VALUE CHAIN APPROACH TO RURAL FINANCE
|
|
- Kathleen Sharp
- 8 years ago
- Views:
Transcription
1 VALUE CHAIN APPROACH TO RURAL FINANCE ROMAN KOSODIY, ANNA BONDARENKO ABSTRACT Our research deals with analysis of Ukrainian agricultural enterprises and financial service providers, which are considered as links in a larger system or chain, that supplies goods and services to local, regional, and global markets. We suggest, that developments in enterprises and the financial sector in a value chain complement and build on each other. We explore financial flows within the value chain among the chain participants, as well as potential linkages between the chain participants and third party providers of finance (such as financial institutions) to improve growth of the chain. Keywords: agricultural finance, value chain financing. 1 INTRODUCTION Today new production and marketing relationships have evolved due to economic globalization and commercialization of agriculture, both of which have penetrated rural areas in most CEE countries. As a result, changes are taking place in farm production systems, distribution channels, financial markets and use of information technologies in the food industry. These changes often require capital-intensive investments. However, rural finance, despite several efforts of donors, governments and private investors to improve it, still remains very challenging and is generally weak in developing countries. Gaps exist between supply and demand for rural finance. An inefficiency gap between the potential supply and current achievements, an insufficiency gap between legitimate demand and potential supply, and a feasibility gap between political expectations and legitimate demand are common. Under existing conditions, it is necessary to develop an additional tool in the toolkit of methods, used to study rural finance issues from both supply and demand side perspectives, because we believe that development of sound financial systems is one of the important compo- Sumy National Agrarian University, Ukraine. romkos2000@yahoo.com Sumy National Agrarian University, Ukraine. anna.bondarenko@mail.ru
2 2 Poster Paper presented at IAMO Forum 2008 nents, that facilitate smooth flow of commodities from producers to consumers. Such tool can help to identify interventions in order to develop rural finance, as well as to identify gaps and opportunities for improvements in outreach, sustainability, and impact for specific clusters and subsectors. We introduce one of the approaches to studying of rural finance value chain approach (sometimes referred to as supply chain analysis), which helps to analyze the value, added by actors, involved in each link, related to rural economic activities and clusters of activities, that convert raw materials into finished products and market them. Understanding the conditions, under which value chain finance works or doesn't work, is useful for governments and donors, as well as for lenders, agribusinesses and producer organizations, interested in improving the supply of and access to finance for rural producers. 2 METHODS We use information and data on Ukrainian farms, agricultural markets, as well as the data, provided by financial intermediaries, which are involved in agricultural finance. We also assessed the efficiency of potential customers of financial institutions in the agricultural sector of the Sumy Oblast, and defined the market niches, which may look promising for further integration of financial intermediaries into market for the agricultural finance. 3 AGRICULTURAL VALUE CHAINS FINANCING IN UKRAINE Ensuring financial access for agriculture production in Ukraine and to rural areas in general has always been difficult. The challenges include: high transaction costs for both borrowers and lenders; high risks; lack of reliable financial information about rural households (compounding transactions costs and risk); and financial products ill suited to the financial flows of the borrowers or lenders. As a result, share of investments in agriculture in total investments decreased from 21,4% in 1990 to 5,7% in At the same time, agricultural sector remains one of the important sectors of the Ukrainian economy, accounting for approximately 10% of GDP. Ukraine has excellent conditions for agriculture, which make sure, that it has the potential to become one of the major agricultural countries in Europe. Hence, it is clear that significant efforts need to be undertaken to live up to its potential (VERZIJLENBERG, VONDELING, SCHRIJVER, 2008). Integration into dynamic and efficient value chains is an important strategy for financing rural farming industries. In addition to improving farmers' access to market information, technical
3 Value Chain Approach to Rural Finance 3 support and technology, value chain integration reduces risks and increases access to financial services. Value chain finance can be defined as the flow of financing within a subsector, among value chain actors, for the purpose of getting product to market. Value chain finance, according to this definition, requires a relationship and exchange among value chain actors (JANSEN, 2006). The current interest in value chains and value chain finance is to determine whether value chain relationships can be better understood and exploited in order to address the key constraints for rural and agriculture finance mentioned above. Agricultural value chains in Ukraine can be segmented in a number of ways. In our research, agricultural value chains are represented by input suppliers, producers, processors and retailers. We have segmented agricultural sector based on the type of organization in a legal form, and further refined the sector on the basis of types of operations and size of land use. In such a way we classify Ukrainian agricultural producers into two broad categories: individual and corporate farms (figure 1, table 1). Figure 1. Agricultural value chain financing in Ukraine SOURCE OF FINANCING national retailers global retailers exporters banks banks, leasing companies, state financial support banks, leasing companies processors/ traders banks, leasing companies, state financial support producers* corporate sector private entities with strong commercial orientation that operate mainly at leased land Industrial farming highly commercial, often also combined with processing and marketing over 10,000 hectares Agricultural enterprises highly commercial 2,000-10,000 hectares banks, leasing companies, state financial support banks (working capital financing), credit unions, state financial support individual farms typical family operations private farms mainly commercially oriented size for crop farming: up to 2,000 hectares household plots subsistence oriented with sale of surplus size for crop farming: hectares credit unions, cooperatives self-help groups, family and friends input suppliers banks, leasing companies *according to IFC classification
4 4 Poster Paper presented at IAMO Forum 2008 Table 1: Sources of value chain financing in Ukraine level of source commercialization Value chain elements Input suppliers Producers Individual farms Corporate sector household plots up to 100 ha private farms up to 2,000 ha agricultural enterprises 2,000-10,000 ha industrial farming over 10,000 ha Processors / traders National retailers Exporters Global retailers Sources of financing financing banks leasing companies credit unions through input suppliers Depending on the Depending on the supplier (from type of supplier sufficient to limited (from sufficient to access) limited access) are perceived as too risky limited access working capital financing (< 1 year) working capital financing (< 1 year), small number of enterprises have access to long term loans for equipment (3-5 years) all financial needs are satisfied, have access to long-term financing (up to 10 years) all financial needs are satisfied all financial needs are satisfied all financial needs are satisfied No possibility to use this service limited access small number of enterprises have ample opportunities to attract leasing companies sufficient access (leasing of agricultural machinery) sufficient access (leasing of food processing equipment, trucks) financial support from state tax remissions family and friends sufficient access - none none rarely used credit unions are too early stage of development to serve the needs of smaller farms credit unions are too early stage of development to serve the needs of smaller farms sufficient access rarely used none sufficient access sufficient access sufficient access rarely used - none State Support Fund, different types of compensations on competitive basis different types of compensations on competitive basis different types of compensations on competitive basis different types of compensations on competitive basis exempted from tax, as they are mostly subsistence oriented fixed agrarian tax or if not compliance to criteria for fixed agrarian tax, regular tax regime fixed agrarian tax or if not compliance to criteria for fixed agrarian tax, regular tax regime fixed agrarian tax or if not compliance to criteria for fixed agrarian tax, regular tax regime none limited access limited access rarely used rarely used rarely used sufficient access is not used - limited access none is not used sufficient access is not used - export subsidies none is not used sufficient access is not used - none none is not used - level of access to financial sources (from sufficient to poor) Small number of large corporate enterprises (> 10,000 ha) have ample opportunities to attract foreign investors, as well as banks and leasing companies to provide finance. Their main loan facilities are organized off-shore, creating less dependency on specific local conditions (or impediments) that limits access to finance through the Ukrainian financial sector (VERZIJLENBERG, VONDELING, SCHRIJVER, 2008). Limited access to finance particularly hampers the development of private farm sector (especially the farms between 50 ha and 2,000 ha), as well as the smaller corporate farms. The commercial banking system is insufficiently developed to serve the needs of the smaller farms, whereas credit unions are at a too early stage of development to serve the private farming sector. Both the larger private farms, as well as the smaller corporate farms appear to have more access to finance through input suppliers.
5 Value Chain Approach to Rural Finance 5 Tax laws, which apply to both private farms and agricultural enterprises, contain favorable conditions for agricultural legal entities through simplified tax obligations. Private households are exempted from tax, as they are mostly subsistence-oriented. 4 SOURCES OF VALUE CHAIN FINANCING IN UKRAINE 4.1 Banks In Ukraine, only few banks provide services to the agricultural sector. These include Raiffeisenbank Aval, Bank Nadra, Privatbank, Ukrsotsbank, Creditprombank. However, most of these banks almost do not provide start-up capital and investments in modernization of existing capacities in agricultural enterprises. Finance is predominantly short term (up to 12 months). Taking into account extreme shortage of investments in modernization of agricultural machinery and technologies, banks usually provide loans for financing current operations in enterprises rather than for investments. Share of long term loans for small businesses does not exceed 9% of the total volume of extended loans. High costs of long term loans limit the demand for them (BONDARENKO, KOSODIY, MISHENIN, 2007). Moreover, most banks provide finance only to farms with the size of more than 100 ha. Smaller farms are perceived to be too risky (VERZIJLENBERG, VONDELING, SCHRIJVER, 2008). As regards financing of processing companies, they are offered short-, mid- and long-term loans. Some banks provide finance to processing companies up to ten years (figure 2). Figure 2 Financial products, offered by Ukrainian banks in agricultural sector BANKS, WHICH PROVIDE SERVICES TO AGRICULTURAL SECTOR Raiffesenbank Aval Bank Nadra Privatbank Ukrsotsbank Creditprombank OFFERED FINANCIAL PRODUCTS for agricultural producers for processors Financing of Working capital (< 1 year) Long-term loans for equipment (3-5 years) Short-term loans (< 1 year) Mid-term loans (2-3 year) Long-term loans (up to 10 years) Hence, actual financing of agricultural enterprises by banks mainly consists of collateralized financing of working capital (loan is provided maximum often up to 70% of the collateral). At the same time, agricultural clients often lack sufficient collateral. The lack of adequate collat-
6 6 Poster Paper presented at IAMO Forum 2008 eral along with information asymmetries, high transaction costs, inefficient system of contracts fulfillment, as well as risk, related to agricultural production and governmental policy, are the main obstacles to the efficient financing of agricultural sector by banks. The situation gets worse because of heavy dependence on short term customer funding and absence of additional risk mitigation instruments in place. Banks are hesitant to provide long-term financing to the agricultural sector not only because they perceive the agribusiness sector as to risky, but also because they lack long termfinancing. One of the solutions can be system of state refinancing through agency that attracts funding by issuing bonds, guaranteed by state. Another option is to attract long-term financing from international institutions. However, this would imply the Ukrainian government to first lift the moratorium on agricultural land and to establish the cadastre. As to present day, government has failed to resolve the land issue in Ukraine and even enabling initiatives such as land registration have not been complete yet. For agricultural enterprises, especially for the private farms, this posses a major constraint in acquiring access to finance, for land is not accepted by financial institutions as collateral. 4.2 Leasing companies International practices has proven that leasing is an effective investment mechanism and an important component of the economic and investment policy. Its share in investments into fixed assets comprises approximately 30% in well-developed market economies and % in other countries. However, in Ukraine it is only 1,2 %, but it is showing high growth indicators (VERZIJLENBERG, VONDELING, SCHRIJVER, 2008). During , the number of leasing companies increased almost by 200%, while the value of the portfolio of leasing agreements increased by 340% and amounted at the beginning of 2007 to UAH 3601 million (USD 716 million) (figure 3).
7 Value Chain Approach to Rural Finance 7 Figure 3 Development of Ukrainian leasing market amount of leasing companies leasing portfolio dynamics % amount of companies % UAH, millions p p p. 0 Source: RESULTS OF THE RESEARCH OF THE UKRAINIAN LEASING MARKET Although leasing in Ukraine has shown significant growth rates in recent years, agri-leasing is a relatively new instrument and still underdeveloped. Leasing in agriculture still holds moderate position in the leasing market, despite the enormous need for replacement of agricultural equipment. Only 20% of leasing companies offer agricultural machinery (figure 4). Agricultural sector is considered as the most risky for leasing companies compared to other sectors. Figure 4. Distribution of leasing companies by the types of leased assets cars trucks other production equipment (except for food processing) passenger vehicles computers food processing equipment agricultural machinery buildings (structures) medical equipment publishing equipment telecommunications equipment planes water and railroad means of transportation 21 % 28 % 18 % p p p. 0% 10% 20% 30% 40% 50% 60% 70% 80% Source: RESULTS OF STUDY OF THE UKRAINIAN LEASING MARKET
8 8 Poster Paper presented at IAMO Forum 2008 At the same time, there is a great demand in the Ukrainian leasing market for agricultural machinery, because the level of provision of the Ukrainian agriculture with this machinery is very low. Starting from 1990, the number of agricultural machines decreased twofold. Deterioration rates of machines exceed the rates of their renewal by 10 times. Available tractors and combines do not satisfy the technological need. Availability of tractors in agricultural enterprises amounts to 57 %, grain combines 51 %, combines for corn and beet 52 %, tillage and sowing machines 92 % (MACHINERY IN AGRICULTURE). As a result, load per unit of machinery in Ukraine is 5-10 times higher, than in the developed countries, and several times higher the set standards (figure 5). Figure 5. Load per unit of machinery in certain countries arable land per tractor area under grain per combine hectares per unite of machinery Ukraine USA France Germany Source: MACHINERY IN AGRICULTURE Situation in agriculture is complicated by the fact, that 90% of agricultural machinery are worn out. For example, the level of deterioration for tractors exceeds 72%, for combines 75-98%. High level of machines deterioration requires considerable expenditures for repairs, while total costs for renewal increase annually by 5% and exceed UAH 2 billion. According to studies, conducted by the Institute of Mechanization and Electrification of Agriculture, in order to satisfy the needs of the agricultural sector regarding machinery, there is a demand for annual supply of tractors and 8700 grain combines (MACHINERY IN AGRICULTURE). Therefore, there is a great potential market for leasing of agricultural machines. Many domestic leasing companies are interested in entry into this market. However, growth rates for agricultural lease portfolio are insufficient. For example, in 2006 leasing companies provided for lease USD 16 million of agricultural machinery (figure 6). At the same time, agricultural
9 Value Chain Approach to Rural Finance 9 specialists estimate, that agricultural companies would require USD 8-10 billion just to replace their existing agricultural equipment. Figure 6 Portfolio of leasing companies by types of assets, which are provided for leasing cars trucks other production equipment (except for food processing) passenger vehicles computers food processing equipment agricultural machinery buildings (structures) medical equipment publishing equipment telecommunications equipment planes water and railroad means of transportation p p p UAH 000's Source: STUDY OF THE LEASING MARKET IN UKRAINE Negative influence on the development of the agricultural machines leasing market also comes from the government s actions, aimed at support of agricultural enterprises, because these interventions result in distortions in this market. Interest subsidies for bank loans create unequal conditions for competition in the agricultural finance market for leasing companies. Loan subsidies allow farmers to buy equipment at a reduced interest rate, if the equipment is financed through a bank loan. However, the main impediment for farmers is not the cost of funds, but access to finance. However, since most of the farms, applying for a loan, are refused by the banks due to the lack of collateral, they are not able to attract sufficient formal sources of finance. At the same time, leasing is more flexible compared to the bank loans, and is much more convenient for small businesses. Therefore, government programs, aimed to promote the development of agriculture and agrifinance (such as the partial interest rate compensation and services, provided by Ukragroleasing), fail to reach the small and medium-sized private farmers, for which these programs were originally aimed. In general, this program failed to address the existing reluctance of commercial banks to deal with agricultural enterprises (VERZIJLENBERG, SCHRIJVER, 2008). VONDELING,
10 10 Poster Paper presented at IAMO Forum MARKET NICHES IN THE FIELD OF PROVIDING SERVICES TO THE AGRICULTURAL SECTOR OF UKRAINE Therefore, we may conclude, that financially sustainable institutions (especially the banks) are reluctant to finance agricultural sector, especially the important group of commercial farmers with the size between 50 to 2,000 ha. However, for these individual farms in Ukraine, the share of land used amounts to more than 41%, while the share in total agriculture production is estimated to be more than 69 % (VERZIJLENBERG, VONDELING, SCHRIJVER, 2008). Furthermore, there are interesting results of the study of efficiency of agricultural enterprises in the Sumy Oblast based on DEA-analysis (fig. 7). According to this analysis, small enterprises (with area up to 5000 hectares) the most efficient (based on resource allocation). Figure 7 Distribution of efficient agricultural enterprises by their size (area of agricultural land) efficiency scale, % 1400% big 1300% 1200% 1100% 1000% 900% 800% 700% 600% 500% 400% 300% 200% 100% 0% land, ha 000's efficiency line When developing this model, we analyzed the results of 377 agricultural enterprises (approximately 100%) from all 18 districts of the Sumy Oblast. In order to analyze efficiency, we used enterprises statements for the year of 2006, provided by the Department of Statistics of the Sumy Oblast. When calculating efficiency scales, we used data regarding production of 12 types of products (y km, m = 1, 12): grain and grain legumes, sunflower, soybeans, sugar beets, other crops, pork, beef, milk, other products of animal farming. According to our research, the efficiency level may be partially explained by the influence of such factor as the size of the enterprise. For example, in 55% of efficient enterprises the area
11 Value Chain Approach to Rural Finance 11 of agricultural lands does not exceed 1000 hectares. Area, used by 75% of efficient enterprises, does not exceed 2000 hectares. Only 8% of efficient enterprises have total land area of more than 3000 hectares. This trend may be explained by the fact that we do not measure the efficiency of agricultural enterprises be means of input-oriented DEA model, that is from the point of view of optimal allocation of resources (how much can we decrease the use of production factors, leaving the production result unchanged). However, use of resources in small enterprises is always more efficient compared to the allocation of resources, which is common for large enterprises. That s why, each currency unit, which works in small business, will have higher return compared to large enterprises. However, this also witnesses on the ability of small agricultural producers to a higher price for financial resources, because they obtain higher return from the loan. It means that the price of financial resources may partially cover the costs, related to increased risk or high transaction costs. And in contrast to the general opinion, farmers and rural households are ready to pay even high interest rates for the access to finance. For example, in order to obtain loan without collateral, a typical rural entrepreneur pays to the bank 24-36% of annual interest rate. Annual interest rates for collateralized loans are somewhat lower 16-17%. CONCLUSIONS Therefore, we see, that bank institutions, leasing companies and formal financial sector increasingly cooperate with large agricultural producers, processors and global retailers. Small agricultural producers depend, mainly, on government s financial support and informal finance. Conditions in rural areas help to explain the gap in rural financial services. Providing services to small agricultural entrepreneurs typically faces high transaction costs. Information, necessary to assess a borrower s ability and willingness to repay a loan, is difficult and expensive to obtain. Collateral is more limited, often less documented, and more difficult to liquidate, increasing provisioning and foreclosure costs for financial institutions. Financial institutions, that historically blurred the distinction between grants and loans, have helped to create a credit culture, in which rural residents may be less willing to repay their loans. Agricultural finance creates an additional set of costs and risks, from its seasonality and requirements for longer terms, to the fact that many borrowers will face the same production and price risks.
12 12 Poster Paper presented at IAMO Forum 2008 Moreover, with regard to the development of both agricultural sector, as well as the agrifinance sector, the role of the government is regarded rather ambiguous. On the one hand, the Ukrainian government has initiated a number initiatives, aimed to spur the development of both the agricultural sector and agri-finance sector. On other hand, unpredictable government interference and its failure to solve some major impediments are perceived to hamper the development of both sectors. REFERENCES BONDARENKO, A., KOSODIY, R., MISHENIN, Y. (2007). Development of Innovative Technologies in Rural Finance, Sustainable Rural Development: What is the Role of the Agri- Food Sector? / Editors: Martin Petrick and Gertrud Buchenrieder. Institute of Agricultural Development in Central and Eastern Europe (IAMO), Halle (Saale), Germany, p FRIES, R., AKIN, B. (2004). Value Chains and Their Significance for Addressing the Rural Finance Challenge, Accelerated Microenterprise Advancement Project, Microreport No. 20, р. 1-4 JANSEN, A. (2006). Value chain finance: Financing to and within value chains, USAID // VERZIJLENBERG, W., VONDELING, W., SCHRIJVER, B. (2008). Ukraine Rural Finance Study, Final Report for: Ukraine Agri-Finance Study (UAFS): Analysis of the potential, risks and challenges of agricultural finance in Ukraine, RIAS BV, p EXPRESS RESULTS OF STUDYING THE UKRAINIAN LEASING MARKET 2007, Leasing in Ukraine, No. 3, р. 1-5, MACHINERY IN AGRICULTURE (prepeared by Analytical and Consulting Center of UNDP), Leasing in Ukraine, No. 2, р. 6-9, 2007.
RURAL AND AGRICULTURE FINANCE Prof. Puneetha Palakurthi School of Community Economic Development Sothern New Hampshire University
RURAL AND AGRICULTURE FINANCE Prof. Puneetha Palakurthi School of Community Economic Development Sothern New Hampshire University DRIVERS OF RURAL DEVELOPMENT High overall economic growth Effective land
More informationIFC and Agri-Finance. Creating Opportunity Where It s Needed Most
IFC and Creating Opportunity Where It s Needed Most Agriculture remains an important activity in emerging markets IMPORTANCE OF AGRICULTURE as major source of livelihood 75% of poor people in developing
More informationACCESS TO FINANCE FOR AGRICULTURAL ENTERPRISES. Presented by Farouk Kurawa Agricultural Finance Specialist, USAID MARKETS II
ACCESS TO FINANCE FOR AGRICULTURAL ENTERPRISES Presented by Farouk Kurawa Agricultural Finance Specialist, USAID MARKETS II AGRICULTURE IN NIGERIA It is a wide spread activity practiced across all regions
More informationBuilding Agribusiness Risk Management System: Strategy and Stages of Development
Building Agribusiness Risk Management System: Strategy and Stages of Development Roman Shynkarenko Agricultural Insurance and Risk Management Consultant Most Ukrainian experts in agricultural risks insurance
More informationTHE ROLE OF VET IN FACILITATING DEVELOPMENT OF AGRICULTURAL SECTOR IN TANZANIA
THE ROLE OF VET IN FACILITATING DEVELOPMENT OF AGRICULTURAL SECTOR IN TANZANIA Abstract Agriculture industry is the foundation of Tanzanian economy. It accounts for about half of the national income, three
More informationCredit Lectures 26 and 27
Lectures 26 and 27 24 and 29 April 2014 Operation of the Market may not function smoothly 1. Costly/impossible to monitor exactly what s done with loan. Consumption? Production? Risky investment? Involuntary
More informationTHE AGRICULTURAL EQUIPMENT MARKET IN CE, SE AND EASTERN EUROPE
THE AGRICULTURAL EQUIPMENT MARKET ROMANIA UKRAINE TURKEY RUSSIA IN CE, SE AND EASTERN EUROPE Romania In 211, Romania recorded one of the highest wheat production in the recent years, of some eight million
More informationMitigation of Investment Risk
1of 37 F A O P o l i c y L e a r n i n g P r o g r a m m e Module 3: Investment and Resource Mobilization Mitigation of Investment Risk 2of 38 Mitigation of Investment Risk By Calvin Miller, Senior Officer,
More informationBanque Populaire du Rwanda Ltd Financing of Agricultural Cooperatives. Financing Agriculture Forum 2012. 28-30, March 2012 Kampala, Uganda
Banque Populaire du Rwanda Ltd Financing of Agricultural Cooperatives Financing Agriculture Forum 2012 28-30, March 2012 Kampala, Uganda About BPR A bank that finds its origin from an association of rural
More informationValue Chain Financing, Warehouse Receipt Financing/Collateral Management, and Equipment Financing. Lessons from AgriFin Study Tour in India
Value Chain Financing, Warehouse Receipt Financing/Collateral Management, and Equipment Financing Lessons from AgriFin Study Tour in India January 2016 Introduction AgriFin Study Tours are organized to
More informationSpecifics of national debt management and its consequences for the Ukrainian economy
Anatoliy Yepifanov (Ukraine), Vyacheslav Plastun (Ukraine) Specifics of national debt management and its consequences for the Ukrainian economy Abstract This article is about the specifics of the national
More informationSCALING UP AGRICULTURAL FINANCE
SCALING UP AGRICULTURAL FINANCE Can Small Scale farmers be financed on commercial basis by a Financial Institution? The Case of KCB BANK RWANDA LTD Presentation profile 1. Rwanda s Agricultural scene 2.
More informationUKRAINE COMMODITY FUTURES MARKET DEVELOPMENT SURVEY AND ROADMAP RECOMMENDATIONS. June 18, 2015
UKRAINE COMMODITY FUTURES MARKET DEVELOPMENT SURVEY AND ROADMAP RECOMMENDATIONS June 18, 2015 Breakdown of Participants Segment Number Agri-producers 821 Grain processors 51 Oil seed processors 10 Cattle
More informationSECTOR ASSESSMENT (SUMMARY): MICRO, SMALL AND MEDIUM-SIZED ENTERPRISE DEVELOPMENT 1 Sector Road Map 1. Sector Performance, Problems, and Opportunities
Small Business and Entrepreneurship Development Project (RRP UZB 42007-014) SECTOR ASSESSMENT (SUMMARY): MICRO, SMALL AND MEDIUM-SIZED ENTERPRISE DEVELOPMENT 1 Sector Road Map 1. Sector Performance, Problems,
More informationMAKING SUSTAINABLE AGRICULTURE HAPPEN
MAKING SUSTAINABLE AGRICULTURE HAPPEN A bank s relationship with the farmer has evolved beyond just the offering of finance; it now entails the provision of holistic solutions for everyday and seasonal
More informationHow To Finance A Value Chain
Using the Value Chain in Financing Agriculture Rural and Agricultural Finance Conference Marrakech, Morocco Calvin Miller FAO Agribusiness and Finance Senior Officer Rome, Italy Presentation Applying Agri
More informationKazan Federal University
Kazan Federal University The Russian agricultural sector and WTO: advantages and disadvantages Doctor of Economic Sciences, Head of the Banking Chair Vagizova Venera Doctor of Economic Sciences Labedeva
More informationInvestment in agricultural mechanization in Africa
Investment in agricultural mechanization in Africa Executive summary Conclusions and recommendations of a Round Table Meeting of Experts Co-organized by: Food and Agriculture Organization of the United
More informationmicronote #23 Leasing: A Potential Solution for SME Expansion and Rural Financial Sector Deepening
micronote #23 Leasing: A Potential Solution for SME Expansion and Rural Financial Sector Deepening A Case Study of Russia An animal fodder production company leases equipment (photo above) outside Krasnodar,
More informationAgricultural Production and Research in Heilongjiang Province, China. Jiang Enchen. Professor, Department of Agricultural Engineering, Northeast
1 Agricultural Production and Research in Heilongjiang Province, China Jiang Enchen Professor, Department of Agricultural Engineering, Northeast Agricultural University, Harbin, China. Post code: 150030
More informationHow To Help A Leasing Enterprise
i FS Series #7: Enhancing the Leasing Enabling Environment FS SERIES #7: ENHANCING THE LEASING ENABLING ENVIRONMENT MODEL SCOPE OF WORK The author s views expressed in this publication do not necessarily
More informationLiberia Leasing Investment Forum
Finance Leasing in Liberia: Unlocking Accelerated Market and Business Development Adopting Best Practice Models to Make Leasing Work in Liberia Minerva Kotei Monrovia, A 40 Year Commitment to Leasing A
More informationUNCTAD Expert Meeting. "Enabling small commodity producers in developing countries to reach global markets"
UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT UNCTAD Expert Meeting "Enabling small commodity producers in developing countries to reach global markets" Organized by UNCTAD Commodities Branch Email:
More informationMicrofinance Expert, CEO of YOSEFO Finance Chairman of the Board of Directors of Mbinga Community Bank
A CLKnet FORUM PRESENTATION BY ALTEMIUS MILLINGA Microfinance Expert, CEO of YOSEFO Finance Chairman of the Board of Directors of Mbinga Community Bank 11 th April, 2012 1 Tanzania s Financial Sector Landscape
More informationPURCHASE ORDER FINANCE IN BOLIVIA
PURCHASE ORDER FINANCE IN BOLIVIA INNOVATIONS IN FINANCING VALUE CHAINS microreport #151 APRIL 2009 This publication was produced for review by the United States Agency for International Development. It
More informationMissouri Soybean Economic Impact Report
Missouri Soybean Economic Report State Analysis March 2014 The following soybean economic impact values were estimated by Value Ag, LLC, as part of a Missouri Soybean Merchandising Council funded project.
More informationENTERPRISE DEVELOPMENT STRATEGY Small- and Medium-Sized Enterprises. I. Introduction
ENTERPRISE DEVELOPMENT STRATEGY Small- and Medium-Sized Enterprises I. Introduction I.1 Current Challenge: Most countries in the region are undergoing reforms that are opening their economies to greater
More informationDeveloping Kenya s Mortgage Market
Developing Kenya s Mortgage Market Simon Walley Senior Housing Finance Specialist World Bank 17 February, 2011 - Nairobi Outline Rationale for developing the mortgage market Mortgage Market Summary Housing
More informationRESTRUCTURING STUDY. International 2012. Sovereign debt crisis Effects on financing and the real economy
RESTRUCTURING STUDY International 2012 Sovereign debt crisis Effects on financing and the real economy Düsseldorf, September 2012 2 Contents Page A. Goal and methodology 4 B. Summary in brief 7 C. Key
More informationLoan Capital Formation Strategy of Companies I.D. Anikina*
Abstract Loan Capital Formation Strategy of Companies I.D. Anikina* Defines of principles, goals, objectives, stages and factors of loan capital companies. Analyzed the main methods of forming loan capital
More informationINVESTMENT STRATEGY OF AGRARIAN SECTOR
УДК 330.322:631 Gutkevych S., Doctor of Economics, Professor, Head of Department of International Economy, National University of Food Technologies, Kyiv Zavadskyh A., Candidate of Economics, Associate
More informationSection A Introduction This section asks for information that aims to identify the independence and ownership situation of your business.
Access to Finance Purpose of this survey Access to finance is crucial to business success and an important factor for economic growth in Europe following the economic crisis in 2007. The purpose of this
More informationBIODIESEL THE NEW FUEL FROM BRAZIL NATIONAL BIODIESEL PRODUCTION & USE PROGRAM
BIODIESEL THE NEW FUEL FROM BRAZIL NATIONAL BIODIESEL PRODUCTION & USE PROGRAM BIODIESEL: THE NEW FUEL FROM BRAZIL The Brazilian Government has just authorized the commercial use of a new fuel. Brazil
More informationThird Quarter 2015 Earnings Conference Call. 21 August 2015
Third Quarter 2015 Earnings Conference Call 21 August 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the
More informationQ&A for Small Business Owners
Q&A for Small Business Owners What did the Obama Administration announce today? The Treasury Department will commit up to $15 billion to help unlock the secondary markets for small business loans. By purchasing
More informationOLR RESEARCH REPORT ANALYSIS OF STATE SMALL BUSINESS LOAN GUARANTEE PROGRAMS. By: Michelle Kirby, Associate Analyst
OLR RESEARCH REPORT February 19, 2013 2013-R-0054 ANALYSIS OF STATE SMALL BUSINESS LOAN GUARANTEE PROGRAMS By: Michelle Kirby, Associate Analyst You asked for an analysis of state small business loan guarantee
More informationKSG Agro S.A. Unaudited Interim Condensed Consolidated Financial Statements. 31 March 2015
Unaudited Interim Condensed Consolidated Financial Statements Contents Statement of the Board of Directors and management s responsibility INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Unaudited
More informationFood Commodity Trade The Need for a Regional Approach to Stimulate Agricultural Growth and Enhance Food Security
Food Commodity Trade The Need for a Regional Approach to Stimulate Agricultural Growth and Enhance Food Security Introduction Economic growth and poverty reduction can only be achieved by developing the
More informationROLE OF THE BANKING SECTOR IN PROMOTING GROWTH & DEVELOPMENT OF SMALL AND MEDIUM ENTERPRISES ADDRESS DR. C. L. DHLIWAYO ACTING GOVERNOR MARCH 2014
ROLE OF THE BANKING SECTOR IN PROMOTING GROWTH & DEVELOPMENT OF SMALL AND MEDIUM ENTERPRISES ADDRESS BY DR. C. L. DHLIWAYO ACTING GOVERNOR AT THE 2 ND SME BANKING & MICROFINANCE SUMMIT 2014 MARCH 2014
More informationExport Import Bank Financing Programs
Export Import Bank Financing Programs The Export Import Bank of the United States (Ex Im Bank) is the official export credit agency of the United States. Ex Im Bank assists in financing the export of U.S.
More informationHow much financing will your farm business
Twelve Steps to Ag Decision Maker Cash Flow Budgeting File C3-15 How much financing will your farm business require this year? When will money be needed and from where will it come? A little advance planning
More informationAgricultural Policy Dialogue Series # 8 Agricultural Finance & Investment in Iraq
Agricultural Policy Dialogue Series # 8 Agricultural Finance & Investment in Iraq January, 2011 This publication was produced for review by the United States Agency for International Development. It was
More informationCHAPTER 2 AGRICULTURAL INSURANCE: A BACKGROUND 9
CHAPTER 2 AGRICULTURAL INSURANCE: A BACKGROUND 9 Chapter 2: AGRICULTURAL INSURANCE: A BACKGROUND In Chapter 1 we saw that insurance is one of the tools that farmers and other stakeholders can use to manage
More informationCOTTON DEBT RESOLUTION SCHEME. Dushanbe June 2,2007
COTTON DEBT RESOLUTION SCHEME Dushanbe June 2,2007 Cotton Debt Resolution Scheme: current situation About 70% of the population resides in rural areas 45% of irrigated arable land is used for cotton production
More informationValue chain activities and finance challenges. By Folusho Olaniyan (fcim) MD/CEO UTC Nigeria Plc November 2012 EMRC Agribusiness Forum
Value chain activities and finance challenges By Folusho Olaniyan (fcim) MD/CEO UTC Nigeria Plc November 2012 EMRC Agribusiness Forum Key messages of today s discussion Each segment in the value chain
More informationTHE LOAN RENEWAL SEASON: YOUR LENDER S CONCERNS. Michael Boehlje Department of Agricultural Economics Purdue University
THE LOAN RENEWAL SEASON: YOUR LENDER S CONCERNS Michael Boehlje Department of Agricultural Economics Purdue University Now that harvest is over, farmers are planning for next year s planting season. Lining
More informationII. Small Farmer Loans and Investment in Agricultural Enterprises
II. Small Farmer Loans and Investment in Agricultural Enterprises Background and Aid Strategy To enhance the effectiveness of the ROC s current overseas agricultural cooperation projects, the ICDF has
More informationUSDA RURAL DEVELOPMENT
Leroy J. Debes of U.S. Department of Agriculture - Rural Development Business and Economic Development Loans -- Loan Guarantees -- Grants LeRoy J. Debes, Area Specialist 509-924-7350 Ext. 115 leroy.debes@wa.usda.gov
More informationChart 9.1 Non-performing loans ratio and structure of non-performing loans (right) 25% 80 06/08 03/11 03/09 12/07 12/08 06/09 09/09 12/09 09/08 06/11
Financial Stability Report 21 H1 9. MONITORING BANKING SECTOR RISKS 9.1 CREDIT RISK (88) Loan portfolio quality improved and banks were more active in writingoff the loss loans from their balance sheets.
More informationLIST OF MAJOR LEADING & LAGGING ECONOMIC INDICATORS
APRIL 2014 LIST OF MAJOR LEADING & LAGGING ECONOMIC INDICATORS Most economists talk about where the economy is headed it s what they do. Paying attention to economic indicators can give you an idea of
More informationD. Sarkar and R. C. Mondal
Study No.168 Impact of emerging marketing channels in agricultural marketing: Benefit to producer-seller and marketing costs and margins of agricultural commodities A study in West Bengal Executive Summary
More informationAL 98-9 Subject: Access to Financing for Minority Small Businesses Date: July 15, 1998
AL 98-9 Subject: Access to Financing for Minority Small Businesses Date: July 15, 1998 TO: Chief Executive Officers of all National Banks, Department and Division Heads, and all Examining Personnel PURPOSE
More informationQuarterly Credit Conditions Survey Report
Quarterly Credit Conditions Survey Report Contents March 2014 Quarter Prepared by the Monetary Analysis & Programming Department Research & Economic Programming Division List of Tables and Charts 2 Background
More informationAsia Pacific Trade Facilitation Forum 2014. 24 25 September 2014, BITEC Bangkok, Thailand
Asia Pacific Trade Facilitation Forum 2014 24 25 September 2014, BITEC Bangkok, Thailand Innovative trade financing initiatives for SMEs Asia Pacific Trade Facilitation Forum September 2014, Bangkok, Thailand
More informationMonetary policy in Russia: Recent challenges and changes
Monetary policy in Russia: Recent challenges and changes Central Bank of the Russian Federation (Bank of Russia) Abstract Increasing trade and financial flows between the world s countries has been a double-edged
More informationOctober 26, 2001. Action Plans
Action Plans October 26, 2001 Division/Branch: Agricultural Loan Program Objective: To promote the agricultural and aquacultural development of the State by stimulating, facilitating, and granting loans
More informationSECTOR ASSESSMENT (SUMMARY): MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISE DEVELOPMENT
Women s Entrepreneurship Support Sector Development Program (RRP ARM 45230) SECTOR ASSESSMENT (SUMMARY): MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISE DEVELOPMENT A. Overview 1. Significance of micro, small,
More informationRaise the anchor. FEATURE 4 March 2015. One of the most reliable growth stimuli for SMEs is value chain financing.
Raise the anchor FEATURE 4 March 2015 One of the most reliable growth stimuli for SMEs is value chain financing. Qamar Saleem, Martin Hommes and Aksinya Sorokina explain how this works and why it is good
More informationSMALLHOLDERS FARMERS FINANCING : CHALLENGES & OPPORTUNITIES
SMALLHOLDERS FARMERS FINANCING : CHALLENGES & OPPORTUNITIES Presented By: FINBANK BURUNDI Page 1 Outline Burundi Coffee Sector: Key Fact Sheet Coffee Value Chain From the seed to the cup Bank Coffee Value
More informationIFC S INVOLVEMENT IN COFFEE A PRESENTATION TO THE ICO LONDON, SEPTEMBER 2014
IFC S INVOLVEMENT IN COFFEE A PRESENTATION TO THE ICO LONDON, SEPTEMBER 2014 1 IFC CREATES OPPORTUNITY AND IMPROVES LIVES BY PROMOTING PRIVATE SECTOR DEVELOPMENT IN EMERGING MARKETS IFC: established in
More informationCrop diversification as a climate risk mitigation strategy: Farm-level evidence from Uzbekistan. Martin Petrick, Nodir Djanibekov
Crop diversification as a climate risk mitigation strategy: Farm-level evidence from Uzbekistan Martin Petrick, Nodir Djanibekov Presentation delivered at IAMO Forum 2015 Halle (Saale), June 17, 2015 Current
More informationFirst Quarter 2015 Earnings Conference Call. 20 February 2015
First Quarter 2015 Earnings Conference Call 20 February 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning
More informationInclusive Model for Agribusiness Development. October 2011
Inclusive Model for Agribusiness Development October 2011 Prevailing Agribusiness Environment Weak economic governance Absence of a coherent agricultural development strategy Lack of investment in agriculture
More informationUNNExT workshop on Paperless trade facilitation for Small and Medium-sized Enterprises
UNNExT workshop on Paperless trade facilitation for Small and Medium-sized Enterprises 2-4 February 2015 United Nations Conference Center (UNCC) Bangkok, Thailand Innovative financing and ITC solutions
More informationCHALLENGES AND OPPORTUNITIES OF FINANCING A START-UP
CHALLENGES AND OPPORTUNITIES OF FINANCING A START-UP Victoria Kisyombe (Dr.) Founder and Managing Director of SELFINA Youth Business Linkages Forum 21-23 August 2014, AU/UNDP 1.0 INTRODUCTION Many of us
More informationI. Introduction. II. Financial Markets (Direct Finance) A. How the Financial Market Works. B. The Debt Market (Bond Market)
University of California, Merced EC 121-Money and Banking Chapter 2 Lecture otes Professor Jason Lee I. Introduction In economics, investment is defined as an increase in the capital stock. This is important
More informationChapter 3 - Selecting Investments in a Global Market
Chapter 3 - Selecting Investments in a Global Market Questions to be answered: Why should investors have a global perspective regarding their investments? What has happened to the relative size of U.S.
More informationOverview Presentation
213 Overview Presentation OTP Group OTP Bank is the largest retail bank in Hungary and one of the largest financial groups in Central and Eastern Europe OTP Bank provides high quality financial solutions
More informationMSME & Asset Based Finance
MSME & Asset Based Finance Creating Jobs & Competitiveness Through Finance 5 th Regional Competitiveness Event Sarajevo USAID RCI PFS Michael Gold, Managing Director, Crimson Capital May 19, 2010 Background
More informationStudy on Financing Growth Capital for SMEs
Study on Financing Growth Capital for SMEs Remarks by Marion G. Wrobel Vice-President, Policy and Operations Canadian Bankers Association for The Standing Senate Committee on Banking Trade and Commerce
More informationFarmer field school networks in Western Kenya
Chain empowerment Farmer field school networks in Western Kenya Small-scale farmers in Western Kenya produce mainly for their own use, and tend to sell any surplus quite close to home often less than 30
More informationFINANCING OF AGRICULTURE BY COMMERCIAL BANKS PROBLEMS FACED BY FARMERS (An Empirical Study)
FINANCING OF AGRICULTURE BY COMMERCIAL BANKS PROBLEMS FACED BY FARMERS (An Empirical Study) Dr. Kewal Kumar 1 and Atul Gambhir 2 1 Principal, Institute of Management and Technology, Kashipur, Uttarakhand
More informationThe big Small and Medium story - A commentary on SME Financing
The big Small and Medium story - A commentary on SME Financing Mr. Rakesh Singh CEO Limited Key Fundamentals update Developments since Mar 14 Apr Dec 13 Nov 14 New Government Equity Fed tapering / US Recovery
More informationEastern Africa, bordering the Indian Ocean between Kenya and Mozambique
THE COUNTRY IN BRIEF COUNTRY: LOCATION: HUMAN POPULATION: Tanzania Eastern Africa, bordering the Indian Ocean between Kenya and Mozambique 50 Million PER CAPITA INCOME: USD 912 LIVESTOCK CONTRIBUTION TO
More informationChapter Sources of Short-Term Financing
Chapter Sources of Short-Term Financing Chapter 8 - Outline PPT 8-2 Sources of Short-Term Financing Trade Credit from Suppliers Net Credit Position Chartered Banks in Canada Types of Short-term Loans Interest
More informationQuarterly Credit Conditions Survey Report
Quarterly Credit Conditions Survey Report Contents List of Charts 2 List of Tables 3 Background 4 Overview 5 Credit Market Conditions 8 Personal Lending 10 Micro Business Lending 13 Small Business Lending
More informationThe 2024 prospects for EU agricultural markets: drivers and uncertainties. Tassos Haniotis
1. Introduction The 2024 prospects for EU agricultural markets: drivers and uncertainties Tassos Haniotis Director of Economic Analysis, Perspectives and Evaluations; Communication DG Agriculture and Rural
More informationFINANCIAL PRODUCTS FOR FARMERS AND SERVICE PROVIDERS REPORT TANZANIA.
FINANCIAL PRODUCTS FOR FARMERS AND SERVICE PROVIDERS REPORT TANZANIA. Farm Mechanization and Conservation Agriculture for Sustainable Intensification (FACASI). September 2015 i Acronym 2WTs 4WTs SACCOs
More informationLoan guarantee funds. Inclusive rural financial services. Introduction
Loan guarantee funds Inclusive rural financial services Introduction For more than seven decades, loan guarantee funds (LGFs) have been used extensively internationally in different market segments and
More informationAgricultural finance for smallholder farmers: Rethinking traditional microfinance risk and cost management approaches
Agricultural finance for smallholder farmers: Rethinking traditional microfinance risk and cost management approaches With evidence from Uganda, Kenya, Benin and Cameroon Daniela Röttger Luxembourg, 13
More informationIncreasing farm debt amid decreasing interest rates: An explanation
Increasing farm debt amid decreasing interest rates: An explanation Compiled by Economic Research Division DIRECTORATE: ECONOMIC SERVICES December 2010 agriculture, forestry & fisheries Department: Agriculture,
More informationAGRI- BUSINESS IN ARGENTINA A SEMINAR ON INVESTMENT OPPORTUNITIES
AGRI- BUSINESS IN ARGENTINA A SEMINAR ON INVESTMENT OPPORTUNITIES Maximiliano Moreno Director of Multilateral Negotiations Ministry of Agriculture, Livestock and Fisheries Argentina NEW INTERNATIONAL ENVIRONMENT
More informationHow To Get A Farm Loan In Illinois
A Guide for Federal, State and Regional Loan Incentive and Grant s for Business and Economic PROGRAM TERM RATE FEES 7(a) Loan Guaranty The s primary loan program Business start ups or expansion; construction
More informationTHE MULTILATERAL INVESTMENT FUND DEPLOYING VALUE CHAINS FOR DEVELOPMENT. Nancy Lee General Manager MULTILATERAL INVESTMENT FUND
THE MULTILATERAL INVESTMENT FUND DEPLOYING VALUE CHAINS FOR DEVELOPMENT Nancy Lee General Manager MULTILATERAL INVESTMENT FUND 2. TABLE OF CONTENTS Introduction to the Multilateral Investment Fund Evolution
More informationResidential Mortgage Finance and Housing Markets in Russia February 9, 2004. Britt Gwinner The World Bank
Residential Mortgage Finance and Housing Markets in Russia February 9, 2004 Britt Gwinner The World Bank 1 Overview of Presentation Two Sections: 1. Residential Mortgage Finance Internationally 2. Mortgage
More informationILLINOIS BUSINESS FINANCING MATRIX
A Guide of Federal, State and Regional Loan Incentive and Grant s for Business and Economic TERM RATE FEES 7(a) Loan Guaranty The s primary loan program Business start ups or expansion; construction of
More informationFinancing Capital Requirements
Of the independent growers, a typical one produces about four batches of I o thousand birds a year. His capital assets are about as follows: Land, buildings, and equipment, 30 thousand dollars; feed, 4,500
More informationMachinery and equipment manufacturing in China
Machinery and equipment manufacturing in China Focal point: NBSO Dalian The layout of the global equipment manufacturing industry is changing fast. Production capacity relocates from developed countries
More informationAmerican University of Armenia
American University of Armenia Master Paper Agricultural Lending System & Contracts in the Republic of Armenia Prepared by MCLS 2 nd year student Naira Grigoryan Instructor Emil Babayan 2007, Yerevan,
More informationRole of Government in Agriculture Risk Mitigation & Expansion of Insurance in India
Role of Government in Agriculture Risk Mitigation & Expansion of Insurance in India Kolli N Rao 4 th October 2015 0 OVERVIEW India: The Agriculture Setting India: Agriculture Insurance Architecture Agriculture
More informationErste Group Bank Workshop: Structured Trade Finance in CEE
Erste Group Bank Workshop: Structured Trade Finance in CEE Structured Trade Finance in CEE: Topics to be covered What is Structured Trade Finance Is Structured Trade Finance applicable for the markets
More informationWe have seen in the How
: Examples Using Hedging, Forward Contracting, Crop Insurance, and Revenue Insurance To what extent can hedging, forward contracting, and crop and revenue insurance reduce uncertainty within the year (intrayear)
More informationSECTOR ASSESSMENT (SUMMARY): FINANCE
Microfinance Expansion Project (RRP PNG 44304) Sector Road Map SECTOR ASSESSMENT (SUMMARY): FINANCE 1. Sector Performance, Problems, and Opportunities 1. During 2000 2006, the growth in population in Papua
More informationOpportunities for Financing the Agricultural Sector in Turkey
Opportunities for Financing the Agricultural Sector in Turkey Financing Agriculture in Turkey Conference Istanbul, Turkey 18 April, 2012 Calvin Miller Agribusiness and Finance Group Leader FAO, Rome, Italy
More informationPartnering with you to grow your agribusiness
Partnering with you to grow your agribusiness BUSINESS BANKING Our specialist approach Nedbank AgriBusiness devises and delivers tailored solutions for the agricultural industry. Our empowered regional
More informationPUBLIC POLICY IN FOOD AND AGRICULTURE - Food Security and Government Intervention - Samarendu Mohanty, E. Wesley F. Peterson
FOOD SECURITY AND GOVERNMENT INTERVENTION Samarendu Mohanty Assistant Professor, Department of Agricultural and Applied Economics, Texas Tech University, Lubbock, Texas, USA E. Department of Agricultural
More informationChina and the WTO: Implications for Grain Trade. Dr. Thomas I. Wahl IMPACT Center Washington State University
China and the WTO: Implications for Grain Trade Dr. Thomas I. Wahl Center Washington State University Overview of Presentation Background Why are we interested in China Current trade situation Demographics
More informationAGRICULTURAL SECTOR GROWTH
MAKING AGRICULTURAL SECTOR GROWTH HAPPEN Our specialist approach Nedbank AgriBusiness devises and delivers tailored solutions for the agricultural industry. Our empowered regional teams include agricultural
More informationSmall Farm Modernization & the Quiet Revolution in Asia s Food Supply Chains. Thomas Reardon
Small Farm Modernization & the Quiet Revolution in Asia s Food Supply Chains Thomas Reardon Part 1 of Talk: Introduction to research issues and method 1. Introduction to Research Issues 1. Research past
More informationPreparing Agricultural Financial Statements
Preparing Agricultural Financial Statements Thoroughly understanding your business financial performance is critical for success in today s increasingly competitive agricultural environment. Accurate records
More information