF THE INITIAL CONDITION DRIFT

    Directory of Open Access Journals (Sweden)

    Marcela Lascsáková

    2015-09-01

    Full Text Available In the paper the numerical model based on the exponential approximation of commodity stock exchanges was derived. The price prognoses of aluminium on the London Metal Exchange were determined as numerical solution of the Cauchy initial problem for the 1st order ordinary differential equation. To make the numerical model more accurate the idea of the modification of the initial condition value by the stock exchange was realized. By having analyzed the forecasting success of the chosen initial condition drift types, the initial condition drift providing the most accurate prognoses for the commodity price movements was determined. The suggested modification of the original model made the commodity price prognoses more accurate.

  16. 17 CFR 275.206(3)-3T - Temporary rule for principal trades with certain advisory clients.

    Science.gov (United States)

    2010-04-01

    ... trades with certain advisory clients. 275.206(3)-3T Section 275.206(3)-3T Commodity and Securities... 1940 § 275.206(3)-3T Temporary rule for principal trades with certain advisory clients. (a) An..., sells to or purchases from an advisory client any security if: (1) The investment adviser exercises no...

  17. 75 FR 60411 - Request for Comment on Options for a Proposed Exemptive Order Relating to the Trading and...

    Science.gov (United States)

    2010-09-30

    ... in the precious metals markets. \\28\\ See http://www.sec.gov/Archives/edgar/data/1459862... efficient exposure to commodity market price movements.\\4\\ These Precious Metal Commodity-Based ETFs have... conditions to the exemption orders) and that novel products may be introduced without undue delay for market...

  18. Cross border trade in grain between Nigeria and neighbouring Niger: Risk management assessment along Sokoto Illela-Konni border land

    Directory of Open Access Journals (Sweden)

    John Chiwuzulum Odozi

    2015-12-01

    Full Text Available Grain is an important marketable commodity that is hampered by risk of interrelated dimensions, particularly in borderlands of West Africa. Assessing the extent of risk in borderlands can be valuable for policy-makers and likely to contribute to increased regional trade through effective management. Risk management along the grain supply chain was investigated. The methodology was qualitative using desk review of literature and field survey and interviews. While the survey revealed evidence of substantial volume of grain exchange, most of the traders indicated transportation, high taxes and low production of grain as the most important risk factors limiting trade. Production was found to be limited by low access to agricultural insurance, fertilizer, irrigation and credit. Although farmers had access to production information, market information was inadequate. While public grain reserve exists to manage price risk; the capacity was insignificant compared to the magnitude of grain trade in the region. The guaranteed minimum grain price was not collectively determined but by government and their contractors.

  19. Informal E-waste recycling in developing countries: review of metal(loid)s pollution, environmental impacts and transport pathways.

    Science.gov (United States)

    Ackah, Michael

    2017-11-01

    Crude or primitive recycling practices are often adopted in material resource recovery from E-waste in developing nations. Significant human health and environmental impacts may occur because of such practices. Literature on metal(loid)s pollution during E-waste processing is fragmented. Here, I review the health and environmental impacts of E-waste recycling operations and transport pathways of metal(loid)s, dispersed during operations. This paper is organised into five sections. Section 1 relates to the background of global E-waste generation and legal/illegal trade, citing specific cases from Ghana and other developing nations. Section 2 provides a brief information on sources of metal(loid)s in E-waste. Section 3 describes characteristics of informal E-waste recycling operations in developing nations. Section 4 examines the health and environmental impacts in E-waste recycling while section 5 evaluates major transport pathways of metal(loid)s contaminants.

  20. Global trade and health: key linkages and future challenges.

    Science.gov (United States)

    Bettcher, D W; Yach, D; Guindon, G E

    2000-01-01

    Globalization of trade, marketing and investment has important implications for public health, both negative and positive. This article considers the implications of the single package of World Trade Organization (WTO) agreements for public health research and policy, focusing on three themes: commodities, intellectual property rights, and health services. The main aims of the analysis are as follows: to identify how trade issues are associated with the transnationalization of health risks and possible benefits; to identify key areas of research; and to suggest policy-relevant advice and interventions on trade and health issues. The next wave of international trade law will need to take more account of global public health issues. However, to become more engaged in global trade debates, the public health community must gain an understanding of the health effects of global trade agreements. It must also ensure that its own facts are correct, so that public health is not blindly used for political ends, such as justifying unwarranted economic protectionism. "Healthy trade" policies, based on firm empirical evidence and designed to improve health status, are an important step towards reaching a more sustainable form of trade liberalization.

  1. DYNAMICS AND NEW CHALLENGES IN THE GLOBAL COMMODITY MARKET

    Directory of Open Access Journals (Sweden)

    MARIA CARTAS

    2015-12-01

    Full Text Available Global economy and particularly the world production of goods depends to a large extent on the supply of raw materials, of resource inputs extracted from the environment as well as an easy access to them. Commodities play an important part in the growth of global production and in the world trade in goods and services. The access to raw materials is vital for sustaining the productive capacity of the economy and also for satisfying domestic demand for industrial goods. On the other side, increasing demand for commodities and the need for assuring a sustainable supply pose great challenges on the world economy. The issue of raw materials supply represents a high - priority theme in the political agenda of the European Union. The Raw Materials Initiative launched in 2008 by the European Commission is based on three main pillars: - to ensure the access to raw materials on world market at undistorted conditions; - to foster sustainable supply of raw materials from European sources; - to reduce the EU's consumption of primary raw materials. (EC, 2008. To this end, EC has started to take action in order to ensure access to resources and avoid supply shortages. A great deal of attention is being paid to the study of recent developments in the global and particular commodity markets, taking into consideration fundamental aspects as supply concentration, governance of producing countries, the pressure of demand and its impact on prices, material's substitutability, stressing the role of resource consumption efficiency, recycling and substitution of vital raw materials and thus providing policy makers and industry with reliable information on how to efficiently manage resource inputs. This paper is dealing with the main developments which occurred during the past decade or so in the global commodity market, a major driver of the world economy, with particular reference to selected key -markets - as: aluminium, copper, nickel; cotton; corn, meat - swine

  2. Growth of Non-bank Trade Finance

    OpenAIRE

    Satinder Bhatia

    2017-01-01

    The rise of non-bank trade finance has been especially noticeable in the last decade. Many commodity and e-commerce companies are rapidly entering this arena as sovereign guarantees and collaterals take a backseat making it harder for banks to apply traditional models while lending to businesses. Non-banks which are more nimble occupy space vacated by banks. Increasingly, though, banks have begun to collaborate with non-banks, particularly fintech companies for rapid processi...

  3. 75 FR 81977 - Order Exempting the Trading and Clearing of Certain Products Related to the CBOE Gold ETF...

    Science.gov (United States)

    2010-12-29

    ... Related to the CBOE Gold ETF Volatility Index and Similar Products AGENCY: Commodity Futures Trading... the trading and clearing of certain options (``Options'') on the CBOE Gold ETF Volatility Index (``GVZ... Trust Shares''), an ETF designed to reflect the performance of the price of gold bullion.\\5\\ \\5\\ See...

  4. 17 CFR 33.4 - Designation as a contract market for the trading of commodity options.

    Science.gov (United States)

    2010-04-01

    ... capable of being transferred, assigned or otherwise disposed of other than on or subject to the rules of... regulations: (A) The cash market for the underlying physical exhibits sufficient liquidity such that the... the board of trade. (b) Such board of trade adopts rules which: (1) Prescribe in regard to strike...

  5. Emissions Trading: The Ugly Duckling in European Climate Policy?

    Energy Technology Data Exchange (ETDEWEB)

    Wraake, Markus

    2009-07-15

    The initial years of the European Union's Emissions Trading System (EU ETS) have provided a large-scale testing ground for trading of a new environmental commodity, carbon dioxide. This paper provides an overview of the origins and characteristics of the EU ETS. It then goes on to analyse the most contentious issues that have been discussed in the economics literature and in the public debate surrounding the trading system. The lessons learned are diverse and not all experiences are positive. Nevertheless, invaluable information has been gained from the EU ETS and policy makers in Europe and elsewhere would be wise to make use of it, be they supporters of emissions trading or sceptics to such policies. The paper concludes with a look toward the future, highlighting some upcoming revisions of the EU ETS and at what issues remain unresolved

  6. The analysis of return on speculative trading with futures contracts of agriculture commodities in the context of the currency risk

    Directory of Open Access Journals (Sweden)

    Oldřich Šoba

    2007-01-01

    Full Text Available The paper is focused on analysis of return on speculative operations with futures contracts from the view of participators not undertaking and undertaking the currency risk. The currency risk is determined by unexpected change of relevant exchange rate (currency denomination of futures contracts / domestic currency of participator. The paper analyses the basic factors influencing the profitability of these operations such as relative change of futures contract value, leverage incidence and relative change of relevant exchange rate. The paper is focused on futures contracts of the world most important agricultural commodities. The conclusion of the paper for participators not undertaking the currency risk is following: The relative change of futures contract is main factor for the calculation of return on speculative operation. This change is multiplied by leverage incidence finally. The conclusion of the paper for participators undertaking the currency risk is following: The relative change of relevant exchange rate is not usually relevant for the calculation of return on speculative operation. Main factor is the relative change of futures contract because this change is multiplied by leverage incidence finally but the relative change of relevant exchange rate isn’t.Neverthless the conclusions of this paper are not valid only for futures contracts of agricultural commodities but generally also for other commodity futures contracts and futures contracts where underlying assets are not commodities but for example financial assets.

  7. 78 FR 61334 - Silicon Metal From the Russian Federation: Final Results of the Expedited Second Sunset Review of...

    Science.gov (United States)

    2013-10-03

    ... DEPARTMENT OF COMMERCE International Trade Administration [A-821-817] Silicon Metal From the... AGENCY: Import Administration, International Trade Administration, Department of Commerce. DATES... Administration, International Trade Administration, U.S. Department of Commerce, 14th Street and Constitution...

  8. International trade drives biodiversity threats in developing nations.

    Science.gov (United States)

    Lenzen, M; Moran, D; Kanemoto, K; Foran, B; Lobefaro, L; Geschke, A

    2012-06-06

    Human activities are causing Earth's sixth major extinction event-an accelerating decline of the world's stocks of biological diversity at rates 100 to 1,000 times pre-human levels. Historically, low-impact intrusion into species habitats arose from local demands for food, fuel and living space. However, in today's increasingly globalized economy, international trade chains accelerate habitat degradation far removed from the place of consumption. Although adverse effects of economic prosperity and economic inequality have been confirmed, the importance of international trade as a driver of threats to species is poorly understood. Here we show that a significant number of species are threatened as a result of international trade along complex routes, and that, in particular, consumers in developed countries cause threats to species through their demand of commodities that are ultimately produced in developing countries. We linked 25,000 Animalia species threat records from the International Union for Conservation of Nature Red List to more than 15,000 commodities produced in 187 countries and evaluated more than 5 billion supply chains in terms of their biodiversity impacts. Excluding invasive species, we found that 30% of global species threats are due to international trade. In many developed countries, the consumption of imported coffee, tea, sugar, textiles, fish and other manufactured items causes a biodiversity footprint that is larger abroad than at home. Our results emphasize the importance of examining biodiversity loss as a global systemic phenomenon, instead of looking at the degrading or polluting producers in isolation. We anticipate that our findings will facilitate better regulation, sustainable supply-chain certification and consumer product labelling.

  9. Google matrix analysis of the multiproduct world trade network

    Science.gov (United States)

    Ermann, Leonardo; Shepelyansky, Dima L.

    2015-04-01

    Using the United Nations COMTRADE database [United Nations Commodity Trade Statistics Database, available at: http://comtrade.un.org/db/. Accessed November (2014)] we construct the Google matrix G of multiproduct world trade between the UN countries and analyze the properties of trade flows on this network for years 1962-2010. This construction, based on Markov chains, treats all countries on equal democratic grounds independently of their richness and at the same time it considers the contributions of trade products proportionally to their trade volume. We consider the trade with 61 products for up to 227 countries. The obtained results show that the trade contribution of products is asymmetric: some of them are export oriented while others are import oriented even if the ranking by their trade volume is symmetric in respect to export and import after averaging over all world countries. The construction of the Google matrix allows to investigate the sensitivity of trade balance in respect to price variations of products, e.g. petroleum and gas, taking into account the world connectivity of trade links. The trade balance based on PageRank and CheiRank probabilities highlights the leading role of China and other BRICS countries in the world trade in recent years. We also show that the eigenstates of G with large eigenvalues select specific trade communities.

  10. Metal-ceramic alloys in dentistry: a review.

    Science.gov (United States)

    Roberts, Howard W; Berzins, David W; Moore, B Keith; Charlton, David G

    2009-02-01

    The purpose of this article is to review basic information about the alloys used for fabricating metal-ceramic restorations in dentistry. Their compositions, properties, advantages, and disadvantages are presented and compared. In addition to reviewing traditional noble-metal and base-metal metal-ceramic alloys, titanium and gold composite alloys are also discussed. A broad search of the published literature was performed using Medline to identify pertinent current articles on metal-ceramic alloys as well as articles providing a historical background about the development of these alloys. Textbooks, the internet, and manufacturers' literature were also used to supplement this information. The review discusses traditional as well as more recently-developed alloys and technologies used in dentistry for fabricating metal-ceramic restorations. Clear advantages and disadvantages for these alloy types are provided and discussed as well as the role that compositional variations have on the alloys' performance. This information should enable clinicians and technicians to easily identify the important physical properties of each type and their primary clinical indications. A number of alloys and metals are available for metal-ceramic use in dentistry. Each has its advantages and disadvantages, primarily based on its specific composition. Continuing research and development are resulting in the production of new technologies and products, giving clinicians even more choices in designing and fabricating metal-ceramic restorations.

  11. Feeding humanity through global food trade

    Science.gov (United States)

    D'Odorico, Paolo; Carr, Joel A.; Laio, Francesco; Ridolfi, Luca; Vandoni, Stefano

    2014-09-01

    The recent intensification of international trade has led to a globalization of food commodities and to an increased disconnection between human populations and the land and water resources that support them through crop and livestock production. Several countries are not self-sufficient and depend on imports from other regions. Despite the recognized importance of the role of trade in global and regional food security, the societal reliance on domestic production and international trade remains poorly quantified. Here we investigate the global patterns of food trade and evaluate the dependency of food security on imports. We investigate the relationship existing between the trade of food calories and the virtual transfer of water used for their production. We show how the amount of food calories traded in the international market has more than doubled between 1986 and 2009, while the number of links in the trade network has increased by more than 50%. Likewise, global food production has increased by more than 50% in the same period, providing an amount of food that is overall sufficient to support the global population at a rate of 2700-3000 kcal per person per day. About 23% of the food produced for human consumption is traded internationally. The water use efficiency of food trade (i.e., food calories produced per unit volume of water used) has declined in the last few decades. The water use efficiency of food production overall increases with the countries' affluence; this trend is likely due to the use of more advanced technology.

  12. Founding Digital Currency on Imprecise Commodity

    OpenAIRE

    Yuan, Zimu; Xu, Zhiwei

    2015-01-01

    Current digital currency schemes provide instantaneous exchange on precise commodity, in which "precise" means a buyer can possibly verify the function of the commodity without error. However, imprecise commodities, e.g. statistical data, with error existing are abundant in digital world. Existing digital currency schemes do not offer a mechanism to help the buyer for payment decision on precision of commodity, which may lead the buyer to a dilemma between having to buy and being unconfident....

  13. Bayesian Networks to Compare Pest Control Interventions on Commodities Along Agricultural Production Chains.

    Science.gov (United States)

    Holt, J; Leach, A W; Johnson, S; Tu, D M; Nhu, D T; Anh, N T; Quinlan, M M; Whittle, P J L; Mengersen, K; Mumford, J D

    2018-02-01

    The production of an agricultural commodity involves a sequence of processes: planting/growing, harvesting, sorting/grading, postharvest treatment, packing, and exporting. A Bayesian network has been developed to represent the level of potential infestation of an agricultural commodity by a specified pest along an agricultural production chain. It reflects the dependency of this infestation on the predicted level of pest challenge, the anticipated susceptibility of the commodity to the pest, the level of impact from pest control measures as designed, and any variation from that due to uncertainty in measure efficacy. The objective of this Bayesian network is to facilitate agreement between national governments of the exporters and importers on a set of phytosanitary measures to meet specific phytosanitary measure requirements to achieve target levels of protection against regulated pests. The model can be used to compare the performance of different combinations of measures under different scenarios of pest challenge, making use of available measure performance data. A case study is presented using a model developed for a fruit fly pest on dragon fruit in Vietnam; the model parameters and results are illustrative and do not imply a particular level of fruit fly infestation of these exports; rather, they provide the most likely, alternative, or worst-case scenarios of the impact of measures. As a means to facilitate agreement for trade, the model provides a framework to support communication between exporters and importers about any differences in perceptions of the risk reduction achieved by pest control measures deployed during the commodity production chain. © 2017 Society for Risk Analysis.

  14. Implications for climate change policy of trends in exports and imports of energy commodities and manufactured goods

    International Nuclear Information System (INIS)

    Ward, Murray

    2005-11-01

    A number of formal and informal policy processes are underway to explore the issue of 'where to next' for the international climate change regime post-2012. Currently these are informed by data based mainly on production statistics only. A key purpose of this study and report is to raise issues associated with trade in energy commodities and manufactured goods, in order to ensure that important perspectives which can be discerned from considering this 'consumption side' are not overlooked. A number of previous studies and papers have explored issues regarding embodied greenhouse gas emissions in traded energy commodities and manufactured goods. This study draws out key messages from these. It also expands on the existing literature by covering some non-CO2 greenhouse gas emissions, and also by considering traded renewables-based commodities. This work is not intended to be a comprehensive resource of quantitative data. Rather, examples of data are selected to help articulate and elaborate key issues. Section 2 describes the nature of the data sets that have been researched and utilised in developing any quantitative results. It outlines some relevant limitations of the methodologies underlying these data sets, and the nature of uncertainties. It also describes the methodology used in this work to unpack and/or re-present data. Section 3 provides data and analysis addressing the key objective noted above, i.e. to identify 'significant instances where transferred benefits and avoided costs occur - and the extent to which the exporter is likely to be compensated in the absence of policies intended for this purpose'. Section 4 draws out some of the key policy-relevant 'messages' and issues from this data. It uses a number of example cases to help do this, in a manner that is intended to be thought provoking, but not judgemental or prejudicial. Appendix A lists the existing literature that has informed this report. Appendix B reproduces a paper written on a subject that

  15. Trade liberalization and state support of agriculture: effects for developing countries

    NARCIS (Netherlands)

    Erokhin, V.; Ivolga, A.; Heijman, W.J.M.

    2014-01-01

    The paper aims at the overview of the main approaches of state support implemented by developed and developing countries and the assessment of their distorting influences on the trade with agricultural commodities. The current state of state support is analyzed on the examples of EU-27, the USA and

  16. Determinants of prices increase of agricultural commodities in a global context1

    Directory of Open Access Journals (Sweden)

    Borychowski Michał

    2015-12-01

    Full Text Available The main objective of this article is to present the determinants of increase in agricultural commodity prices after 2006. The other specific aim is to show the factors affecting agricultural raw materials and food prices in the global context. This article is a review paper of the determinants of recent commodity and food prices spikes. However, it provides an outlook on these determinants that were the most important for the increases in the last decade. The last part of the article (conclusions to some extent is a synthesis of considerations and includes the authors’ opinions concerning determinants and an attempt to identify which ones were the most important in the growth of agricultural commodity prices. These increases in agricultural commodity prices resulted from many factors and it is very difficult to separate the individual impact of each of them, because they occurred in parallel. However, it is possible to indicate several main reasons for these price increases, which are: adverse changes in supply-demand relations in agricultural markets, increases in oil prices (and increases of the volatility of those prices, development of biofuel production from agricultural commodities (the first generation biofuels, dollar depreciation, an increase in operations of a speculative nature on commodity markets and improper economic policy that created an environment for the growth of prices of agricultural products.

  17. Metal-core@metal oxide-shell nanomaterials for gas-sensing applications: a review

    Energy Technology Data Exchange (ETDEWEB)

    Mirzaei, A.; Janghorban, K.; Hashemi, B. [Shiraz University, Department of Materials Science and Engineering (Iran, Islamic Republic of); Neri, G., E-mail: gneri@unime.it [University of Messina, Department of Electronic Engineering, Chemistry and Industrial Engineering (Italy)

    2015-09-15

    With an ever-increasing number of applications in many advanced fields, gas sensors are becoming indispensable devices in our daily life. Among different types of gas sensors, conductometric metal oxide semiconductor (MOS) gas sensors are found to be the most appealing for advanced applications in the automotive, biomedical, environmental, and safety sectors because of the their high sensitivity, reduced size, and low cost. To improve their sensing characteristics, new metal oxide-based nanostructures have thus been proposed in recent years as sensing materials. In this review, we extensively review gas-sensing properties of core@ shell nanocomposites in which metals as the core and metal oxides as the shell structure, both of nanometer sizes, are assembled into a single metal@metal oxide core–shell. These nanostructures not only combine the properties of both noble metals and metal oxides, but also bring unique synergetic functions in comparison with single-component materials. Up-dated achievements in the synthesis and characterization of metal@metal oxide core–shell nanostructures as well as their use in MOS sensors are here reported with the main objective of providing an overview about their gas-sensing properties.

  18. Evolution of the global virtual water trade network.

    Science.gov (United States)

    Dalin, Carole; Konar, Megan; Hanasaki, Naota; Rinaldo, Andrea; Rodriguez-Iturbe, Ignacio

    2012-04-17

    Global freshwater resources are under increasing pressure from economic development, population growth, and climate change. The international trade of water-intensive products (e.g., agricultural commodities) or virtual water trade has been suggested as a way to save water globally. We focus on the virtual water trade network associated with international food trade built with annual trade data and annual modeled virtual water content. The evolution of this network from 1986 to 2007 is analyzed and linked to trade policies, socioeconomic circumstances, and agricultural efficiency. We find that the number of trade connections and the volume of water associated with global food trade more than doubled in 22 years. Despite this growth, constant organizational features were observed in the network. However, both regional and national virtual water trade patterns significantly changed. Indeed, Asia increased its virtual water imports by more than 170%, switching from North America to South America as its main partner, whereas North America oriented to a growing intraregional trade. A dramatic rise in China's virtual water imports is associated with its increased soy imports after a domestic policy shift in 2000. Significantly, this shift has led the global soy market to save water on a global scale, but it also relies on expanding soy production in Brazil, which contributes to deforestation in the Amazon. We find that the international food trade has led to enhanced savings in global water resources over time, indicating its growing efficiency in terms of global water use.

  19. Going against the flow: A critical analysis of virtual water trade in the context of India's National River Linking Programme

    NARCIS (Netherlands)

    Verma, Shilp; Kampman, Doeke A.; van der Zaag, Pieter; Hoekstra, Arjen Ysbert

    2008-01-01

    Virtual water trade has been promoted as a tool to address national and regional water scarcity. In the context of international (food) trade, this concept has been applied with a view to optimize the flow of commodities considering the water endowments of nations. The concept states that water-rich

  20. Ferrous and common nonferrous metals industries and associated scrap metals: a review

    International Nuclear Information System (INIS)

    Mautz, E.W.

    1975-11-01

    Literature on the common metals industries, scrap metal relationships, and transportation aspects has been reviewed as background information in a study to determine the feasibility of a portable melting facility for radioactively contaminated metals. This report draws substantially on government-sponsored studies. Aluminum, copper, iron and steel, and nickel metal industries are discussed from the viewpoints of the general industry characteristics, primary metal production processes, and secondary metal processing aspects. 46 references, 10 tables

  1. Macroeconomic context of the trade branch development and position in Czech Republic

    Directory of Open Access Journals (Sweden)

    Marek Záboj

    2006-01-01

    Full Text Available The paper deals with analysis of the macroeconomic associations of trade development and its position in Czech Republic as one of the national economy branch. The development of main macroeconomic indicators for period of 1998–2004 is completed and then it follows up with progress of the trade structures and trade chains. In that frame the given indicators (number of registered and active business units in trade, turnover and number of employees are monitoring according to Economic Subjects Register (provided by Czech Statistical Office and Classification of Economic Activities in the European Union. On the basis of research of consulting and research institutions the overview and turnover comparison for TOP 10 trade firms for period of 2000–2004 is carried out. Inseparable part of the paper is analysis of the Czech Republic foreign trade results. In this field the export, import and trade balance are discussing on the one hand in general and on the other hand in territorial and commodity structures.

  2. Clean air, clear market. Making emissions trading work: The role of a computer-assisted auction

    International Nuclear Information System (INIS)

    Bartels, C.W.; Marron, D.B.; Lipsky, M.I.

    1993-01-01

    Creating a new commodity presents the chance to develop new markets in which to trade it. In many cases, existing markets can be adapted easily; in other cases it proves worthwhile to develop new forms that reflect special characteristics of the commodity and those who trade it. In the case of the sulfur dioxide (SO 2 ) emission allowances created by the Clean Air Act Amendments of 1990, a number of standard market forms already have been adopted. While these will prove useful for handling some transactions, a new Market Clearing Auction (MCA) offers buyers and sellers a centralized marketplace for trading SO 2 emission allowances. The MCA, which was developed by the brokerage firm Cantor Fitzgerald, is a computer-assisted open-quotes smartclose quotes auction designed to replicate the outcome of an efficient market in emission allowances, and accepts bids and offers for any possible combination of allowances. Orders can be submitted for streams of allowances. Orders can be submitted for streams of allowances covering more than one year. The auction then determines the combination of bids and offers that maximizes the gains from trades in the market, and establishes uniform market clearing prices for each allowance issue (1995, 1996, and so on). Once executed, trades are settled on a cash-forward basis; that is, allowances are delivered and payments are made at future dates

  3. 76 FR 12938 - Magnesium Metal From the Russian Federation: Extension of Time Limit for Preliminary Results of...

    Science.gov (United States)

    2011-03-09

    ... DEPARTMENT OF COMMERCE International Trade Administration [A-821-819] Magnesium Metal From the... antidumping duty order on magnesium metal from the Russian Federation for the period April 1, 2009, through... of the administrative review of the antidumping duty order on magnesium metal from the Russian...

  4. Dynamic Volatility Arbitrage: The advents of long/short trading strategies with dynamic participation

    DEFF Research Database (Denmark)

    Dorn, Jochen

    on Forex, interest rates and commodities. If an investor positions himself on the (volatility) market within a long/short trading framework, he typically bets on a traditional mispricing arbitrage. However as this corresponds to a call spread with equal exercise prices, this strategy alone would...

  5. Disaggregated Futures-Only Commitments of Traders

    Data.gov (United States)

    Commodity Futures Trading Commission — The Disaggregated Futures-Only Commitments of Traders dataset provides a breakdown of each week's open interest for agriculture, energy, metals, lumber, and...

  6. 26 CFR 1.897-7T - Treatment of certain partnership interests as entirely U.S. real property interests under...

    Science.gov (United States)

    2010-04-01

    ... deposit, money market accounts, commercial paper, U.S. and foreign treasury obligations and bonds, corporate obligations and bonds, precious metals or commodities, and publicly traded instruments. (b...

  7. Influence of Foreign Direct Investments on Commodity Exchange of the Republic of Croatia

    Directory of Open Access Journals (Sweden)

    Goran Marijanović

    2009-12-01

    Full Text Available Almost all countries of the world try to ensure accelerated development of their economies with the help of foreign direct investments. Since the foreign direct investments, in addition to capital, potentially ensure the transfer of contemporary technology, management and marketing knowledge and skills respectively, they can be a signifcant growth factor of competitive abilities of national economies and involvement of countries into international exchange. Trough the RCA method and “Trade Overlap” index, this paper analyzes the infuence of foreign direct investments on the comparative advantages and specialization degree in international commodity exchange for the selected group of transition countries and the Republic of Croatia. The paper tries to determine how much the foreign direct investments have infuenced the structure change of the foreign trade exchange and whether they have contributed to export growth of more complex groups of products in the observed period.

  8. Towards a Gendered Agro-Commodity Approach

    Directory of Open Access Journals (Sweden)

    Primrose Nakazibwe

    2015-08-01

    Full Text Available Commodity or value chains are the dominant means to channel agro-food products from cultivators to consumers. Direct open markets are either non-existent or insignificant . These chains are also the main mechanisms for integrating underprivileged groups into the world economy. Why do global value chains generate sorrow for many and joy for a few, and why are these outcomes heavily gender biased? To look for answers this article critically reviews the post-2000 and earlier gender literature by proponents and opponents of the mainstream value chain approach. The purpose is to provide a methodological contribution on the integration of gender into the commodity chain approach. Most studies have fo cused on the economic effects of chain dynamics on women in agricultural product and labor markets. Some have extended this reasoning with social and cultural effects. Despite these advances, analytical gaps still exist as most existing research has concentrated on the agricultural nodes of modern, high value chains and lacks a gendered conceptual foundation. Scarce attention has been given to traditional staple crops, non-agricultural nodes, and feed back effects of gender relations on the chain. Our results indicate that an appropriate GCC approach should also consider the gendered impacts of the interaction between the governance structure and the institutiona l embeddedness, as well as the consequences of intra-household division of resources and labor in all stages of the chain. These two conceptual complements will be needed to explain the opportunities and constraints to improve gender equity in traditional and modern agro-commodity chains.

  9. S&P500 Forecasting and Trading using Convolution Analysis of Major Asset Classes

    OpenAIRE

    Papaioannou, Panagiotis; Dionysopoulos, Thomas; Janetzko, Dietmar; Siettos, Constantinos

    2016-01-01

    By monitoring the time evolution of the most liquid Futures contracts traded globally as acquired using the Bloomberg API from 03 January 2000 until 15 December 2014 we were able to forecast the S&P 500 index beating the Buy and Hold trading strategy. Our approach is based on convolution computations of 42 of the most liquid Futures contracts of four basic financial asset classes, namely, equities, bonds, commodities and foreign exchange. These key assets were selected on the basis of the glo...

  10. The globalization of international oilseeds trade

    Directory of Open Access Journals (Sweden)

    Mittaine Jean-François

    2012-09-01

    Full Text Available In a globalised world, the trade of goods and services constitute the heart of the economic system. But the trade patterns may show extreme diversity depending upon the nature of the concerned products. The technical and functional constraints do impose their laws, particularly when they relate to biological products/commodities. The term globalization is generally used to describe a complex process of international integration. When referring to oilseeds, the term must also relate to agriculture and human nutritional requirements for a rising human population spread all over the world, particularly in large urban environment. With an annual harvest of about 450 Mn T, oilseeds are naturally “globalized” in their production patterns. The complexity of their production schemes associated with the diversity of their usage on widespread geographical regions gives this group of commodities a unique role on the world markets. This process of opened trade channels has enabled the sector to meet the supply requirements of a quickly rising demand coming from both the population and all the industrial usages including alternative “green” energy. However, for the time being, demand growth has not been fully counter-balanced by production growth. As a consequence, unless some strict reallocation of acreage is effectively organized or new high yielding technologies are developed, it is a fact that vegetable oil will keep a strong demand base for a long time, compounded by the mechanical demand from economic growth in highly populated emerging economies. The balancing of supply and demand is expected to remain a tight exercise every year. At the end of the day, the future of the entire industry largely lies in technology because the final stake is to ensure the proper feeding of a 9 billion people population in a not too far future.

  11. Disaggregated Futures and Options Commitments of Traders

    Data.gov (United States)

    Commodity Futures Trading Commission — The Disaggregated Futures and Options Commitments of Traders dataset provides a breakdown of each week's open interest for agriculture, energy, metals, lumber, and...

  12. A review of metal release in the food industry

    DEFF Research Database (Denmark)

    Jellesen, Morten Stendahl; Rasmussen, Anette Alsted; Hilbert, Lisbeth Rischel

    2006-01-01

    processes, storing equipment as well as cleaning and sanitising procedures are reviewed. Stainless steel is the most widely used metallic material in the food industry; however other metals and their alloys are also briefly treated. The review deals with phenomena mainly relating to electrochemical......The objective of this review is to outline literature on metal release in the food industry. Key results are reviewed from publications with high scientific level as well as papers with focus on industrial aspects. Examples of food products with a corrosive effect are given, and cases concerning...

  13. Current Perspective in the International Trade of Medicinal Plants Material: An Update.

    Science.gov (United States)

    Vasisht, Karan; Sharma, Neetika; Karan, Maninder

    2016-01-01

    The recent years have seen an increased interest in medicinal plants together with the therapeutic use of phytochemicals. Medicinal plants are utilized by the industry for the production of extracts, phytopharmaceuticals, nutraceuticals and cosmeceuticals and their use is expected to grow faster than the conventional drugs. The enormous demand of medicinal plant material has resulted in huge trade both at domestic and international levels. The trade data of medicinal plant material with commodity code HS 1211 (SITC.4, code 292.4) and their derived/related products which are traded under different commodity codes has been acquired from COMTRADE, Trade Map, country reports, technical documents etc for the period 2001 to 2014. The data was analyzed using statistical tools to draw conclusions. The significant features of the global trade; the leading source, consumer, import and export countries; and the striking trends are presented. The trade of the ten key countries and the selected important items is also discussed in detail. The conservative figure of trade of medicinal plants materials and their derived/related products including extracts, essential oils, phytopharmaceuticals, gums, spices used in medicine, tannins for pharmaceutical use, ingredients for cosmetics etc. as calculated from the global export data for the year 2014 is estimated at USD 33 billion. The average global export in medicinal plants under HS 1211 for the fourteen year period was USD 1.92 billion for 601,357 tons per annum and for the year 2014 it stood at 702,813 tons valued at USD 3.60 billion. For the studied period, an annual average growth rate (AAGR) of 2.4% in volumes and 9.2% in values of export was observed. Nearly 30% of the global trade is made up by top two countries of the import and export. China and India from Asia; Egypt and Morocco from Africa; Poland, Bulgaria and Albania from Europe; Chile and Peru from South America are important supply sources. The USA, Japan and Europe

  14. Future markets and the two dimensions of instability in commodity markets: The oil experience

    International Nuclear Information System (INIS)

    Calabre, S.

    1991-01-01

    Public opinion and the media often suggest that futures markets have made the price of oil more unstable than it otherwise should be. It is argued that short-term price instability, associated with the functioning commodity futures markets, must be distinguished from medium-term instability, associated with the processes that adjust supply and consumption. Futures markets appear to be price destabilizing at times, although they also facilitate the management of trade in oil. In the medium term, however, stability and instability are determined by the mechanisms that adjust production and consumption. 39 refs., 4 figs

  15. Equilibrium models of trade equations : a critical review

    OpenAIRE

    Portugal, Marcelo Savino

    1993-01-01

    Neste artigo, revisa-se a literatura teórica sobre equações de comércio exterior, inclusive o modelo de comércio baseado na teoria da produção. Discute-se vários problemas comumente encontrados em trabalhos empíricos e também a literatura existente sobre equações relativas ao comércio exterior brasileiro. In this paper we review the theoretical literature on trade equation models, including the production theory approach. We discuss several empirical problems commonly found in the applied ...

  16. Multiple commodities in statistical microeconomics: Model and market

    Science.gov (United States)

    Baaquie, Belal E.; Yu, Miao; Du, Xin

    2016-11-01

    A statistical generalization of microeconomics has been made in Baaquie (2013). In Baaquie et al. (2015), the market behavior of single commodities was analyzed and it was shown that market data provides strong support for the statistical microeconomic description of commodity prices. The case of multiple commodities is studied and a parsimonious generalization of the single commodity model is made for the multiple commodities case. Market data shows that the generalization can accurately model the simultaneous correlation functions of up to four commodities. To accurately model five or more commodities, further terms have to be included in the model. This study shows that the statistical microeconomics approach is a comprehensive and complete formulation of microeconomics, and which is independent to the mainstream formulation of microeconomics.

  17. Going against the flow: a critical analysis of inter-state virtual water trade in the context of India's national river linking programme

    NARCIS (Netherlands)

    Verma, Shilp; Kampman, Doeke A.; van der Zaag, Pieter; Hoekstra, Arjen Ysbert

    2009-01-01

    Virtual water trade has been promoted as a tool to address national and regional water scarcity. In the context of international (food) trade, this concept has been applied with a view to optimize the flow of commodities considering the water endowments of nations. The concept states that water rich

  18. 17 CFR 240.3a12-7 - Exemption for certain derivative securities traded otherwise than on a national securities exchange.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Exemption for certain derivative securities traded otherwise than on a national securities exchange. 240.3a12-7 Section 240.3a12-7... Miscellaneous Exemptions § 240.3a12-7 Exemption for certain derivative securities traded otherwise than on a...

  19. 75 FR 38983 - Magnesium Metal From the People's Republic of China and the Russian Federation: Final Results of...

    Science.gov (United States)

    2010-07-07

    ... DEPARTMENT OF COMMERCE International Trade Administration [A-570-896, A-821-819] Magnesium Metal... sunset reviews of the antidumping duty orders on magnesium metal from the People's Republic of China..., as amended (``the Act''). On March 16, 2010, US Magnesium LLS, the petitioner in the magnesium metal...

  20. 7 CFR 1421.110 - Commodity certificate exchanges.

    Science.gov (United States)

    2010-01-01

    ... commodity certificate for the marketing assistance loan collateral. (b) The exchange rate is the lesser of... assistance loan collateral. (3) Immediately exchanging the purchased commodity certificate for the outstanding loan collateral. (e) The authority to make commodity certificates available to the producer will...

  1. Water Footprint and Virtual Water Trade of Brazil

    OpenAIRE

    da Silva, Vicente de Paulo R.; de Oliveira, Sonaly D.; Hoekstra, Arjen Ysbert; Neto, Jose Dantas; Campos, João Hugo B.C.; Braga, Celia C.; Araújo, Lincoln Eloi; Oliveira Aleixo, Danilo; de Brito, Jose Ivaldo B.; de Souza, Marcio Dionisio; de Holanda, Romildo M.

    2016-01-01

    Freshwater scarcity has increased at an alarming rate worldwide; improved water management plays a vital role in increasing food production and security. This study aims to determine the water footprint of Brazil’s national food consumption, the virtual water flows associated with international trade in the main agricultural commodities, as well as water scarcity, water self-sufficiency and water dependency per Brazilian region. While previous country studies on water footprints and virtual w...

  2. ECO2, Emissions Trading Services, development project

    International Nuclear Information System (INIS)

    Ruokonen, A.

    2006-01-01

    Emissions Trading started within EU at the beginning of 2005. It caused substantial changes to the business environment of energy companies and energy intensive industry. The planning of Emissions Trading is a complicated process and companies will need consulting, IT systems and other services. Emissions Trading introduces a new factor of production emission allowances, which are tradable commodities. In future, Emissions Trading emissions, emission allowances and the prices of emission allowances have to be considered during the fuel purchasing and the energy production planning. And the best possible knowledge of the own emissions balance and market situation has a monetary value when trading emission allowances. Allocation of emission allowances has done in each country according to National Allocation Plan (NAP), accepted by EU. Finland itself and thus also the Finnish companies will be net buyers of emission allowances in long run. That means commonly that the Finnish companies have to buy more allowances meaning some extra costs to the companies. That's why it is very important to develop and provide to the companies an innovatory emissions planning, follow-up, management and reporting systems. With good emission balance management the extra costs of Emissions Trading will be as low as possible. In ECO2 project, Empower together with Power-Deriva, developed Expert services, Emissions Balance Management and Reporting services and Risk Management services for Emissions Trading and needed software and tools for these services. (orig.)

  3. 78 FR 11856 - Agency Information Collection Activities Under OMB Review

    Science.gov (United States)

    2013-02-20

    ...,'' that is employed by the ``Securities and Commodity Contracts Intermediation and Brokerage Industry... must be traded on a designated contract market (``DCM'') pursuant to part 33 of the Commission's... definition (for example, if it is an excluded forward contract--see id. at 48227), the commodity options...

  4. 17 CFR 32.3 - Unlawful commodity option transactions.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Unlawful commodity option... REGULATION OF COMMODITY OPTION TRANSACTIONS § 32.3 Unlawful commodity option transactions. (a) On and after... extend credit in lieu thereof) from an option customer as payment of the purchase price in connection...

  5. 17 CFR 31.6 - Registration of leverage commodities.

    Science.gov (United States)

    2010-04-01

    ... taking delivery to buy or sell the leverage commodity; (2) Explain the effect of such changes upon the... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Registration of leverage... LEVERAGE TRANSACTIONS § 31.6 Registration of leverage commodities. (a) Registration of leverage commodities...

  6. The role of the World Organisation for Animal Health (OIE) to facilitate the international trade in animals and animal products.

    Science.gov (United States)

    Brückner, G K

    2009-03-01

    The international trade in animals and animal products has become a sensitive issue for both developed and developing countries by posing an important risk for the international spread of animal and human pathogens whilst at the same time being an essential activity to ensure world-wide food security and food safety. The OIE has since its founding in 1924, applied a democratic and transparent decision-making process to continuously develop and review international standards for animal health and zoonoses to facilitate trade in animals and animal products. The role of the OIE is also mandated by the World Trade Organization (WTO) as international reference point for standards related to animal health. In support of its overall objective of promoting animal health world-wide, the OIE has also launched several other initiatives such as the improvement of the governance of veterinary services within its member countries and territories and to enhance the availability of diagnostic and scientific expertise on a more even global geographical distribution. Several trade facilitating concepts such as country, zonal and compartment freedom from disease as well the trade in disease free commodities has been introduced to enhance the trade in animals and animal products for all its members including those from developing and transitional countries who are still in the process of enhancing to full compliance with international sanitary standards.

  7. Annual energy review 1996

    International Nuclear Information System (INIS)

    1997-07-01

    This report presents historical energy statistics on all major energy activities. The statistics cover consumption, production, trade, stock, and prices, for all major energy commodities including fossil fuels, electricity, and renewable energy sources

  8. Annual energy review 1996

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-07-01

    This report presents historical energy statistics on all major energy activities. The statistics cover consumption, production, trade, stock, and prices, for all major energy commodities including fossil fuels, electricity, and renewable energy sources.

  9. 17 CFR 32.11 - Suspension of commodity option transactions.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Suspension of commodity option... REGULATION OF COMMODITY OPTION TRANSACTIONS § 32.11 Suspension of commodity option transactions. (a... accept money, securities or property in connection with, the purchase or sale of any commodity option, or...

  10. Energy trading

    International Nuclear Information System (INIS)

    Beckmann, K.; Schroeter, S.

    2009-01-01

    Two brief articles and two interviews deal with the subject of energy trading. Power and gas exchanges in Europe multiply, but, experts say, we are nowhere near a mature, integrated European energy market as yet. Trading regulations need to be improved and harmonised and interconnections expanded. European Energy Review assesses the state of energy trading in Europe and interviews the ceo's of NordPool (the Nordic power exchange) and APX (Amsterdam Power Exchange)

  11. A cut above: building the market for fair trade timber

    Energy Technology Data Exchange (ETDEWEB)

    MacQueen, Duncan

    2008-02-15

    Unlike coffee and cotton, timber has yet to become a fair trade commodity. But now its time has come. Rights over forest resources are increasingly ceded to small-scale community forest enterprises (CFEs), as large-scale industrial logging is now largely discredited in the sustainable development context. The fair trade emphasis on just pricing for poorer producers is exactly what CFEs need as incentive to invest in sustainable forest management — and secure environmental and poverty reduction benefits at one stroke. With fair trade timber, CFEs could boost their entrepreneurial capacity using democratic business models with in-built social and environmental responsibility. The Fair Trade Labelling Organizations International and Forest Stewardship Council are exploring the ways and means through a new partnership, but more is needed. Consumers must be made aware of why paying higher prices is key to creating CFE incentives for sustainable forest management and poverty reduction. Time and money are needed for consumer education and installing fair trade timber in producer country forest policies, market segregation and procurement policies at all levels.

  12. 75 FR 11842 - Export Trade Certificate of Review

    Science.gov (United States)

    2010-03-12

    ..., licensing of Technology Rights and provision of Export Trade Facilitation Services, EFS International... already generally available to the trade or public. 2. EFS International will comply with requests made by... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 10-00002] Export Trade...

  13. Irradiation as a phytosanitary treatment of food and agricultural commodities. Proceedings of a final research coordination meeting

    International Nuclear Information System (INIS)

    2004-11-01

    World trade in fresh horticultural produce, durables and ornamentals continues to grow. Accompanying increased trade in agricultural products is the increased risk for inadvertently transporting quarantine pests to countries or regions where they do not occur. Quarantined pests, including insects such as fruit flies, beetles, moths, scales, mealybugs, thrips, and mites, can seriously disrupt marketing of fresh agricultural products not only between countries, but also between geographical areas within countries (e.g. Florida to California; Hawaii to mainland USA; Queensland to Victoria, Australia; Okinawa to Japan) unless accepted postharvest quarantine treatments are available. Quarantine or phytosanitary treatments (such as fumigation, heat, cold or irradiation) disinfest host commodities of insect pests before they are moved through market channels to areas where the pests do not occur. Among the phytosanitary treatments, irradiation is recognized as a versatile treatment with broadspectrum activity against arthropod pests at dose levels that have minimal adverse effects on the quality of most commodities. The Joint FAO/IAEA Division of Nuclear Techniques in Food and Agriculture, initiated in 1998 a Coordinated Research Project (CRP) on Irradiation as a Phytosanitary Treatment of Food and Agricultural Commodities. This CRP included 16 participants from Australia, Brazil, Chile, China (2), India, Islamic Republic of Iran, Japan, Malaysia, Philippines, Poland, Syrian Arab Republic, Thailand, Turkey and the USA (2). Research coordination meetings were held in Bangkok, Thailand, 29 March - 2 April 1999; Fresno, California, 13-16 November 2001; and Vienna, 2-4 November 2002. This CRP built on the achievements of two previous CRPs on Irradiation as a Quarantine Treatment of Fresh Fruits and Vegetables, (1986-1990), and Irradiation as a Quarantine Treatment of Mites, Nematodes and Insects other than Fruit Flies(1992-1997). This publication presents the research results

  14. The Influence Of Highway Transportation Infrastructure Condition Toward Commodity Production Generation for The Resilience Needs at Regional Internal Zone

    Science.gov (United States)

    Akbardin, Juang; Parikesit, Danang; Riyanto, Bambang; Mulyono, Agus Taufik

    2018-02-01

    The poultry commodity consumption and requirement is one of the main commodities that must be fulfilled in a region to maintain the availability of meat from poultry. Poultry commodity production is one of the production sectors that have a clean environment resistance. An increasing of poultry commodity generation production requires a smooth distribution to arrive at the processing. The livestock location as a commodity production is placed at a considerable far distance from residential and market locations. Zones that have poultry commodity production have an excess potential to supply other zones that are lacking in production to the consumption of these commodities. The condition of highway transportation infrastructure that is very diverse with the damage level availability in a zone has an influence in the supply and demand of poultry commodity requirement in the regional internal of Central Java province. In order to know the effect of highway transportation infrastructure condition toward the poultry commodity movement, demography factor and availability of freight vehicles will be reviewed to estimate the amount of poultry commodity movement generation production. Thus the poultry commodity consumption requirement that located in the internal - regional zone of central java province can be adequated from the zone. So it can be minimized the negative impacts that affect the environment at the zone in terms of comparison of the movement attraction and generation production at poultry commodity in Central Java.

  15. Status of electricity trading in the United States

    International Nuclear Information System (INIS)

    McMillan, P.H.

    1999-01-01

    The evolution of the energy marketplace in the United States is presented in a series of overhead viewgraphs. The influencing factors of energy trading are described as being supply concentration, rate cross subsidization, price volatility, physics, stranded investment, market structure and value drivers. A map depicting trading hubs and market structures is included, along with an outline of the key characteristics of a successful market hub. Gas-electric interface issues are also discussed. It was stated that contrary to conventional wisdom that as gas and electricity markets converge, traders will routinely cross-hedge gas and power, the practical reality is that volatility of the gas to electricity basis spread actually limits hedging opportunities. A winning strategy should include thorough fundamental and technical analysis; every trade or position should have a well thought-out exit strategy; get closer to physical assets; and be careful across regional hubs and commodities. 2 tabs., 7 figs

  16. Strategic contracting practices to improve procurement of health commodities.

    Science.gov (United States)

    Arney, Leslie; Yadav, Prashant; Miller, Roger; Wilkerson, Taylor

    2014-08-01

    Public-sector entities responsible for procurement of essential medicines and health commodities in developing countries often lack the technical capacity to efficiently ensure supply security. Under strict public scrutiny and pressures to be transparent, many agencies continue to use archaic procurement methods and to depend on inflexible forecasts and cumbersome tendering processes. On the basis of semi-structured literature reviews and interviews, we identified framework agreements as a strategic procurement practice used by the U.S. federal government that may also be suitable for global health supply chains. Framework agreements are long-term contracts that provide the terms and conditions under which smaller repeat purchasing orders may be issued for a defined period of time. Such agreements are common in U.S. and United Nations procurement systems and in other developed countries and multilateral organizations. In contrast, framework agreements appear to be seldom used in procurement of health commodities in countries of sub-Saharan Africa. The current practice of floating tenders multiple times a year contributes to long lead times and stock-outs, and it hampers the manufacturer's or supplier's ability to plan and respond to the government's needs. To date, government's use of strategic contracting practices in public procurement of health commodities has not received much attention in most developing countries. It may present an opportunity for substantial improvements in procurement efficiency and commodity availability. Enabling legislation and strengthened technical capacity to develop and manage long-term contracts could facilitate the use of framework contracts in sub-Saharan Africa, with improved supply security and cost savings likely to result.

  17. 75 FR 78968 - Magnesium Metal From the Russian Federation: Extension of Time Limit for Preliminary Results of...

    Science.gov (United States)

    2010-12-17

    ... DEPARTMENT OF COMMERCE International Trade Administration [A-821-819] Magnesium Metal From the Russian Federation: Extension of Time Limit for Preliminary Results of Antidumping Duty Administrative... administrative review of the antidumping duty order on magnesium metal from the Russian Federation for the period...

  18. Mineral commodity summaries 2015

    Science.gov (United States)

    ,

    2015-01-01

    Each chapter of the 2015 edition of the U.S. Geological Survey (USGS) Mineral Commodity Summaries (MCS) includes information on events, trends, and issues for each mineral commodity as well as discussions and tabular presentations on domestic industry structure, Government programs, tariffs, 5-year salient statistics, and world production and resources. The MCS is the earliest comprehensive source of 2014 mineral production data for the world. More than 90 individual minerals and materials are covered by two-page synopses.

  19. Reviewing metallic PEMFC bipolar plates

    Energy Technology Data Exchange (ETDEWEB)

    Wang, H.; Turner, J.A. [National Renewable Energy Laboratory, Golden, CO (United States)

    2010-08-15

    A bipolar plate is one of the most important components in a polymer exchange membrane fuel cell (PEMFC) stack and has multiple functions. Metallic bipolar plate candidates have advantages over composite rivals in excellent electrical and thermal conductivity, good mechanical strength, high chemical stability, very wide alloy choices, low cost and, most importantly, existing pathways for high-volume, high-speed mass production. The challenges with metallic bipolar plates are the higher contact resistance and possible corrosion products, which may contaminate the membrane electrode assembly. This review evaluates the candidate metallic and coating materials for bipolar plates and gives the perspective of the research trends. (Abstract Copyright [2010], Wiley Periodicals, Inc.)

  20. An examination of the International Natural Gas Trade

    International Nuclear Information System (INIS)

    Mazighi, A.

    2003-01-01

    Recent developments in the liquefied natural gas (LNG) industry, particularly the ongoing projects of liquefaction and regasification and the increasing number of LNG-carriers to be delivered in forthcoming years, have led some specialists to argue that LNG is today a crossroads between regionalisation and globalisation. Other specialists think that, by LNG's share of the total international trade of natural gas will be predominant, compared to that of pipelines. All these assumptions are based on an examination of the duration and ongoing international gas projects. The objective of our article is to examine the historical patterns of the international natural gas and discuss the conditions for the globalisation of LNG trade. Using some evidence on the international trade of natural gas from 1970 to 1997, we show the A strong correlation exists between the international trade of gas by pipeline and LNG becomes predominant, we need a delinking of these two means of trading gas. Globalisation of the LNG trade is not only linked to an increase in the relative share trade; it is also and primarily linked to an increase in the inter-area trade of LNG. There is a negligible change in the pattern of inter-area and intra-area trade of even during the late 1990s; this is due to the contracted nature of the LNG international that resulted in a stickiness of LNG routes. The emergence of a global LNG market requires the satisfaction of four conditions: economic, technical and institutional conditions - therefore, it will certainly take more years to make ING a global commodity. (author)

  1. 76 FR 61342 - Magnesium Metal from the Russian Federation: Amended Final Results of Antidumping Duty...

    Science.gov (United States)

    2011-10-04

    ... DEPARTMENT OF COMMERCE International Trade Administration [A-821-819] Magnesium Metal from the... administrative review of the antidumping duty order on magnesium metal from the Russian Federation. See Magnesium... pursuant to 19 CFR 351.224(c) from US Magnesium LLC, the petitioner, alleging that we relied on unadjusted...

  2. 49 CFR 1248.1 - Freight commodity statistics.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 9 2010-10-01 2010-10-01 false Freight commodity statistics. 1248.1 Section 1248... STATISTICS § 1248.1 Freight commodity statistics. All class I railroads, as described in § 1240.1 of this... statistics on the basis of the commodity codes named in § 1248.101. Carriers shall report quarterly on the...

  3. Protecting health from metal exposures in drinking water.

    Science.gov (United States)

    Armour, Margaret-Ann

    2016-03-01

    Drinking water is essential to us as human beings. According to the World Health Organization "The quality of drinking-water is a powerful environmental determinant of health" (http://www.who.int/water_sanitation_health/dwq/en/), but clean drinking water is a precious commodity not always readily available. Surface and ground water are the major sources of drinking water. Both can be contaminated, surface water with bacteria while ground water frequently contains salts of metals that occur naturally or are introduced by human activity. This paper will briefly review the metallic salts found in drinking water in areas around the world, as well as list some of the methods used to reduce or remove them. It will then discuss our research on reducing the risk of pollution of drinking water by removal of metal ions from wastewater.

  4. 17 CFR 40.2 - Listing and accepting products for trading or clearing by certification.

    Science.gov (United States)

    2010-04-01

    ... products for trading or clearing by certification. (a) Unless permitted otherwise by § 37.7 of this chapter... certification by the designated contract market or derivatives transaction execution facility that the product... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Listing and accepting products...

  5. Structure and evolution of the global seafood trade network

    Science.gov (United States)

    Gephart, Jessica A.; Pace, Michael L.

    2015-12-01

    The food production system is increasingly global and seafood is among the most highly traded commodities. Global trade can improve food security by providing access to a greater variety of foods, increasing wealth, buffering against local supply shocks, and benefit the environment by increasing overall use efficiency for some resources. However, global trade can also expose countries to external supply shocks and degrade the environment by increasing resource demand and loosening feedbacks between consumers and the impacts of food production. As a result, changes in global food trade can have important implications for both food security and the environmental impacts of production. Measurements of globalization and the environmental impacts of food production require data on both total trade and the origin and destination of traded goods (the network structure). While the global trade network of agricultural and livestock products has previously been studied, seafood products have been excluded. This study describes the structure and evolution of the global seafood trade network, including metrics quantifying the globalization of seafood, shifts in bilateral trade flows, changes in centrality and comparisons of seafood to agricultural and industrial trade networks. From 1994 to 2012 the number of countries trading in the network remained relatively constant, while the number of trade partnerships increased by over 65%. Over this same period, the total quantity of seafood traded increased by 58% and the value increased 85% in real terms. These changes signify the increasing globalization of seafood products. Additionally, the trade patterns in the network indicate: increased influence of Thailand and China, strengthened intraregional trade, and increased exports from South America and Asia. In addition to characterizing these network changes, this study identifies data needs in order to connect seafood trade with environmental impacts and food security outcomes.

  6. 75 FR 13489 - Magnesium Metal from the People's Republic of China: Extension of Time for the Preliminary...

    Science.gov (United States)

    2010-03-22

    ... DEPARTMENT OF COMMERCE International Trade Administration A-570-896 Magnesium Metal from the... order on magnesium metal from the People's Republic of China (``PRC'').\\1\\ Respondent, Tianjin Magnesium International Co., Ltd. (``TMI''), requested a review on April 27, 2009, and Petitioner, US Magnesium LLC (``US...

  7. Current Status of Mycotoxin Contamination of Food Commodities in Zimbabwe

    Directory of Open Access Journals (Sweden)

    Nancy Nleya

    2018-05-01

    Full Text Available Agricultural products, especially cereal grains, serve as staple foods in sub-Saharan Africa. However, climatic conditions in this region can lead to contamination of these commodities by moulds, with subsequent production of mycotoxins posing health risks to both humans and animals. There is limited documentation on the occurrence of mycotoxins in sub-Saharan African countries, leading to the exposure of their populations to a wide variety of mycotoxins through consumption of contaminated foods. This review aims at highlighting the current status of mycotoxin contamination of food products in Zimbabwe and recommended strategies of reducing this problem. Zimbabwe is one of the African countries with very little information with regards to mycotoxin contamination of its food commodities, both on the market and at household levels. Even though evidence of multitoxin occurrence in some food commodities such as maize and other staple foods exist, available published research focuses only on Aspergillus and Fusarium mycotoxins, namely aflatoxins, deoxynivalenol (DON, trichothecenes, fumonisins, and zearalenone (ZEA. Occurrence of mycotoxins in the food chain has been mainly associated with poor agricultural practices. Analysis of mycotoxins has been done mainly using chromatographic and immunological methods. Zimbabwe has adopted European standards, but the legislation is quite flexible, with testing for mycotoxin contamination in food commodities being done voluntarily or upon request. Therefore, the country needs to tighten its legislation as well as adopt stricter standards that will improve the food safety and security of the masses.

  8. Current Status of Mycotoxin Contamination of Food Commodities in Zimbabwe.

    Science.gov (United States)

    Nleya, Nancy; Adetunji, Modupeade Christianah; Mwanza, Mulunda

    2018-05-03

    Agricultural products, especially cereal grains, serve as staple foods in sub-Saharan Africa. However, climatic conditions in this region can lead to contamination of these commodities by moulds, with subsequent production of mycotoxins posing health risks to both humans and animals. There is limited documentation on the occurrence of mycotoxins in sub-Saharan African countries, leading to the exposure of their populations to a wide variety of mycotoxins through consumption of contaminated foods. This review aims at highlighting the current status of mycotoxin contamination of food products in Zimbabwe and recommended strategies of reducing this problem. Zimbabwe is one of the African countries with very little information with regards to mycotoxin contamination of its food commodities, both on the market and at household levels. Even though evidence of multitoxin occurrence in some food commodities such as maize and other staple foods exist, available published research focuses only on Aspergillus and Fusarium mycotoxins, namely aflatoxins, deoxynivalenol (DON), trichothecenes, fumonisins, and zearalenone (ZEA). Occurrence of mycotoxins in the food chain has been mainly associated with poor agricultural practices. Analysis of mycotoxins has been done mainly using chromatographic and immunological methods. Zimbabwe has adopted European standards, but the legislation is quite flexible, with testing for mycotoxin contamination in food commodities being done voluntarily or upon request. Therefore, the country needs to tighten its legislation as well as adopt stricter standards that will improve the food safety and security of the masses.

  9. Ferrous Metal Processing Plants

    Data.gov (United States)

    Department of Homeland Security — This map layer includes ferrous metal processing plants in the United States. The data represent commodities covered by the Minerals Information Team (MIT) of the...

  10. Nonferrous Metal Processing Plants

    Data.gov (United States)

    Department of Homeland Security — This map layer includes nonferrous metal processing plants in the United States. The data represent commodities covered by the Minerals Information Team (MIT) of the...

  11. Urbanization and international trade and investment policies as determinants of noncommunicable diseases in Sub-Saharan Africa.

    Science.gov (United States)

    Schram, Ashley; Labonté, Ronald; Sanders, David

    2013-01-01

    There are three dominant globalization pathways affecting noncommunicable diseases in Sub-Saharan Africa (SSA): urbanization, trade liberalization, and investment liberalization. Urbanization carries potential health benefits due to improved access to an increased variety of food imports, although for the growing number of urban poor, this has often meant increased reliance on cheap, highly processed food commodities. Reduced barriers to trade have eased the importation of such commodities, while investment liberalization has increased corporate consolidation over global and domestic food chains. Higher profit margins on processed foods have promoted the creation of 'obesogenic' environments, which through progressively integrated global food systems have been increasingly 'exported' to developing nations. This article explores globalization processes, the food environment, and dietary health outcomes in SSA through the use of trend analyses and structural equation modelling. The findings are considered in the context of global barriers and facilitators for healthy public policy. © 2013.

  12. Vulnerability to shocks in the global seafood trade network

    Science.gov (United States)

    Gephart, Jessica A.; Rovenskaya, Elena; Dieckmann, Ulf; Pace, Michael L.; Brännström, Åke

    2016-03-01

    Trade can allow countries to overcome local or regional losses (shocks) to their food supply, but reliance on international food trade also exposes countries to risks from external perturbations. Countries that are nutritionally or economically dependent on international trade of a commodity may be adversely affected by such shocks. While exposure to shocks has been studied in financial markets, communication networks, and some infrastructure systems, it has received less attention in food-trade networks. Here, we develop a forward shock-propagation model to quantify how trade flows are redistributed under a range of shock scenarios and assess the food-security outcomes by comparing changes in national fish supplies to indices of each country’s nutritional fish dependency. Shock propagation and distribution among regions are modeled on a network of historical bilateral seafood trade data from UN Comtrade using 205 reporting territories grouped into 18 regions. In our model exposure to shocks increases with total imports and the number of import partners. We find that Central and West Africa are the most vulnerable to shocks, with their vulnerability increasing when a willingness-to-pay proxy is included. These findings suggest that countries can reduce their overall vulnerability to shocks by reducing reliance on imports and diversifying food sources. As international seafood trade grows, identifying these types of potential risks and vulnerabilities is important to build a more resilient food system.

  13. Optimal trade-offs between energy efficiency improvements and additional renewable energy supply: A review of international experiences

    DEFF Research Database (Denmark)

    Baldini, Mattia; Klinge Jacobsen, Henrik

    2016-01-01

    the improvements made in the energy saving field. Indeed, little attention has been paid to implement energy efficiency measures, which has resulted in scenarios where expedients for a wise use of energy (e.g. energy savings and renewables share) are unbalanced. The aim of this paper is to review and evaluate...... international experiences on finding the optimal trade-off between efficiency improvements and additional renewable energy supply. A critical review of each technique, focusing on purposes, methodology and outcomes, is provided along with a review of tools adopted for the analyses. The models are categorized...... trade-off between renewables and energy efficiency measures in energy-systems under different objectives....

  14. 1993 commodity flow survey : state summaries

    Science.gov (United States)

    1997-06-01

    This report summarizes the Commodity Flow Survey (CFS) state reports released between February 1996 and July 1996 by the Bureau of the Census and the 1993 Commodity Flow Survey: Preliminary Observations by the Bureau of Transportation Statistics. Inf...

  15. Energy and carbon embodied in the international trade of Brazil. An input-output approach

    International Nuclear Information System (INIS)

    Machado, G; Schaeffer, R.; Worrell, E.

    2001-01-01

    All goods and services produced in an economy are directly and/or indirectly associated with energy use and, according to the type of fuel utilized, with CO2 emissions as well. International trade is an important factor in shaping the industrial structure of a country and, consequently, in affecting a country's energy use and CO2 emissions. This study applies input-output techniques to the Brazilian economy to evaluate the total impacts of international trade on its energy use and CO2 emissions. A commodity-by-industry IO model in hybrid units (energy commodities in physical units and non-energy commodities in monetary units) is applied to the Brazilian economy in 1995. Results show that total energy embodied in the exports of non-energy goods of Brazil equals 831 PJ, while total carbon embodied is 13.5 MtC. These amounts are larger than the relevant amounts embodied in the imports of non-energy goods, respectively 679 PJ and 9.9 MtC. These figures are better understood by contrasting them with the total energy use and the corresponding total carbon emissions of the Brazilian economy in 1995 estimated by this work: 6781 PJ and 99.4 MtC, respectively. This means that international inflows and outflows of energy embodied in non-energy goods are in the order of 10 and 12% of the total energy use, while inflows and outflows of carbon embodied in non-energy goods are approximately 10 and 14% of the corresponding total carbon emissions of the Brazilian economy in 1995. The general picture is that Brazil is not only a net exporter of energy (153 PJ) and of carbon (3.6 MtC) embodied in the non-energy goods internationally traded by the country in 1995, but also that each dollar earned with exports embodied 40% more energy and 56% more carbon than each dollar spent on imports. These findings suggest that Brazilian policy-makers should be concerned about the extra impacts international trade policy may have on energy use and carbon emissions of the country. 71 refs

  16. The Price of Commodity Risk in Stock and Futures Markets

    NARCIS (Netherlands)

    M. Boons (Martijn); F.A. de Roon (Frans); M.K. Szymanowska (Marta)

    2014-01-01

    textabstractWe find that commodity risk is priced in the cross-section of US stock returns. Following the financialization of commodities, investors hedge commodity price risk directly in the futures market, primarily via commodity index investments, whereas before they gained commodity exposure

  17. Choosing a commode for the ward environment.

    Science.gov (United States)

    Ballinger, C; Pain, H; Pascoe, J; Gore, S

    The choice of appropriate equipment to promote patient independence and enhance nursing care is of major concern to the nurse in the ward environment. This article reports on a recent evaluation of specialist commodes, (Ballinger et al, 1994), with reference to the programme funded by the Medical Devices Agency, Department of Health, under whose auspices the project was carried out. The results of user evaluations and technical tests of six mobile commodes are presented, the preferred model being the Mayfair commode supplied by Carters (J&A) Ltd. The article concludes by identifying a number of important considerations to bear in mind when selecting a commode.

  18. Statistical field theory of futures commodity prices

    Science.gov (United States)

    Baaquie, Belal E.; Yu, Miao

    2018-02-01

    The statistical theory of commodity prices has been formulated by Baaquie (2013). Further empirical studies of single (Baaquie et al., 2015) and multiple commodity prices (Baaquie et al., 2016) have provided strong evidence in support the primary assumptions of the statistical formulation. In this paper, the model for spot prices (Baaquie, 2013) is extended to model futures commodity prices using a statistical field theory of futures commodity prices. The futures prices are modeled as a two dimensional statistical field and a nonlinear Lagrangian is postulated. Empirical studies provide clear evidence in support of the model, with many nontrivial features of the model finding unexpected support from market data.

  19. What's nature got to do with it? A situated historical perspective on socio-natural commodities.

    Science.gov (United States)

    Peluso, Nancy Lee

    2012-01-01

    Nature(s) have been commodified since the early days of capitalism, but through processes and socio-natural relationships mediated by their times, histories and localities. While the conditions under which nature's commodities are being trademarked today may be new, their potential for commodification is not. Commodifications of nature should not come as a surprise to environmental social scientists and activists. In this article, I argue that commodification of ‘nature's products, places and processes’ produces new sorts of socio-natures. Situated histories of rubber are particularly relevant because, like carbon, ecosystem services and other recently commodified natures, rubber sits comfortably on the line between a fictitious commodity and a commodity produced explicitly for market: the latex alone has almost no use value, and to give it any exchange value, it requires processing. Yet analytically, it is still considered a ‘natural commodity’, different from ‘synthetic rubber’ and other tradable tree latexes in qualities and socio-natural characteristics. However, it is the social relations constituting rubber's production and trade in various rainforest and agro-forestry environments that have given it a positive or negative connotation, rather than its natural properties or the ecological contexts within which it has been produced. By situating rubber in three of its globally important temporal and spatial contexts, I show how it has been subjected to fairy-tale-like stories that masked and naturalized its commodity lives of the moment. Understanding how history is told or remains untold is thus an essential part of the politics of knowledge production, but also of human experience and mobilization for change. It should be part of any political ecology analysis.

  20. 75 FR 23704 - Order Finding That the NWP Rockies Financial Basis Contract Traded on the...

    Science.gov (United States)

    2010-05-04

    ... Traded on the IntercontinentalExchange, Inc., Performs a Significant Price Discovery Function AGENCY... (``ECM'') under sections 2(h)(3)-(5) of the Commodity Exchange Act (``CEA'' or the ``Act''), performs a significant price discovery function pursuant to section 2(h)(7) of the CEA. The Commission undertook this...

  1. 75 FR 24648 - Order Finding That the Socal Border Financial Basis Contract Traded on the...

    Science.gov (United States)

    2010-05-05

    ... Traded on the IntercontinentalExchange, Inc., Performs a Significant Price Discovery Function AGENCY...'') under sections 2(h)(3)-(5) of the Commodity Exchange Act (``CEA'' or the ``Act''), performs a significant price discovery function pursuant to section 2(h)(7) of the CEA.\\2\\ The Commission undertook this...

  2. The health impact of trade and investment agreements: a quantitative systematic review and network co-citation analysis.

    Science.gov (United States)

    Barlow, Pepita; McKee, Martin; Basu, Sanjay; Stuckler, David

    2017-03-08

    Regional trade agreements are major international policy instruments that shape macro-economic and political systems. There is widespread debate as to whether and how these agreements pose risks to public health. Here we perform a comprehensive systematic review of quantitative studies of the health impact of trade and investment agreements. We identified studies from searches in PubMed, Web of Science, EMBASE, and Global Health Online. Research articles were eligible for inclusion if they were quantitative studies of the health impacts of trade and investment agreements or policy. We systematically reviewed study findings, evaluated quality using the Quality Assessment Tool from the Effective Public Health Practice Project, and performed network citation analysis to study disciplinary siloes. Seventeen quantitative studies met our inclusion criteria. There was consistent evidence that implementing trade agreements was associated with increased consumption of processed foods and sugar-sweetened beverages. Granting import licenses for patented drugs was associated with increased access to pharmaceuticals. Implementing trade agreements and associated policies was also correlated with higher cardiovascular disease incidence and higher Body Mass Index (BMI), whilst correlations with tobacco consumption, under-five mortality, maternal mortality, and life expectancy were inconclusive. Overall, the quality of studies is weak or moderately weak, and co-citation analysis revealed a relative isolation of public health from economics. We identified limitations in existing studies which preclude definitive conclusions of the health impacts of regional trade and investment agreements. Few address unobserved confounding, and many possible consequences and mechanisms linking trade and investment agreements to health remain poorly understood. Results from our co-citation analysis suggest scope for greater interdisciplinary collaboration. Notwithstanding these limitations, our

  3. Expected commodity returns and pricing models

    International Nuclear Information System (INIS)

    Cortazar, Gonzalo; Kovacevic, Ivo; Schwartz, Eduardo S.

    2015-01-01

    Stochastic models of commodity prices have evolved considerably in terms of their structure and the number and interpretation of the state variables that model the underlying risk. Using multiple factors, different specifications and modern estimation techniques, these models have gained wide acceptance because of their success in accurately fitting the observed commodity futures' term structures and their dynamics. It is not well emphasized however that these models, in addition to providing the risk neutral distribution of future spot prices, also provide their true distribution. While the parameters of the risk neutral distribution are estimated more precisely and are usually statistically significant, some of the parameters of the true distribution are typically measured with large errors and are statistically insignificant. In this paper we argue that to increase the reliability of commodity pricing models, and therefore their use by practitioners, some of their parameters — in particular the risk premium parameters — should be obtained from other sources and we show that this can be done without losing any precision in the pricing of futures contracts. We show how the risk premium parameters can be obtained from estimations of expected futures returns and provide alternative procedures for estimating these expected futures returns. - Highlights: • Simple methodology to improve the performance of commodity pricing models • New information about commodity futures expected return is added to the estimation. • No significant effect in pricing futures contracts is observed. • More reliable commodity pricing model's expected returns are obtained. • Methodology is open to any expected futures return model preferred by practitioner

  4. COMMODITY MARKET REGULATION: EXPORTING COUNTRIES VERSUS IMPORTING COUNTRIES

    OpenAIRE

    Souza, Leonardo Silveira

    2012-01-01

    The high in commodity prices in the international market in the last decade, tensions escalated between exporting and importing commodities countries, the extent of having their demands and pressures discussed in the main international organizations, especially in the G20. As altas nas cotações das commodities no mercado internacional na última década acirraram as tensões entre países exportadores e importadores de commodities, a ponto de terem suas reivindicações e pressões debatidas no...

  5. 75 FR 11118 - Export Trade Certificate of Review

    Science.gov (United States)

    2010-03-10

    ... Trading Company Affairs unit, Office of Competition and Economic Analysis, International Trade..., Director, Office of Competition and Economic Analysis, International Trade Administration, (202) 482-5131...: March 4, 2010. Joseph E. Flynn, Director, Office of Competition and Economic Analysis. [FR Doc. 2010...

  6. Dissolution of metallic uranium and its alloys. Part 1. Review of analytical and process-scale metallic uranium dissolution

    International Nuclear Information System (INIS)

    Laue, C.A.; Gates-Anderson, D.; Fitch, T.E.

    2004-01-01

    This review focuses on dissolution/reaction systems capable of treating uranium metal waste to remove its pyrophoric properties. The primary emphasis is the review of literature describing analytical and production-scale dissolution methods applied to either uranium metal or uranium alloys. A brief summary of uranium's corrosion behavior is included since the corrosion resistance of metals and alloys affects their dissolution behavior. Based on this review, dissolution systems were recommended for subsequent screening studies designed to identify the best system to treat depleted uranium metal wastes at Lawrence Livermore National Laboratory (LLNL). (author)

  7. 75 FR 65449 - Export Trade Certificate of Review

    Science.gov (United States)

    2010-10-25

    ... of Competition and Economic Analysis, International Trade Administration, by telephone at (202) 482... CFR part 325 (2010). The Office of Competition and Economic Analysis (``OCEA'') is issuing this notice... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 94-4A007] Export Trade...

  8. Environment, Trade, and Investment

    Science.gov (United States)

    Environment, trade, and investment are fundamentally linked as the environment provides many basic inputs of economic activity – forests, fisheries, metals, minerals – as well as the energy used to process those materials.

  9. Use of containers to carry bulk and break bulk commodities and its impact on gulf region ports and international trade.

    Science.gov (United States)

    2014-08-01

    The University of New Orleans Transportation Institute was tasked by the Louisiana Transportation Research Center (LTRC) in mid-2012 to assess the use of containers to transport bulk and break bulk commodities and to determine what their impact would...

  10. Factor Structure in Commodity Futures Return and Volatility

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Lunde, Asger; Olesen, Kasper Vinther

    -2010 but have since returned to the pre-crisis level close to zero. The common factor in commodity volatility is nevertheless clearly related to stock market volatility. We conclude that, while commodity markets appear to again be segmented from the equity market when only returns are considered, commodity...

  11. Commodity Price Fluctuations: A Century of Analysis

    OpenAIRE

    Walter Labys

    2005-01-01

    Commodity prices again! The twentieth century has only been the latest spectator to the impacts and importance of commodity price fluctuations. It is reasonably well known that commodity price records have come down to us from the ancient civilizations of India, Mesopotamia, Egypt, Greece and Rome. Earlier in the century, formal research began on the relationships between agricultural demand, supply and prices in a market context. This research not only evolved in sophistication but extended ...

  12. The stochastic seasonal behavior of energy commodity convenience yields

    International Nuclear Information System (INIS)

    Mirantes, Andrés García; Población, Javier; Serna, Gregorio

    2013-01-01

    This paper contributes to the commodity pricing literature by consistently modeling the convenience yield with its empirically observed properties. Specifically, in this paper, we show how a four-factor model for the stochastic behavior of commodity prices, with two long- and short-term factors and two additional seasonal factors, may accommodate some of the most important empirically observed characteristics of commodity convenience yields, such as the mean reversion and stochastic seasonality. Based on this evidence, a theoretical model is presented and estimated to characterize the commodity convenience yield dynamics that are consistent with previous findings. We also show that commodity price seasonality is better estimated through convenience yields than through futures prices. - Highlights: • Energy commodity convenience yields exhibit mean reversion and stochastic seasonality. • We present a model for convenience yields accounting for their observed characteristics. • Commodity price seasonality is better estimated through convenience yields

  13. Resource nationalism in Indonesia—Effects of the 2014 mineral export ban

    Science.gov (United States)

    Lederer, Graham W.

    2016-09-27

    Resource nationalism encompasses a broad range of political and economic actions taken by Governments to regulate the extraction of natural resources within their borders. Policies such as increased tariffs or export restrictions can have far-reaching economic effects on international trade. As the Governments of several developing countries consider enacting nationalistic policies, an examination of the 2014 mineral export ban in Indonesia provides an instructive example of the possible impacts of resource nationalism. Significant changes in the production and trade of unprocessed (that is, ores and concentrates) and processed (that is, refined metal) aluminum, copper, and nickel before and after the export ban form the basis of this study.The U.S. Geological Survey (USGS) National Minerals Information Center (NMIC) tracks production and trade of mineral commodities between producer and consumer countries. Materials flow studies clarify the effects of an export ban on different mineral commodities by assessing changes in production, processing capacity, and trade. Using extensive data collection and monitoring procedures, the USGS NMIC investigated the effects of resource nationalism on the flow of mineral commodities from Indonesia to the global economy.

  14. How Macroecomic Factors Influence the Commodity Market in the Financialization Period: The Case of S & P GSCI Commodity Index

    Directory of Open Access Journals (Sweden)

    Kamil Smolík

    2014-01-01

    Full Text Available In connection to the process of financialization of commodity markets which is caused by the sharp increase of money flowing into the commodity markets, the question of which factors affect commodity and commodity indices prices is discussed. In this article, the importance of chosen macroeconomic determinants to the price variability of one of the most important commodity indexes S & P GSCI by using the Boosted Trees method is quantified. The results obtained in the research show that changes in the monthly values of macroeconomic determinants reflect and can, according to the model used, explain the volatility of the monthly average index S & P GSCI Total Return to more than 75%. The most important macroeconomic determinants proved to be Nominal Effective Exchange Rate of USD or US – Short-term interest rates.

  15. Reducing energy consumption and CO2 emissions by energy efficiency measures and international trading: A bottom-up modeling for the U.S. iron and steel sector

    International Nuclear Information System (INIS)

    Karali, Nihan; Xu, Tengfang; Sathaye, Jayant

    2014-01-01

    Highlights: • Use ISEEM to evaluate energy and emission reduction in U.S. Iron and Steel sector. • ISEEM is a new bottom-up optimization model for industry sector energy planning. • Energy and emission reduction includes efficiency measure and international trading. • International trading includes commodity and carbon among U.S., China and India. • Project annual energy use, CO 2 emissions, production, and costs from 2010 to 2050. - Abstract: Using the ISEEM modeling framework, we analyzed the roles of energy efficiency measures, steel commodity and international carbon trading in achieving specific CO 2 emission reduction targets in the U.S iron and steel sector from 2010 to 2050. We modeled how steel demand is balanced under three alternative emission reduction scenarios designed to include national energy efficiency measures, commodity trading, and international carbon trading as key instruments to meet a particular emission restriction target in the U.S. iron and steel sector; and how production, process structure, energy supply, and system costs change with those scenarios. The results advance our understanding of long-term impacts of different energy policy options designed to reduce energy consumption and CO 2 emissions for U.S. iron and steel sector, and generate insight of policy implications for the sector’s environmentally and economically sustainable development. The alternative scenarios associated with 20% emission-reduction target are projected to result in approximately 11–19% annual energy reduction in the medium term (i.e., 2030) and 9–20% annual energy reduction in the long term (i.e., 2050) compared to the Base scenario

  16. Implementation of International Standards in Russia's Foreign Trade Statistics

    Directory of Open Access Journals (Sweden)

    Natalia E. Grigoruk

    2015-01-01

    Full Text Available The article analyzes the basic documents of international organizations in recent years, which have become the global standard for the development and improvement of statistics of foreign economic relations of most countries, including the Russian Federation. The article describes the key features of the theory and practice of modern foreign trade statistics in Russia and abroad, with an emphasis on the methodological problems of its main parts - the external trade statistics. It shows their interpretation in the most recent recommendations by UN statistical apparatus and other international organizations; considers a range of problems associated with the implementation of the national statistical practices of countries, including Russia and the countries of the Customs Union, the main international standard of foreign trade statistics - UN document "International Merchandise Trade Statistics". The main attention is paid to methodological issues such as: the criteria for selecting the objects of statistical accounting in accordance with international standards, quantitative and cost parameters of foreign trade statistics, statistical methods and estimates of commodity exports and imports, the problems of comparability of data; to a comparison of international standards in 2010 with documents on key precursor methodology of foreign trade statistics, characterized by the practice of introducing these standards in the foreign trade statistics of Russia and the countries of the Customs Union. The article analyzes the content given in the official statistical manuals of Russia foreign trade and foreign countries, covers the main methodological problems of World Trade in conjunction with the major current international statistical standards - System of National Accounts, Manual on Statistics of International Trade in Services and other documents; provides specific data describing the current structure of Russian foreign trade and especially its

  17. 22 CFR 201.63 - Maximum prices for commodities.

    Science.gov (United States)

    2010-04-01

    ... actually incurred in moving the commodities supplied from the point of purchase to a position alongside or... between those points. (g) Commodity price subject to escalation. If a purchase contract contains a price.... prevailing market price—U.S. source. The purchase price for a commodity, the source of which is the United...

  18. Biofuel and Food-Commodity Prices

    Directory of Open Access Journals (Sweden)

    David Zilberman

    2012-09-01

    Full Text Available The paper summarizes key findings of alternative lines of research on the relationship between food and fuel markets, and identifies gaps between two bodies of literature: one that investigates the relationship between food and fuel prices, and another that investigates the impact of the introduction of biofuels on commodity-food prices. The former body of literature suggests that biofuel prices do not affect food-commodity prices, but the latter suggests it does. We try to explain this gap, and then show that although biofuel was an important contributor to the recent food-price inflation of 2001–2008, its effect on food-commodity prices declined after the recession of 2008/09. We also show that the introduction of cross-price elasticity is important when explaining soybean price, but less so when explaining corn prices.

  19. Metal losses in pyrometallurgical operations - A review.

    Science.gov (United States)

    Bellemans, Inge; De Wilde, Evelien; Moelans, Nele; Verbeken, Kim

    2018-05-01

    Nowadays, a higher demand on a lot of metals exists, but the quantity and purity of the ores decreases. The amount of scrap, on the other hand, increases and thus, recycling becomes more important. Besides recycling, it is also necessary to improve and optimize existing processes in extractive and recycling metallurgy. One of the main difficulties of the overall-plant recovery are metal losses in slags, in both primary and secondary metal production. In general, an increased understanding of the fundamental mechanisms governing these losses could help further improve production efficiencies. This review aims to summarize and evaluate the current scientific knowledge concerning metal losses and pinpoints the knowledge gaps. First, the industrial importance and impact of metal losses in slags will be illustrated by several examples from both ferrous and non-ferrous industries. Throughout the remainder of this review, the main focus will be put on the particular issues in copper industry. In a second section, the different types of metal losses in slags will be discussed. Generally, metal losses in slags can be subdivided into two types: chemical losses and physical losses. The fundamental insights concerning the responsible mechanisms will be discussed for each type. Subsequently, an overview of the most frequently used techniques for research investigations of the losses will be given. In a fourth section, a more detailed overview will be given on the post-processing treatment of metal-containing slags, i.e. performing slag cleaning operations. The most frequently applied methods will be discussed. Copyright © 2017 Elsevier B.V. All rights reserved.

  20. Value-at-risk estimations of energy commodities via long-memory, asymmetry and fat-tailed GARCH models

    International Nuclear Information System (INIS)

    Aloui, Chaker; Mabrouk, Samir

    2010-01-01

    In this paper, we evaluate the value-at-risk (VaR) and the expected shortfalls for some major crude oil and gas commodities for both short and long trading positions. Classical VaR estimations as well as RiskMetrics and other extensions to cases considering for long-range memory, asymmetry and fat-tail in energy markets volatility were conducted. We computed the VaR for three ARCH/GARCH-type models including FIGARCH, FIAPARCH and HYGARCH. These models were estimated in the presence of three alternative innovation's distributions: normal, Student and skewed Student. Our results show that considering for long-range memory, fat-tails and asymmetry performs better in predicting a one-day-ahead VaR for both short and long trading positions. Moreover, the FIAPARCH model outperforms the other models in the VaR's prediction. These results present several potential implications for energy markets risk quantifications and hedging strategies. (author)

  1. 15 CFR 740.18 - Agricultural commodities (AGR).

    Science.gov (United States)

    2010-01-01

    ... commodity meets the definition of “agricultural commodities” in part 772 of the EAR; (2) The commodity is... international terrorism or the transaction raises nonproliferation concerns, you may not use License Exception...

  2. The impact of policies regulating alcohol trading hours and days on specific alcohol-related harms: a systematic review.

    Science.gov (United States)

    Sanchez-Ramirez, Diana C; Voaklander, Donald

    2018-02-01

    Evidence supports the expectation that changes in time of alcohol sales associate with changes in alcohol-related harm in both directions. However, to the best of our knowledge, no comprehensive systematic reviews had examined the effect of policies restricting time of alcohol trading on specific alcohol-related harms. To compile existing evidence related to the impact of policies regulating alcohol trading hours/days of on specific harm outcomes such as: assault/violence, motor vehicle crashes/fatalities, injury, visits to the emergency department/hospital, murder/homicides and crime. Systematic review of literature studying the impact of policies regulation alcohol trading times in alcohol-related harm, published between January 2000 and October 2016 in English language. Results support the premise that policies regulating times of alcohol trading and consumption can contribute to reduce injuries, alcohol-related hospitalisations/emergency department visits, homicides and crime. Although the impact of alcohol trading policies in assault/violence and motor vehicle crashes/fatalities is also positive, these associations seem to be more complex and require further study. Evidence suggests a potential direct effect of policies that regulate alcohol trading times in the prevention of injuries, alcohol-related hospitalisations, homicides and crime. The impact of these alcohol trading policies in assault/violence and motor vehicle crashes/fatalities is less compelling. © Article author(s) (or their employer(s) unless otherwise stated in the text of the article) 2018. All rights reserved. No commercial use is permitted unless otherwise expressly granted.

  3. 75 FR 38487 - Order Finding That the Fuel Oil-180 Singapore Swap Contract Traded on the...

    Science.gov (United States)

    2010-07-02

    ... Traded on the IntercontinentalExchange, Inc., Does Not Perform a Significant Price Discovery Function... (``ECM'') under sections 2(h)(3)-(5) of the Commodity Exchange Act (``CEA'' or the ``Act''), performs a significant price discovery function pursuant to section 2(h)(7) of the CEA. The Commission undertook this...

  4. Foreign direct investment and trade in health services: a review of the literature.

    Science.gov (United States)

    Smith, Richard D

    2004-12-01

    Globalization is a key challenge facing health policy-makers. A significant aspect of this is direct trade in health services, a result of the rise of transnational corporations, challenges in health care financing, porous borders and improved technology creating the scope for increased 'foreign direct investment' (FDI) in health care. This has gathered momentum with the General Agreement on Trade in Services (GATS), which aims to further liberalize trade in services, and within which FDI has been noted as perhaps the most critical area for trade negotiation. Given the rapid development of this area, there are little empirical data. This paper therefore seeks to provide the first comprehensive and systematic review of evidence concerning FDI and health services. This process included electronic bibliographic database searches, website searches and correspondence with experts in the area of trade in health services, from which 76 papers, books and reports were reviewed. Perhaps due to the rapid developments in this area, most of the literature is speculative, polarized between those arguing for the benefits of liberalization and those arguing against. However, there seem to be three issues which emerge as of most importance: (i) the extent to which a national health system is commercialized per se is of more significance than whether investment in it is foreign or domestic; (ii) the national regulatory environment and its 'strength' will significantly determine the economic and health impact of FDI, the effectiveness of safeguard measures, and the stability of GATS commitments; and (iii) any negotiations will depend upon parties having a common understanding of what is being negotiated, and the interpretation of key definitions is thus critical. Each of these issues is explored in some depth, with the overall conclusion that countries should take a step back and first think through the risks and benefits of commercialization of their health sector, rather than being

  5. Rapid screening of aquatic toxicity of several metal-based nanoparticles using the MetPLATE Trade-Mark-Sign bioassay

    Energy Technology Data Exchange (ETDEWEB)

    Pokhrel, Lok R.; Silva, Thilini [Department of Environmental Health, College of Public Health, East Tennessee State University, Johnson City, TN 37614 (United States); Dubey, Brajesh, E-mail: bdubey@uoguelph.ca [Environmental Engineering, School of Engineering, University of Guelph, 50 Stone Road East, Guelph, Ontario (Canada); El Badawy, Amro M. [Department of Civil and Environmental Engineering, University of Cincinnati, Cincinnati, OH (United States); Tolaymat, Thabet M. [USEPA, Office of Research and Development, National Risk Management Laboratory, 26 West Martin Luther King Drive, Cincinnati, OH 45224 (United States); Scheuerman, Phillip R. [Department of Environmental Health, College of Public Health, East Tennessee State University, Johnson City, TN 37614 (United States)

    2012-06-01

    Current understanding of potential toxicity of engineered nanomaterials to aquatic microorganisms is limited for risk assessment and management. Here we evaluate if the MetPLATE Trade-Mark-Sign test can be used as an effective and rapid screening tool to test for potential aquatic toxicity of various metal-based nanoparticles (NPs). The MetPLATE bioassay is a heavy metal sensitive test based on {beta}-galactosidase activity in Escherichia coli. Five different types of metal-based NPs were screened for toxicity: (1) citrate coated nAg (Citrate-nanosilver), (2) polyvinylpyrrolidone coated nAg (PVP-nAg), (3) uncoated nZnO, (4) uncoated nTiO{sub 2} and (5) 1-Octadecylamine coated CdSe Quantum Dots (CdSe QDs); and compared with their corresponding ionic salt toxicity. Citrate-nAg was further fractionated into clean Citrate-nAg, unclean Citrate-nAg and permeate using a tangential flow filtration (TFF) system to eliminate residual ions and impurities from the stock Citrate-nAg suspension and also to differentiate between ionic- versus nano-specific toxicity. Our results showed that nAg, nZnO and CdSe QDs were less toxic than their corresponding ionic salts tested, while nano- or ionic form of TiO{sub 2} was not toxic as high as 2.5 g L{sup -1} to the MetPLATE Trade-Mark-Sign bacteria. Although coating-dependent toxicity was noticeable between two types of Ag NPs evaluated, particle size and surface charge were not adequate to explain the observed toxicity; hence, the toxicity appeared to be material-specific. Overall, the toxicity followed the trend: CdCl{sub 2} > AgNO{sub 3} > PVP-nAg > unclean Citrate-nAg > clean Citrate-nAg > ZnSO{sub 4} > nZnO > CdSe QDs > nTiO{sub 2}/TiO{sub 2}. These results indicate that an evaluation of {beta}-galactosidase inhibition in MetPLATE Trade-Mark-Sign E. coli can be an important consideration for rapid screening of metal-based NP toxicity, and should facilitate ecological risk assessment of these emerging contaminants. - Highlights

  6. Managing commodity markets: the case of OPEC

    International Nuclear Information System (INIS)

    Salman, R.; Ferroukhi, R.

    1993-01-01

    Since primary commodity producers first took control of their natural resources, they have attempted to utilize production/price management with varying degrees of success. As a tool aimed at regulating, rather than controlling, commodity markets, this type of resource management is an essential means of achieving realistic economic returns, which, in the long run, serves the interests of the producer of the commodity in question, as well as its consumer. By regulating commodity markets in times of stable prices producing countries would benefit from a steady and constant level of export earnings, thus allowing them to achieve a sustainable level of economic development. As far as the oil market is concerned, stable prices, set in a range favourable to both producers and consumers, would give investors the confidence needed for long-term exploration. This is particularly important for a commodity such as oil, at a time when the lead time between exploration starting and actual production getting under way is increasing. Not only would producers benefit from stable export earnings, which are an essential requirement for the planning of their development process, but consuming countries would at the same time benefit in two ways: first, they would gain security of supply; and second, as fluctuations in their expenditure for this commodity are reduced, they would be a position to manage their economies more efficiently. (author)

  7. Portfolio Diversification with Commodities in Times of Financialization

    Directory of Open Access Journals (Sweden)

    Adam Zaremba

    2015-03-01

    Full Text Available The study concentrates on the benefits of passive commodity investments in the context of the phenomenon of financialization. The research investigates the implications of increase in the correlation coefficients between equity and commodity investments for investors in financial markets. The paper is composed of several parts. First, the attributes of commodity investments and their benefits in the portfolio optimization are explored. Second, the phenomenon of the financialization is described and the research hypothesis is developed. Next, an empirical analysis is performed. I simulate the mean-variance spanning tests to examine the benefits of commodity investments before and after accounting for the impact of financialization. I proceed separate analysis for pre- and post-financialization period. The empirical research is based on asset classes’ returns and other related variables from years 1991-2012. The performed investigations indicate that the market financialization may have significant implications for commodity investors. Due to increase in correlation coefficients, the inclusion of the commodity futures in the traditional stock-bond portfolio appears to be no longer reasonable.

  8. 75 FR 50992 - Magnesium Metal from the People's Republic of China: Extension of Time for the Final Results of...

    Science.gov (United States)

    2010-08-18

    ... DEPARTMENT OF COMMERCE International Trade Administration [A-570-896] Magnesium Metal from the People's Republic of China: Extension of Time for the Final Results of the Antidumping Duty... administrative review for the period April 1, 2008, to March 31, 2009. See Magnesium Metal from the People's...

  9. Propagation of crises in the virtual water trade network

    Science.gov (United States)

    Tamea, Stefania; Laio, Francesco; Ridolfi, Luca

    2015-04-01

    The international trade of agricultural goods is associated to the displacement of the water used to produce such goods and embedded in trade as a factor of production. Water virtually exchanged from producing to consuming countries, named virtual water, defines flows across an international network of 'virtual water trade' which enable the assessment of environmental forcings and implications of trade, such as global water savings or country dependencies on foreign water resources. Given the recent expansion of commodity (and virtual water) trade, in both displaced volumes and network structure, concerns have been raised about the exposure to crises of individuals and societies. In fact, if one country had to markedly decrease its export following a socio-economical or environmental crisis, such as a war or a drought, many -if not all- countries would be affected due to a cascade effect within the trade network. The present contribution proposes a mechanistic model describing the propagation of a local crisis into the virtual water trade network, accounting for the network structure and the virtual water balance of all countries. The model, built on data-based assumptions, is tested on the real case study of the Argentinean crisis in 2008-09, when the internal agricultural production (measured as virtual water volume) decreased by 26% and the virtual water export of Argentina dropped accordingly. Crisis propagation and effects on the virtual water trade are correctly captured, showing the way forward to investigations of crises impact and country vulnerability based on the results of the model proposed.

  10. New Trends of E-commerce Development Brought by Chinese International Trade

    Institute of Scientific and Technical Information of China (English)

    Wen Xu

    2015-01-01

    e-commerce as a new trade, in the form of the current globalization of information and economic globalization, is with its strong competitive advantage and vitality, which can quickly spread to all areas of international business, and it changes in the international economic landscape had a profound impact. E-commerce is based on the rapid development of computer technology and the wide application is on the use of the Internet and advanced communications technology. It changes the the past, traditional physical trading and cash transactions, in a virtualization market, merchandise presentation via the web. With the online payment, the use of advanced materials and distribution logistics systems are for tangible and intangible commodities trading of a new trade. This new types of transactions overturn the traditional transaction methods, so that the whole business process, whether it is in the application of domestic and foreign trade, and has achieved the goal of online shopping and trading. E-commerce international trade transaction cost savings improve the efficiency of transactions; it changes in the foreign trade transaction process, the development of third-party trading platform is increasing the competitiveness of enterprises and the creation of employment opportunities in all aspects of a country' s foreign trade and the overall economy have had a significant impact. E-commerce is to establish a new economic and trade order, the already mature in the world trading system and the order is being re-shuffling of the emerging e-commerce trade. China is the world' s top-ranked in the world' s total import and export trade power, is under the wave of e-commerce, the difficulties, we should seize opportunities, and meet challenges.

  11. Organized Retailing of Horticultural Commodities

    OpenAIRE

    Sinha, Piyush Kumar; Thomas, Sujo

    2012-01-01

    Owing to rapid urbanization and changing consumption patterns, more and more retailers are trying to put their best efforts to discover new avenues of success when it comes to the sales of horticultural commodities. There are several Indian companies as well as foreign companies who have been focusing all their energies to succeed in the organized retail sector of Indian horticulture commodities. The Indian retail industry is worth $470 million and organized retail stands at $26 million which...

  12. Influence of rising commodity prices on energy policy

    International Nuclear Information System (INIS)

    Keppo, I.J.

    2009-04-01

    During the past few years we have first witnessed a rapid increase in the prices of commodities and then later, as a consequence of the economic downturn, an even more drastic drop. Simultaneously with the commodity price increase, an increase in the investment costs of power plants was experienced. The rise in material costs was often stated as one of the reasons for this increase. In this study the relationship between commodity costs and energy prices is studied. A bottom-up approach is used for estimating what kind of an impact increased commodity prices alone could be expected to have on the investment costs on the one hand, and how increased energy prices may affect commodity production costs on the other. The results indicate that although the commodity production costs usually have a fairly large energy component, even high increases in commodity prices, and therefore raw material costs of power plant investments, can not explain the recently experienced hikes in power plant investment costs; a doubling of the costs of the main raw material flows could explain an investment cost increase of some 5-10%, depending on the power plant type. This would seem to indicate that other contributing factors, such as bottlenecks in the production of power plant components, may play an important role in the recent investment cost increase

  13. Mineral commodity summaries 2013

    Science.gov (United States)

    ,

    2013-01-01

    Each chapter of the 2013 edition of the U.S. Geological Survey (USGS) Mineral Commodity Summaries (MCS) includes information on events, trends, and issues for each mineral commodity as well as discussions and tabular presentations on domestic industry structure, Government programs, tariffs, 5-year salient statistics, and world production and resources. The MCS is the earliest comprehensive source of 2012 mineral production data for the world. More than 90 individual minerals and materials are covered by two-page synopses. For mineral commodities for which there is a Government stockpile, detailed information concerning the stockpile status is included in the two-page synopsis. Abbreviations and units of measure, and definitions of selected terms used in the report, are in Appendix A and Appendix B, respectively. “Appendix C—Reserves and Resources” includes “Part A—Resource/Reserve Classification for Minerals” and “Part B—Sources of Reserves Data.” A directory of USGS minerals information country specialists and their responsibilities is Appendix D. The USGS continually strives to improve the value of its publications to users. Constructive comments and suggestions by readers of the MCS 2013 are welcomed.

  14. Mineral commodity summaries 2014

    Science.gov (United States)

    ,

    2014-01-01

    Each chapter of the 2014 edition of the U.S. Geological Survey (USGS) Mineral Commodity Summaries (MCS) includes information on events, trends, and issues for each mineral commodity as well as discussions and tabular presentations on domestic industry structure, Government programs, tariffs, 5-year salient statistics, and world production and resources. The MCS is the earliest comprehensive source of 2013 mineral production data for the world. More than 90 individual minerals and materials are covered by two-page synopses. For mineral commodities for which there is a Government stockpile, detailed information concerning the stockpile status is included in the two-page synopsis. Abbreviations and units of measure, and definitions of selected terms used in the report, are in Appendix A and Appendix B, respectively. “Appendix C—Reserves and Resources” includes “Part A—Resource/Reserve Classification for Minerals” and “Part B—Sources of Reserves Data.” A directory of USGS minerals information country specialists and their responsibilities is Appendix D. The USGS continually strives to improve the value of its publications to users. Constructive comments and suggestions by readers of the MCS 2014 are welcomed.

  15. Trade-offs between Energy Efficiency improvements and additional Renewable Energy supply: A review of international experiences

    DEFF Research Database (Denmark)

    Baldini, Mattia; Klinge Jacobsen, Henrik

    improvements made in the energy saving field. Indeed, less attention has been paid to implement energy efficiency measures in energy systems modeling, which has resulted in scenarios where expedients for a wise use of energy (e.g. energy savings and renewables’ share) are unbalanced and cost......-savings opportunities are missed. The aim of this paper is to review and evaluate international experiences on finding the optimal trade-off between efficiency improvements and additional renewable energy supply. A critical review of each technique, focusing on purposes, methodology and outcomes, is provided along......-makers, informations useful for identify a suitable analysis for investigate on the optimal trade-off between renewables and energy efficiency measures in energy-systems under different objectives....

  16. Do earthworms impact metal mobility and availability in soil? - A review

    International Nuclear Information System (INIS)

    Sizmur, Tom; Hodson, Mark E.

    2009-01-01

    The importance of earthworms to ecosystem functioning has led to many studies on the impacts of metals on earthworms. Far less attention has been paid to the impact that earthworms have on soil metals both in terms of metal mobility and availability. In this review we consider which earthworms have been used in such studies, which soil components have been investigated, which types of soil have been used and what measures of mobility and availability applied. We proceed to review proposed reasons for effects: changes in microbial populations, pH, dissolved organic carbon and metal speciation. The balance of evidence suggests that earthworms increase metal mobility and availability but more studies are required to determine the precise mechanism for this. - We review the impact of earthworms on metal mobility and availability and suggest areas for further investigation.

  17. CHIP: Commodity based Hazard Identification Protocol for emerging diseases in plants and animals

    NARCIS (Netherlands)

    Bremmer, J.; Swanenburg, M.; Galen, van M.A.; Hoek, Maarten; Rau, M.L.; Hennen, W.H.G.J.; Benninga, J.; Ge, L.; Breukers, M.L.H.

    2012-01-01

    This project comprised the development of a commodity-based hazard identification protocol for biological hazards in plants and animals as a decision support tree programmed in Excel. The content of the decision tree is based on the results of a systematic review of pest and pathogen

  18. Portfolio Diversification with Commodity Futures: Properties of Levered Futures

    NARCIS (Netherlands)

    Woodard, J.D.; Egelkraut, T.M.; Garcia, P.; Pennings, J.M.E.

    2005-01-01

    Portfolio Diversification with Commodity Futures: Properties of Levered Futures This study extends previous work on the impact of commodity futures on portfolio performance by explicitly incorporating levered futures into the portfolio optimization problem. Using data on nine individual commodity

  19. Development of commodity exchange in Croatia

    OpenAIRE

    Sicel, Mladen

    2009-01-01

    Purpose of this thesis work is to show relevance and necessarity for existing of commodity exchange and it’s influence to the economy of Croatia. Because eastern part of Croatia, region called Slavonia is mostly agricultural oriented, it is of essential relevance to establish and make operate of first commodity exchange in Croatia.

  20. Formation of reserves to cover loss from depreciation of stocks of retail trade enterprises

    Directory of Open Access Journals (Sweden)

    A.S. Krutova

    2017-12-01

    Full Text Available Nowadays, the most significant and widely researched accounting innovation is forming the reserve system of a business unit under conditions of sustainable development. The research proves the necessity of forming the reserves as an element of a business unit protection from the risks to lose economic profits because of assets depreciation. It is proposed when making a decision about the formation of the reserve to protect stocks from depreciation, to take into account the level of essentiality not only the deviation size of actual cost of goods from their market cost, but also the level of essentiality of the deviation of actual commodity turnover from its planned significance. The authors develop the algorithm for the level of essentiality assessment when forming the reserve of depreciation of stocks for trade enterprises, which actualizes two indices, namely, the relative deviations of commodity turnover and the cost of goods and allows to make decision about formation of reserves for decreasing the cost of capital equipment including essentiality. The research determines the main factors of influence on the depreciation of the stocks under conditions of continuity, they are: the change of assessment of stocks because of the events after report date, the methods of determining the risk of stocks, moral depreciation and quality loss. To provide the continual cycle of replenishment of commodity stocks for a trade enterprise the authors develop the diagram of accounting process for the formation and use of the depreciation reserve of stocks.

  1. Oil Spill Related Heavy Metal: A Review

    International Nuclear Information System (INIS)

    Ahmad Dasuki Mustafa; Hafizan Juahir; Kamaruzzaman Yunus; Mohammad Azizi Amran; Che Noraini Che Hasnam; Fazureen Azaman; Ismail Zainal Abidin; Syahril Hirman Azmee; Nur Hishaam Sulaiman

    2015-01-01

    Oil spill occurs every day worldwide and oil contamination is a significant contributor for the higher levels of heavy metals in the environment. This study is purposely to summarize the heavy metals which significant to major oil spill incidents around the world and effects of toxic metals to human health. The study performed a comprehensive review of relevant scientific journal articles and government documents concerning heavy metals contamination and oil spills. Overall, the heavy metals most frequently been detected in oil spill related study where Pb>Ni>V>Zn>Cd and caused many effects to human health especially cancer. In conclusion, the comparison of heavy metal level between the post - spill and baseline levels must be done, and implementation of continuous monitoring of heavy metal. In addition, the result based on the strategies must be transparent to public in order to maintaining human health. (author)

  2. A Historical Review of High Speed Metal Forming

    OpenAIRE

    Zittel, G.

    2010-01-01

    This paper will present a Historical Review of High Speed Metal Forming beginning with the first thought of forming metal by using an electromagnetic impulse to today, whereby High Speed Metal Forming is an accepted production process. Although this paper will briefly cover the basic physics of the process, it will not dwell on it. It will rather show how the industrial acceptance of High Speed Metal Forming is tightly connected to the knowledge acquired from many applications studies. These ...

  3. Reviewing the Tannic Acid Mediated Synthesis of Metal Nanoparticles

    Directory of Open Access Journals (Sweden)

    Tufail Ahmad

    2014-01-01

    Full Text Available Metal nanoparticles harbour numerous exceptional physiochemical properties absolutely different from those of bulk metal as a function of their extremely small size and large superficial area to volume. Naked metal nanoparticles are synthesized by various physical and chemical methods. Chemical methods involving metal salt reduction in solution enjoy an extra edge over other protocols owing to their relative facileness and capability of controlling particle size along with the attribute of surface tailoring. Although chemical methods are the easiest, they are marred by the use of hazardous chemicals such as borohydrides. This has led to inclination of scientific community towards eco-friendly agents for the reduction of metal salts to form nanoparticles. Tannic acid, a plant derived polyphenolic compound, is one such agent which embodies characteristics of being harmless and environmentally friendly combined with being a good reducing and stabilizing agent. In this review, first various methods used to prepare metal nanoparticles are highlighted and further tannic acid mediated synthesis of metal nanoparticles is emphasized. This review brings forth the most recent findings on this issue.

  4. Reviewing the Tannic Acid Mediated Synthesis of Metal Nanoparticles

    International Nuclear Information System (INIS)

    Ahmad, T.

    2014-01-01

    Metal nanoparticles harbour numerous exceptional physiochemical properties absolutely different from those of bulk metal as a function of their extremely small size and large superficial area to volume. Naked metal nanoparticles are synthesized by various physical and chemical methods. Chemical methods involving metal salt reduction in solution enjoy an extra edge over other protocols owing to their relative facileness and capability of controlling particle size along with the attribute of surface tailoring. Although chemical methods are the easiest, they are marred by the use of hazardous chemicals such as borohydrides. This has led to inclination of scientific community towards eco-friendly agents for the reduction of metal salts to form nanoparticles. Tannic acid, a plant derived polyphenolic compound, is one such agent which embodies characteristics of being harmless and environmentally friendly combined with being a good reducing and stabilizing agent. In this review, first various methods used to prepare metal nanoparticles are highlighted and further tannic acid mediated synthesis of metal nanoparticles is emphasized. This review brings forth the most recent findings on this issue.

  5. 77 FR 25678 - International Trade Administration

    Science.gov (United States)

    2012-05-01

    ... DEPARTMENT OF COMMERCE International Trade Administration Antidumping or Countervailing Duty Order..., International Trade Administration, Department of Commerce. Background Every five years, pursuant to section 751...'') and the International Trade Commission automatically initiate and conduct a review to determine...

  6. Agricultural Trade Restrictiveness in the European Union and the United States

    OpenAIRE

    Jean-Christophe Bureau; Luca Salvatici

    2001-01-01

    The paper provides a summary measure of the Uruguay Round tariff reduction commitments in the European Union and the United States, using the Mercantilistic Trade Restrictiveness Index (MTRI) as the tariff aggregator. We compute the index for agricultural commodity aggregates assuming a specific (Constant Elasticity of Substitution) functional form for import demand. The levels of the MTRI under the actual commitments of the Uruguay Round are computed and compared with two hypothetical cases,...

  7. Reserves and Trade Jointly Determine Exposure to Food Supply Shocks

    Science.gov (United States)

    Marchand, Philippe; Carr, Joel A.; Dell'Angelo, Jampel; Fader, Marianela; Gephart, Jessica A.; Kummu, Matti; Magliocca, Nicholas; Porkka, Miina; Puma, Michael J.; Zak, Ratajczak

    2016-01-01

    While a growing proportion of global food consumption is obtained through international trade, there is an ongoing debate on whether this increased reliance on trade benefits or hinders food security, and specifically, the ability of global food systems to absorb shocks due to local or regional losses of production. This paper introduces a model that simulates the short-term response to a food supply shock originating in a single country, which is partly absorbed through decreases in domestic reserves and consumption, and partly transmitted through the adjustment of trade flows. By applying the model to publicly-available data for the cereals commodity group over a 17 year period, we find that differential outcomes of supply shocks simulated through this time period are driven not only by the intensification of trade, but as importantly by changes in the distribution of reserves. Our analysis also identifies countries where trade dependency may accentuate the risk of food shortages from foreign production shocks; such risk could be reduced by increasing domestic reserves or importing food from a diversity of suppliers that possess their own reserves. This simulation-based model provides a framework to study the short-term, nonlinear and out-of-equilibrium response of trade networks to supply shocks, and could be applied to specific scenarios of environmental or economic perturbations.

  8. Virtual water trade of agri-food products: Evidence from italian-chinese relations.

    Science.gov (United States)

    Lamastra, Lucrezia; Miglietta, Pier Paolo; Toma, Pierluigi; De Leo, Federica; Massari, Stefania

    2017-12-01

    At global scale, the majority of world water withdrawal is for the agricultural sector, with differences among countries depending on the relevance of agri-food sector in the economy. Virtual water and water footprint could be useful to express the impact on the water resources of each production process and good with the objective to lead to a sustainable use of water at a global level. International trade could be connected to the virtual water flows, in fact through commodities importation, water poor countries can save their own water resources. The present paper focuses on the bilateral virtual water flows connected to the top ten agri-food products traded between Italy and China. Comparing the virtual water flow related to the top 10 agri-food products, the virtual water flow from Italy to China is bigger than the water flow in the opposite direction. Moreover, the composition of virtual water flows is different; Italy imports significant amounts of grey water from China, depending on the different environmental strategies adopted by the two selected countries. This difference could be also related to the fact that traded commodities are very different; the 91% of virtual water imported by Italy is connected to crops products, while the 95% of virtual water imported by China is related to the animal products. Considering national water saving and global water saving, appears that Italy imports virtual water from China while China exerts pressure on its water resources to supply the exports to Italy. This result at global scale implies a global water loss of 129.29millionm3 because, in general, the agri-food products are traded from the area with lower water productivity to the area with the higher water productivity. Copyright © 2017 Elsevier B.V. All rights reserved.

  9. 17 CFR 240.19c-3 - Governing off-board trading by members of national securities exchanges.

    Science.gov (United States)

    2010-04-01

    ... members of national securities exchanges. 240.19c-3 Section 240.19c-3 Commodity and Securities Exchanges... Members § 240.19c-3 Governing off-board trading by members of national securities exchanges. The rules of each national securities exchange shall provide as follows: (a) No rule, stated policy or practice of...

  10. Islamic electronic trading platform on organized exchange

    Directory of Open Access Journals (Sweden)

    Ahmet Suayb Gundogdu

    2016-12-01

    Full Text Available Today Islamic finance industry is under severe criticism, particularly, concerning liquidity management practices of treasury departments. Since cash lending is not possible under Islamic Shari'ah, Islamic banks tend to use securitized asset related schemes which are by no means neither acceptable under Islamic finance jurisprudence nor compliant with Maqasiq Al-Shari'ah. Maqasid Al-Shariah oversees economic activities which produce wealth and prosperity for all members of society to empower any member with certain level of belongings to bestow freedom while condemning inequality. Under this wider aim of Maqasid Al-Shari'ah, this paper presents alternative state-of-art Shari'ah compliant products, which is used in international trade finance, to be migrated to electronic trading platform under organized exchange in pursuit of replacing controversial liquidity management products. Besides, this paper introduces Islamic Commodity Future Contract, derived from asset backed Murabaha, with physical delivery as an alternative liquidity management tool for Islamic FIs and hedging tool for companies.

  11. A review of EIAs on trade policy in China: Exploring the way for economic policy EIAs

    Energy Technology Data Exchange (ETDEWEB)

    Mao, Xianqiang, E-mail: maoxq@bnu.edu.cn [Center for Global Environmental Policy, School of Environment, Beijing Normal University, Beijing 100875 (China); Song, Peng, E-mail: songpeng_ee@163.com [Center for Global Environmental Policy, School of Environment, Beijing Normal University, Beijing 100875 (China); Kørnøv, Lone, E-mail: lonek@plan.aau.dk [The Danish Centre for Environmental Assessment, Department of Planning, Aalborg University, Skibbrogade 5, B1-04, 9000 Aalborg (Denmark); Corsetti, Gabriel, E-mail: gabriel.corsetti@gmail.com [Center for Global Environmental Policy, School of Environment, Beijing Normal University, Beijing 100875 (China)

    2015-01-15

    During the discussion on the “Environmental Protection Law Amendment (draft)” in 2011, it was decided to drop the proposed clauses related to environmental impact assessments (EIAs) on policy, which means that there remained no provisions for policy EIAs, and China's strategic environmental assessment system stayed limited to the planning level. However, considering that economic policy making is causing significant direct and indirect environmental problems and that almost every aspect of governmental policy has an economic aspect, EIAs on economic policies are of the utmost urgency. The purpose of this study is to review the EIA work that has been carried out on trade policy in China through four case studies, and illustrate how trade policy EIAs can be helpful in achieving better environmental outcomes in the area of trade. Through the trade policy EIA case studies we try to argue for the feasibility of conducting EIAs on economic policies in China. We also discuss the implications of the case studies from the point of view of how to proceed with EIAs on economic policy and how to promote their practice. - Highlights: • SEA system is incomplete and stays limited to the plan EIA level in China. • EIA on economic policy is of utmost importance for all the developing countries. • Four case studies of trade policy EIA in China are reviewed for policy implications. • Departmental competition for political power impedes economic policy EIAs in China. • Legislative regulation on policy EIA is the first thing needed to overcome barrier.

  12. A review of EIAs on trade policy in China: Exploring the way for economic policy EIAs

    International Nuclear Information System (INIS)

    Mao, Xianqiang; Song, Peng; Kørnøv, Lone; Corsetti, Gabriel

    2015-01-01

    During the discussion on the “Environmental Protection Law Amendment (draft)” in 2011, it was decided to drop the proposed clauses related to environmental impact assessments (EIAs) on policy, which means that there remained no provisions for policy EIAs, and China's strategic environmental assessment system stayed limited to the planning level. However, considering that economic policy making is causing significant direct and indirect environmental problems and that almost every aspect of governmental policy has an economic aspect, EIAs on economic policies are of the utmost urgency. The purpose of this study is to review the EIA work that has been carried out on trade policy in China through four case studies, and illustrate how trade policy EIAs can be helpful in achieving better environmental outcomes in the area of trade. Through the trade policy EIA case studies we try to argue for the feasibility of conducting EIAs on economic policies in China. We also discuss the implications of the case studies from the point of view of how to proceed with EIAs on economic policy and how to promote their practice. - Highlights: • SEA system is incomplete and stays limited to the plan EIA level in China. • EIA on economic policy is of utmost importance for all the developing countries. • Four case studies of trade policy EIA in China are reviewed for policy implications. • Departmental competition for political power impedes economic policy EIAs in China. • Legislative regulation on policy EIA is the first thing needed to overcome barrier

  13. Wild Vervet Monkeys Trade Tolerance and Specific Coalitionary Support for Grooming in Experimentally Induced Conflicts.

    Science.gov (United States)

    Borgeaud, Christèle; Bshary, Redouan

    2015-11-16

    Grooming is a key social behavior in many primate species. Research has focused on three important aspects: the short- and long-term trading patterns of grooming for itself and/or for other commodities like tolerance or coalitionary support, the issue of whether exchanges are a convincing example for reciprocity, and what decision rules underlie trading. These issues remain largely unresolved due to the correlative nature of observational studies and the rarity of experimental studies. Here, we present a new experimental paradigm to address these questions in wild vervet monkeys (Chlorocebus pygerythrus). Adult females were first trained to approach a personal box, identifiable by unique color patterns, to access high-quality food. During the experiments, two boxes were placed next to each other to induce conflict through forced proximity. We found that while dominants were generally more tolerant toward bonded individuals, recent grooming increased tolerance independently of relationship quality. The latter result shows that vervet monkeys traded grooming for short-term tolerance, where dominants used a direct-reciprocity decision rule. In contrast, females invariably supported the higher-ranking opponent in a conflict, independently of who was the recent grooming partner. Nevertheless, recent grooming increased the probability that a female supported the partner during conflicts with a low-ranking third party. Thus, females' decisions about coalitionary support seem to integrate information about the current social hierarchy with recent grooming events. In conclusion, decision rules underlying trading of grooming for other commodities involve a variety of timescales and factors. Copyright © 2015 Elsevier Ltd. All rights reserved.

  14. Trade union policy and nuclear power

    International Nuclear Information System (INIS)

    Elliot, D.

    1981-01-01

    The subject is discussed under the headings: introduction; energy policy; the beginning of doubt; SERA's role [SERA = Socialist Environment and Resources Association]; the 1980 nuclear debate [within the trade union movement]; the 1981 nuclear debate [within the trade union movement]; the issues reviewed (supply and demand; safety and employment; security); review of policy trends; conclusions. Appendix: a review of union policy statements. (U.K.)

  15. Mechanical and metal trades handbook

    CERN Document Server

    2012-01-01

    Englische Ausgabe des vielfach bewährten Tabellenbuchs Metall, 45. Auflage. Translation of the 45th edition of the well-known "Tabellenbuch Metall". It is well suited for shop reference, tooling, machine building, maintenance and as a general book of knowledge. It is also useful for educational purposes, especially in practical work or curricula, continuing education programs. The contents of this book include tables and formulae in eight chapters. The tables contain the most important guidelines, designs, types, dimensions and standard values for their subject areas.

  16. Do Exchange Rates Really Help Forecasting Commodity Prices?

    DEFF Research Database (Denmark)

    Bork, Lasse; Kaltwasser, Pablo Rovira; Sercu, Piet

    Chen et al. (2010) report that for ‘commodity currencies’, the exchange rate predicts the country’s commodity index but not vice versa. The commodity currency hypothesis is consistent with the Engle and West (2005) exchange rate model if the fundamental is chosen to be the country’s key export...... expectations, one should mostly observe contemporaneous correlations, not one-directional cross-predictability from one variable toward the other. Using three different data sets and various econometric techniques, we do find the contemporaneous correlations as predicted by the financial asset view......-averaged prices in the commodity index data that they use (price averaging induces spurious autocorrelation and predictability) and to features in their test procedures....

  17. FORMAL TRADE BETWEEN INDIA AND BANGLADESH: AN EMPIRICAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    S. K.S. YADAV

    2016-08-01

    Full Text Available The importance of improving trade flows between India and Bangladesh is not only beneficial to them, but for the whole SAARC region, given that Bhutan and Nepal utilise Bangladesh ports as gateways to trade outside the region. Bangladesh’s overall exports are dominated by labour-intensive manufacturing and its imports to India by primary commodities. The shares of manufactured goods in country’s overall export were about 92 and 91 percent in 2001 and 2011 respectively. However, the composition of bilateral trade between these two countries has been changing over time. Addition and removal in the list of products of trade basket is a usual process. Consistent products in the trade basket of Bangladesh are ready made garments and sea food, whereas those of India are raw cotton, cereals and products and machinery of iron and steel. Expansion of trade of these countries with outside world, but not with each other confirms the prevalence of certain barriers, physical or non-physical in nature, rendering many potential products remain untraded. India and Bangladesh being geographically proximate to each other possess huge scope to trade. Specifically as both the countries are rich in natural resources and are competent in the production of small-scale manufacturing and agrarian supplies, mostly from the eastern parts of India and Bangladesh, both possess huge potential for bilateral trade. Many items having high trade potential are still not able to get market exposure in the neighbouring country because of various non-tariff barriers prevailing in current trade scenario, which have hiked up the cost of doing business to unacceptable proportions and as most of the highly tradable products are still kept under the sensitive lists of Bangladesh. There are numerous bottlenecks in the current trade infrastructure which turns out to be physical barrier to trade. The present paper highlights the import export and Exchange Rate change and prospects of

  18. 7 CFR 1427.22 - Commodity certificate exchanges.

    Science.gov (United States)

    2010-01-01

    ... commodity certificate for the marketing assistance loan collateral. This provision terminates effective... exchange the marketing assistance loan collateral, and (3) Immediately exchanging the purchased commodity certificate for the outstanding loan collateral. [67 FR 64459, Oct. 18, 2002, as amended at 73 FR 65722, Nov...

  19. Heavy metal removal from water/wastewater by nanosized metal oxides: A review

    International Nuclear Information System (INIS)

    Hua, Ming; Zhang, Shujuan; Pan, Bingcai; Zhang, Weiming; Lv, Lu; Zhang, Quanxing

    2012-01-01

    Nanosized metal oxides (NMOs), including nanosized ferric oxides, manganese oxides, aluminum oxides, titanium oxides, magnesium oxides and cerium oxides, provide high surface area and specific affinity for heavy metal adsorption from aqueous systems. To date, it has become a hot topic to develop new technologies to synthesize NMOs, to evaluate their removal of heavy metals under varying experimental conditions, to reveal the underlying mechanism responsible for metal removal based on modern analytical techniques (XAS, ATR-FT-IR, NMR, etc.) or mathematical models, and to develop metal oxide-based materials of better applicability for practical use (such as granular oxides or composite materials). The present review mainly focuses on NMOs’ preparation, their physicochemical properties, adsorption characteristics and mechanism, as well as their application in heavy metal removal. In addition, porous host supported NMOs are particularly concerned because of their great advantages for practical application as compared to the original NMOs. Also, some magnetic NMOs were included due to their unique separation performance.

  20. Commodity team motivation and performance

    DEFF Research Database (Denmark)

    Englyst, Linda; Jørgensen, Frances; Johansen, John

    2008-01-01

    In this article, an in-depth single case study is presented in order to explore and discuss the functioning of commodity teams in a global sourcing context. Specifically, the study aimed at identifying factors that may influence team members' motivation to participate in activities that create...... opportunities for synergy and coordination of purchasing. In the teams studied, motivation appeared to be influenced to some degree by a number of factors, including rewards, leadership behaviours, goal setting, and the career goals of the commodity team members. In some cases, inconsistencies between...

  1. Commodity Team Motivation and Performance

    DEFF Research Database (Denmark)

    Englyst, Linda; Jørgensen, Frances; Johansen, John

    2008-01-01

    In this article, an in-depth single case study is presented in order to explore and discuss the functioning of commodity teams in a global sourcing context. Specifically, the study aimed at identifying factors that may influence team members' motivation to participate in activities that create...... opportunities for synergy and coordination of purchasing. In the teams studied, motivation appeared to be influenced to some degree by a number of factors, including rewards, leadership behaviours, goal setting, and the career goals of the commodity team members. In some cases, inconsistencies between...

  2. Review of friction modeling in metal forming processes

    DEFF Research Database (Denmark)

    Nielsen, C.V.; Bay, N.

    2018-01-01

    Abstract In metal forming processes, friction between tool and workpiece is an important parameter influencing the material flow, surface quality and tool life. Theoretical models of friction in metal forming are based on analysis of the real contact area in tool-workpiece interfaces. Several...... research groups have studied and modeled the asperity flattening of workpiece material against tool surface in dry contact or in contact interfaces with only thin layers of lubrication with the aim to improve understanding of friction in metal forming. This paper aims at giving a review of the most...... conditions, normal pressure, sliding length and speed, temperature changes, friction on the flattened plateaus and deformation of the underlying material. The review illustrates the development in the understanding of asperity flattening and the methods of analysis....

  3. Bitcoin: not a currency-like informational commodity

    NARCIS (Netherlands)

    Bergstra, J.A.

    2014-01-01

    Six assertions concerning the status of Bitcoin are formulated and defended: (i) Bitcoin is not and will not become a currency-like informational commodity, (ii) currency-like informational commodities that aren’t currencies must be frauds, (ii) specific BTC amounts may become monetized and thus may

  4. Changing Context of Trade Mark Protection in India: A Review of the Trade Marks Act, 1999

    OpenAIRE

    Pathak, Akhileshwar

    2004-01-01

    With liberalisation and globalisation of the Indian economy, it has become possible for anyone to get into production and services in most of the sectors. This has led to rampant misuse and appropriation of trade marks. In an insulated economy, with monopoly markets, law protecting trade marks had a limited role. In the changed context, however, trade mark law will be a field of much interest for academics and practitioners. Towards this, the paper explores the formation of trade mark law in ...

  5. Resource power and resource security: the politics of nonfuel minerals trade

    International Nuclear Information System (INIS)

    Kahn, O.E.

    1985-01-01

    The developed producers, Canada, Australia, and South Africa, and not the developing producers, are the power wielders and major tracers in nonfuel minerals. Specific circumstances allow producers to obtain compliant behavior from consumers. These include: exporter's market share, importer's degree of dependence, the material's being critical to importer's economy, and the trading system's condoning nonmarket goals. These (and other) criteria comprise an analytical device, the strategic trading relationship, which is used to demonstrate developed producer commodity power and developed consumer vulnerability. Consuming country governments rely on the private sector to deal with national enmeshment in strategic trading relationships. Japan excepted, OECD members fail either to address their continued access to nonfuel minerals, or their ability to survive supply disruption with minimum dislocation. Producer power is exemplified by Canada's threat and use of embargo to make her uranium customers tighten their nonproliferation policies. Structural power deters South Africa's ability to head off wholehearted economic pressure is the classic case

  6. Review of the impact of the Ukraine-EU free trade agreement on manufacturing industries (mechanical engineering, chemical and light industry

    Directory of Open Access Journals (Sweden)

    Olga Usenko

    2007-03-01

    Full Text Available The article gives a definition to the concept of ‘deep integration’ taken by the Ukrainian Government as a framework concept for the establishment of a Ukraine-EU free trade area. The paper uses the term ‘deep free trade’ or ‘free trade area +’. It offers a review of the Ukrainian economy and its readiness to open such industries as mechanical engineering, chemical and light industry to free trade with the EU. It examines which cooperative steps might be taken in the sectors in question in the framework of a free trade area by identifying specific features of those sectors in Ukraine and the EU through SWOT analysis and review of certain provisions in relevant agreements between the EU and other countries. It proposes to forecast the possible impact of a free trade area on stakeholders’ position regarding the agreement by using the ‘stakeholder approach’ (identifying and classifying interest groups and the European Commission’s method of ‘impact assessment’. Based on the results of this research, conclusions are made concerning the fundamental negotiation principles for talks between Ukraine and the EU as to the economic and trade component of the new ‘enhanced agreement.

  7. 75 FR 15403 - Information Collection, Procurement of Agricultural Commodities for Foreign Donation

    Science.gov (United States)

    2010-03-29

    ... Agricultural Commodities for Foreign Donation AGENCY: Commodity Credit Corporation, USDA ACTION: Notice... commodities for foreign donation. The Kansas City Commodity Office (KCCO) issues a public invitation... Agricultural Commodities for Foreign Donation. OMB Number: 0560-0258. Expiration Date: May 31, 2010. Type of...

  8. Computerized commodity management system in Thailand and Brazil.

    Science.gov (United States)

    1984-01-01

    Thailand's National Family Planning Program is testing a computerized contraceptive commodity reporting management in 4 provinces with 104 National Family Planning Program (NFPP) reporting entities. Staff in the Brazilian Association of Family Planning Entities (ABEPF) and CPAIMC, a major family planning service agency, have been trained in the use of a computerized commodity distribution management system and are ready to initiate test use. The systems were designed in response to specific commodity management needs of the concerned organizations. Neither distribution program functions as a contraceptive social marketing (CSM) program, but each system reviewed has aspects that are relevant to CSM commodity management needs. Both the Thai and Brazilian systems were designed to be as automatic and user friendly as possible. Both have 3 main databases and perform similar management and reporting functions. Differing program configurations and basic data forms reflect the specific purposes of each system. Databases for the logistics monitoring system in Thailand arethe reporting entity (or ID) file; the current month's data file; and the master balance file. The data source is the basic reporting form that also serves as a Request and Issue Voucher for commodities. Editing functions in the program check to see that the current "beginning balance" equals the previous month's ending balance. Indexing functions in the system allow direct access to the records of any reporting entity via the ID number, as well as the sequential processing of records by ID number. 6 reports can be generated: status report by issuing entity; status report by dispensing entity; aggregate status report; out of compliance products report; out of compliance outlets report; and suggested shipment to regional warehouse report. Databases for the distribution management system in Brazil are: the name-ID (client institution) file; the product file; and the data file. The data source is an order form

  9. Spin-diffusion lengths in metals and alloys, and spin-flipping at metal/metal interfaces: an experimentalist's critical review

    International Nuclear Information System (INIS)

    Bass, Jack; Pratt, William P Jr

    2007-01-01

    In magnetoresistance (MR) studies of magnetic multilayers composed of combinations of ferromagnetic (F) and non-magnetic (N) metals, the magnetic moment (or related 'spin') of each conduction electron plays a crucial role, supplementary to that of its charge. While initial analyses of MR in such multilayers assumed that the direction of the spin of each electron stayed fixed as the electron transited the multilayer, we now know that this is true only in a certain limit. Generally, the spins 'flip' in a distance characteristic of the metal, its purity, and the temperature. They can also flip at F/N or N1/N2 interfaces. In this review we describe how to measure the lengths over which electron moments flip in pure metals and alloys, and the probability of spin-flipping at metallic interfaces. Spin-flipping within metals is described by a spin-diffusion length, l sf M , where the metal M F or N. Spin-diffusion lengths are the characteristic lengths in the current-perpendicular-to-plane (CPP) and lateral non-local (LNL) geometries that we focus upon in this review. In certain simple cases, l sf N sets the distance over which the CPP-MR and LNL-MR decrease as the N-layer thickness (CPP-MR) or N-film length (LNL) increases, and l sf F does the same for increase of the CPP-MR with increasing F-layer thickness. Spin-flipping at M1/M2 interfaces can be described by a parameter, δ M1/M2 , which determines the spin-flipping probability, P = 1-exp(-δ). Increasing δ M1/M2 usually decreases the MR. We list measured values of these parameters and discuss the limitations on their determinations. (topical review)

  10. 76 FR 15294 - Export Trade Certificate of Review

    Science.gov (United States)

    2011-03-21

    ... information on trade opportunities; marketing; negotiations; joint ventures; shipping; export management; export licensing; advertising; documentation and services related to compliance with customs requirements; insurance and financing; trade show exhibitions; organizational development; management and labor strategies...

  11. 75 FR 44760 - Export Trade Certificate of Review

    Science.gov (United States)

    2010-07-29

    ... information on trade opportunities; marketing; negotiations; joint ventures; shipping; export management; export licensing; advertising; documentation and services related to compliance with customs requirements; insurance and financing; trade show exhibitions; organizational development; management and labor strategies...

  12. Trading on extinction: An open-access deterrence model for the South African abalone fishery

    Directory of Open Access Journals (Sweden)

    Douglas J. Crookes

    2016-03-01

    Full Text Available South African rhinoceros (e.g.Diceros bicornis and abalone (Haliotis midae have in common that they both are harvested under open-access conditions, are high-value commodities and are traded illegally. The difference is that a legal market for abalone already exists. An open-access deterrence model was developed for South African abalone, using Table Mountain National Park as a case study. It was found that illegal poaching spiked following the closure of the recreational fishery. The resource custodian's objective is to maximise returns from confiscations. This study showed that a legal trade results in a trading on extinction resource trap, with a race for profits, an increase in the probability of detection after a poaching event and the depletion of populations. In contrast with HS Gordon's seminal article (J Polit Econ 1954;62:124-142, profit maximisation does not automatically improve the sustainability of the resource. Under certain conditions (e.g. a legal trade with costly enforcement, profit maximisation may actually deplete abalone populations. The article also has implications for rhino populations, as a legal trade is currently proposed.

  13. Data Cubes Integration in Spatial OLAP for Agricultural Commodities

    Science.gov (United States)

    Putri, A. I.; Sitanggang, I. S.

    2017-03-01

    Ministry of Agriculture Indonesia collects data of agricultural commodities in Indonesia in the annual period. Agricultural commodities data include food crops, horticulture, plantations, and livestock. The data are available in the spreadsheet format. This study developed data cubes for food crops, plantations, and livestock using the galaxy schema of data warehouse and integrated the data cubes into the SOLAP Horticulture using SpagoBI. SOLAP is useful for data analysis and data visualization. The application displays agricultural commodities data in form of crosstab and chart. This study also developed the location intelligence module that visualizes agricultural commodities data on the map. The system was tested using the black box approach. The result showed that main functions including roll up, drill down, slice, dice, and pivot work properly. This application is expected to enable users to easily obtain data summaries of agricultural commodities.

  14. A dataset on tail risk of commodities markets.

    Science.gov (United States)

    Powell, Robert J; Vo, Duc H; Pham, Thach N; Singh, Abhay K

    2017-12-01

    This article contains the datasets related to the research article "The long and short of commodity tails and their relationship to Asian equity markets"(Powell et al., 2017) [1]. The datasets contain the daily prices (and price movements) of 24 different commodities decomposed from the S&P GSCI index and the daily prices (and price movements) of three share market indices including World, Asia, and South East Asia for the period 2004-2015. Then, the dataset is divided into annual periods, showing the worst 5% of price movements for each year. The datasets are convenient to examine the tail risk of different commodities as measured by Conditional Value at Risk (CVaR) as well as their changes over periods. The datasets can also be used to investigate the association between commodity markets and share markets.

  15. Identifying the community structure of the food-trade international multi-network

    Science.gov (United States)

    Torreggiani, S.; Mangioni, G.; Puma, M. J.; Fagiolo, G.

    2018-05-01

    Achieving international food security requires improved understanding of how international trade networks connect countries around the world through the import-export flows of food commodities. The properties of international food trade networks are still poorly documented, especially from a multi-network perspective. In particular, nothing is known about the multi-network’s community structure. Here we find that the individual crop-specific layers of the multi-network have densely connected trading groups, a consistent characteristic over the period 2001–2011. Further, the multi-network is characterized by low variability over this period but with substantial heterogeneity across layers in each year. In particular, the layers are mostly assortative: more-intensively connected countries tend to import from and export to countries that are themselves more connected. We also fit econometric models to identify social, economic and geographic factors explaining the probability that any two countries are co-present in the same community. Our estimates indicate that the probability of country pairs belonging to the same food trade community depends more on geopolitical and economic factors—such as geographical proximity and trade-agreement co-membership—than on country economic size and/or income. These community-structure findings of the multi-network are especially valuable for efforts to understand past and emerging dynamics in the global food system, especially those that examine potential ‘shocks’ to global food trade.

  16. Carbon-dioxide emissions trading and hierarchical structure in worldwide finance and commodities markets.

    Science.gov (United States)

    Zheng, Zeyu; Yamasaki, Kazuko; Tenenbaum, Joel N; Stanley, H Eugene

    2013-01-01

    In a highly interdependent economic world, the nature of relationships between financial entities is becoming an increasingly important area of study. Recently, many studies have shown the usefulness of minimal spanning trees (MST) in extracting interactions between financial entities. Here, we propose a modified MST network whose metric distance is defined in terms of cross-correlation coefficient absolute values, enabling the connections between anticorrelated entities to manifest properly. We investigate 69 daily time series, comprising three types of financial assets: 28 stock market indicators, 21 currency futures, and 20 commodity futures. We show that though the resulting MST network evolves over time, the financial assets of similar type tend to have connections which are stable over time. In addition, we find a characteristic time lag between the volatility time series of the stock market indicators and those of the EU CO(2) emission allowance (EUA) and crude oil futures (WTI). This time lag is given by the peak of the cross-correlation function of the volatility time series EUA (or WTI) with that of the stock market indicators, and is markedly different (>20 days) from 0, showing that the volatility of stock market indicators today can predict the volatility of EU emissions allowances and of crude oil in the near future.

  17. Commodity, pre-salt and development

    Energy Technology Data Exchange (ETDEWEB)

    Alvim, Carlos Feu; Fantine, Jose [Univerisdade Federal do Rio de Janeiro (UFRJ/COPPE), RJ (Brazil). Coordenacao do Programa de Pos-graduacao em Engenharia

    2008-04-15

    'Brazil is essentially an agricultural country' was the economical truism taught in school in the 1950s. The country was under the influence of the coffee cycle that has followed other ones based on extractive or agricultural products in successive cycles since the Colonial period: pau-brasil, sugarcane, gold, cocoa, rubber, etc. Presently commodities dominate our exports and one might ask: is Brazil essentially a commodity-exporting country? The recent publication of the government document 'Productive development policy - innovate and invest to support growth' makes it opportune to discuss the subject. (author)

  18. 75 FR 31423 - Export Trade Certificate of Review

    Science.gov (United States)

    2010-06-03

    ... Analysis (``OCEA'') of the International Trade Administration, Department of Commerce, has received an... FURTHER INFORMATION CONTACT: Joseph Flynn, Director, Office of Competition and Economic Analysis... Analysis, International Trade Administration, U.S. Department of Commerce, Room 7021-X, Washington, DC...

  19. Trade networks in West Africa

    DEFF Research Database (Denmark)

    Walther, Olivier

    2014-01-01

    To date, most of the literature on trade networks in West Africa has considered networks in a metaphorical way. The aim of this paper is to go one step further by showing how social network analysis may be applied to the study of regional trade in West Africa. After a brief review of the literature......, this exploratory paper investigates two main issues related to regional trade. We start by discussing how recent developments in regional trade in West Africa have contributed to challenging the social structure of traders. We then discuss the changes that have affected the spatiality of regional trade by looking...

  20. 75 FR 25206 - Export Trade Certificate of Review

    Science.gov (United States)

    2010-05-07

    ... Products, Services, and Technology Rights): Export Trade Facilitation Services include professional... issued. FOR FURTHER INFORMATION CONTACT: Joseph E. Flynn, Director, Office of Competition and Economic... number) or e- mail at [email protected] . SUPPLEMENTARY INFORMATION: Title III of the Export Trading...

  1. Metal Matrix Composites Reinforced by Nano-Particles—A Review

    Directory of Open Access Journals (Sweden)

    Riccardo Casati

    2014-03-01

    Full Text Available Metal matrix composites reinforced by nano-particles are very promising materials, suitable for a large number of applications. These composites consist of a metal matrix filled with nano-particles featuring physical and mechanical properties very different from those of the matrix. The nano-particles can improve the base material in terms of wear resistance, damping properties and mechanical strength. Different kinds of metals, predominantly Al, Mg and Cu, have been employed for the production of composites reinforced by nano-ceramic particles such as carbides, nitrides, oxides as well as carbon nanotubes. The main issue of concern for the synthesis of these materials consists in the low wettability of the reinforcement phase by the molten metal, which does not allow the synthesis by conventional casting methods. Several alternative routes have been presented in literature for the production of nano-composites. This work is aimed at reviewing the most important manufacturing techniques used for the synthesis of bulk metal matrix nanocomposites. Moreover, the strengthening mechanisms responsible for the improvement of mechanical properties of nano-reinforced metal matrix composites have been reviewed and the main potential applications of this new class of materials are envisaged.

  2. An assessment of international trade related to bioenergy use in Austria—Methodological aspects, recent developments and the relevance of indirect trade

    International Nuclear Information System (INIS)

    Kalt, Gerald; Kranzl, Lukas

    2012-01-01

    Increasing international biomass trade for energy and concerns about sustainability of globally traded biomass have raised interest in assessments of cross-border trade related to bioenergy. Within this paper, approaches to overcome methodological difficulties related to biomass trade are proposed and applied for the case of Austria. Biomass currently has a share of 15.5% in Austria’s primary energy consumption of 1354 PJ (2009). According to energy statistics, the rate of self-sufficiency with biomass for energy (defined as the ratio of domestic production to inland consumption, with both imports and exports taken into account) is 91%. However, feedstock imports for transport fuel production and indirect imports of wood-based fuels (wood processing residues and waste liquor of the paper industry originating from imported wood) are not taken into account in energy statistics, but prove to be of some significance. Imports of agricultural commodities to the amount of 9.7 PJ can be attributed to domestic biofuel production, and indirect imports of wood-based fuels, account for 31 PJ. With these import streams taken into account, the share of domestic fuels in bioenergy use is only 67%, rather than 84%, as official energy statistics suggest. On the other hand, Austria is exporting more than 50% of its production of sawnwood, panelboard and paper products. - Highlights: ► We investigate biomass cross-border trade related to bioenergy use in Austria. ► International biomass trade for energy has increased significantly in recent years. ► A flow wood diagram is derived to identify indirect trade streams of wood fuels. ► Biofuel feedstock imports are about as important as direct biofuel imports. ► 33% of bioenergy in Austria originate from imported biomass (2009).

  3. A Review of Polycyclic Aromatic Hydrocarbons and Heavy Metal ...

    African Journals Online (AJOL)

    A Review of Polycyclic Aromatic Hydrocarbons and Heavy Metal Contamination of Fish from Fish Farms. ... Journal of Applied Sciences and Environmental Management ... Polycyclic aromatic hydrocarbons (PAHs) and heavy metals contribute to pollutants in aquaculture facilities and thus need to be further investigated.

  4. THE IMPACT OF COMPETITIVENESS ON TRADE EFFICIENCY: THE ASIAN EXPERIENCE BY USING THE STOCHASTIC FRONTIER GRAVITY MODEL

    Directory of Open Access Journals (Sweden)

    Memduh Alper Demir

    2017-12-01

    Full Text Available The purpose of this study is to examine the bilateral machinery and transport equipment trade efficiency of selected fourteen Asian countries by applying stochastic frontier gravity model. These selected countries have the top machinery and transport equipment trade (both export and import volumes in Asia. The model we use includes variables such as income, market size of trading partners, distance, common culture, common border, common language and global economic crisis similar to earlier studies using the stochastic frontier gravity models. Our work, however, includes an extra variable called normalized revealed comparative advantage (NRCA index additionally. The NRCA index is comparable across commodity, country and time. Thus, the NRCA index is calculated and then included in our stochastic frontier gravity model to see the impact of competitiveness (here measured by the NRCA index on the efficiency of trade.

  5. DISTRIBUTION OF HEAVY METALS AMONG THE COMPONENTS OF FRESHWATER ECOSYSTEMS (REVIEW)

    OpenAIRE

    N. Kolesnyk

    2014-01-01

    Purpose. To review scientific sources on the distribution of heavy metals among the components of freshwater ecosystems. Findings. The review of the works of many scientists showed that heavy metals are widespread in the biotic and abiotic components of freshwater ecosystems. The article highlights the distribution of heavy metals in water, bottom sediments, natural food base, fish organs and tissues. It has been shown that as a result of global pollution of the ecosystem, the majority of...

  6. A use-side procedure for estimating trade margins in input-output analysis

    Directory of Open Access Journals (Sweden)

    Marisa Asensio Pardo

    2005-01-01

    Full Text Available According to the National Accounting Systems proposed by United Nations (1993 and Eurostat (1996, use and make (or supply matrices should be measured before goods and services are conveyed to the markets (basic values. Actually, the make table is defined in basic values (excluding trade and transport margins and net commodity taxes whereas the use table is in purchasers’ values (including them. In particular, this paper shows how trade margins can be removed from the use table with the purpose of constructing an input-output table. The proposed approach is based on the use-side procedure from the ESA-95 Input-Output Manual (Eurostat, 2002 and is also being applied to the forthcoming 2000 Andalusian Input-Output Framework.

  7. Primary Commodity Dependency: A Limiting Factor for Achieving Democracy

    Science.gov (United States)

    2010-03-24

    two ~gricultural crops, minerals, petroleum, or fisheries can be considered primary commodity dependent. Tea, coffee, and cocoa ; peanuts and cotton...Rostow’s Development Model Pre-conditions for take-off mass consumption democracy. In 1960s, economists, associated democratization to a developmental...Commodities can be renewable or non-renewable. Petroleum, diamonds, cocoa , bananas, coffee, and timber are just a few of the commodities that have

  8. 17 CFR 201.58 - Judicial review.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Judicial review. 201.58 Section 201.58 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION RULES OF PRACTICE Regulations Pertaining to the Equal Access to Justice Act § 201.58 Judicial review. Judicial review of final...

  9. Price transmission for agricultural commodities in Uganda: An empirical vector autoregressive analysis

    DEFF Research Database (Denmark)

    Lassen Kaspersen, Line; Føyn, Tullik Helene Ystanes

    This paper investigates price transmission for agricultural commodities between world markets and the Ugandan market in an attempt to determine the impact of world market prices on the Ugandan market. Based on the realization that price formation is not a static concept, a dynamic vector...... price relations, i.e. the price variations between geographically separated markets in Uganda and the world markets. Our analysis indicates that food markets in Uganda, based on our study of sorghum price transmission, are not integrated into world markets, and that oil prices are a very determining...... autoregressive (VAR) model is presented. The prices of Robusta coffee and sorghum are examined, as both of these crops are important for the domestic economy of Uganda – Robusta as a cash crop, mainly traded internationally, and sorghum for consumption at household level. The analysis focuses on the spatial...

  10. The relationship between international trade and non-nutritional health outcomes: A systematic review of quantitative studies.

    Science.gov (United States)

    Burns, Darren K; Jones, Andrew P; Suhrcke, Marc

    2016-03-01

    Markets throughout the world have been reducing barriers to international trade and investment in recent years. The resulting increases in levels of international trade and investment have subsequently generated research interest into the potential population health impact. We present a systematic review of quantitative studies investigating the relationship between international trade, foreign direct investment and non-nutritional health outcomes. Articles were systematically collected from the SCOPUS, PubMed, EconLit and Web of Science databases. Due to the heterogeneous nature of the evidence considered, the 16 included articles were subdivided into individual level data analyses, selected country analyses and international panel analyses. Articles were then quality assessed using a tool developed as part of the project. Nine of the studies were assessed to be high quality, six as medium quality, and one as low quality. The evidence from the quantitative literature suggests that overall, there appears to be a beneficial association between international trade and population health. There was also evidence of the importance of foreign direct investment, yet a lack of research considering the direction of causality. Taken together, quantitative research into the relationship between trade and non-nutritional health indicates trade to be beneficial, yet this body of research is still in its infancy. Future quantitative studies based on this foundation will provide a stronger basis on which to inform relevant national and international institutions about the health consequences of trade policies. Copyright © 2016 Elsevier Ltd. All rights reserved.

  11. Optimum commodity taxation with a non-renewable resource

    DEFF Research Database (Denmark)

    Daubanes, Julien Xavier; Lasserre, Pierre

    2017-01-01

    We examine optimum commodity taxation (OCT), including the taxation of non-renewable resources (NRRs), by a government that needs to rely on commodity taxes to raise revenues. NRRs should be taxed at higher rates than otherwise-identical conventional commodities, according to an augmented, dynamic...... formulas can directly be used to indicate how Pigovian taxation of carbon NRRs should be increased in the presence of public-revenue needs, as illustrated in a numerical example. We show that NRR substitutes and complements should receive a particular tax treatment. Finally, in a NRR-importing economy...

  12. 76 FR 10885 - Export Trade Certificate of Review

    Science.gov (United States)

    2011-02-28

    ... Competition and Economic Analysis, International Trade Administration, U.S. Department of Commerce, received... of Competition and Economic Analysis, International Trade Administration, by telephone at (202) 482..., Director, Office of Competition and Economic Analysis. [FR Doc. 2011-4326 Filed 2-25-11; 8:45 am] BILLING...

  13. 75 FR 44762 - Export Trade Certificate of Review

    Science.gov (United States)

    2010-07-29

    ... Competition and Economic Analysis (``OCEA'') of the International Trade Administration, U.S. Department of..., Office of Competition and Economic Analysis, International Trade Administration, (202) 482-5131 (this is... later than 20 days after the date of this notice to: Office of Competition and Economic Analysis...

  14. 7 CFR 17.5 - Contracts between commodity suppliers and importers.

    Science.gov (United States)

    2010-01-01

    ... officers and a description of the firm's experience as an exporter of U.S. agricultural commodities. Copies... under this part and the purchase authorization. (3) If, at the time the commodity supplier reports the... requirements unless otherwise specified in the purchase authorization. (1) Commodity contracts between...

  15. Toward Improved Market Access for ASEAN Agricultural Commodities

    International Development Research Centre (IDRC) Digital Library (Canada)

    ... technical report, November 2009 - May 2013. Études. Towards improved market access for ASEAN agricultural commodities : donor partnerships strategy and plan. Rapports. Towards improved market access for ASEAN agricultural commodities : project inception meeting report, Palm Garden Hotel, Putrajaya, Malaysia, ...

  16. Heavy metal pollution in coastal areas of South China: A review

    International Nuclear Information System (INIS)

    Wang, Shuai-Long; Xu, Xiang-Rong; Sun, Yu-Xin; Liu, Jin-Ling; Li, Hua-Bin

    2013-01-01

    Highlights: • Heavy metal contamination in coastal areas of South China has been reviewed. • Heavy metal levels were closely related to economic development in past decades. • Heavy metal levels from Hong Kong continually decreased from the early 1990s. • Higher concentrations of heavy metals were found in mollusk. • Levels of heavy metals in part of seafood exceeded the safety limit. -- Abstract: Coastal areas of South China face great challenges due to heavy metal contamination caused by rapid urbanization and industrialization. In this paper, more than 90 articles on levels, distributions, and sources of heavy metals in sediments and organisms were collected to review the status of heavy metal pollution along coastal regions of South China. The results show that heavy metal levels were closely associated with local economic development. Hong Kong and the Pearl River Estuary were severely contaminated by heavy metals. However, concentrations of heavy metals in sediments from Hong Kong have continually decreased since the early 1990s. High levels of heavy metals were found in biota from Lingdingyang in Guangdong province. Mollusks had higher concentrations of heavy metals than other species. Human health risk assessments suggested that levels of heavy metals in some seafood from coastal areas of South China exceeded the safety limit

  17. 76 FR 20835 - Order of the Commodity Futures Trading Commission Relating to the Continuation, Shutdown, and...

    Science.gov (United States)

    2011-04-14

    ... such as system malfunctions, cyber security incidents or financial emergencies throughout a lapse in...)), part 41 (filing of notice-designated contract markets trading security futures products), regulations... (``RFA'') requires the Commission to consider whether a rule it proposes will have a significant economic...

  18. Underdeveloped spot markets and futures trading: The Soya Oil exchange in India

    OpenAIRE

    Bharat Ramaswami; Jatinder Bir Singh

    2006-01-01

    Abstract The limited presence of futures exchanges in developing countries where commodity markets fall short of the ideal underscore the importance of understanding the relation between spot and futures markets. The paper examines the exceptional success of the soya oil contract at the National Board of Trade (NBOT) in India. The paper asks whether the NBOT contract exhibits the fundamental features of mature futures markets in terms of its use by hedgers. If the market offers arbitrage oppo...

  19. 75 FR 75963 - Export Trade Certificate of Review

    Science.gov (United States)

    2010-12-07

    ... DEPARTMENT OF COMMERCE International Trade Administration [Application No. 92-9A001] Export Trade... Industries Association of America (``AIA'') (Application 92-9A001). SUMMARY: The U.S. Department of Commerce...: Accenture is now located in Chicago, IL, with controlling entity Accenture plc, Dublin, Ireland; AAR...

  20. 76 FR 55010 - Export Trade Certificate of Review

    Science.gov (United States)

    2011-09-06

    ... Markets; 4. Develop and recommend to its Members common business models to reduce foreign trade barriers... limited to research on trends, consumer groups, audience groups, purchase profiles of audience and....S. business plans, strategies, or methods that is not already generally available to the trade or...