Abstract
This paper aims to map and analyze the main contributions of current researchers on agricultural derivatives through bibliometrics and sociometry techniques. Data for the analysis were collected from the Web of Science (WoS) core collection. The articles were searched using the terms “agricultural derivatives”, “options market”, “futures market” and “swaps market”. From the refinements adopted, 321 articles were used that make up the research sample. For data analysis, VOSviewer software was used. The results demonstrated a range of work by Chinese researchers on agricultural derivatives. It is evident that the search for agricultural derivatives is associated with the process of financing of production, price risk management and marketing mechanisms for agricultural products. We conclude that agricultural derivatives help producers in managing their business, making them safer. Of course, adopting risk management for companies is also essential, whether they are linked to agricultural production, trade, industry, distribution, financial or agribusiness institutions.
Highlights
In Brazil, the derivatives market is relatively recent
Derivative contracts were supplied by the São Paulo Commodity Exchange, which was limited to the spot commodity market
The authors comment that the role of agricultural derivatives markets may have been neglected in the past because of their abstract nature and apparent lack of connection between food production and physical distribution, which is the focus of commodity chain analysis
Summary
In Brazil, the derivatives market is relatively recent. In 1986, the Mercantile and Futures Exchange was founded and the São Paulo Stock Exchange Index contracts were launched. In 1991, the Mercantile and Futures Exchange was merged with the São Paulo Commodities Exchange, resulting in the Commodities and Futures Exchange (BM&F) [1]. Derivative contracts were supplied by the São Paulo Commodity Exchange, which was limited to the spot commodity market. Other institutions began to offer forward, futures and options contracts. B3 (a merger between BM&FBOVESPA and the Private Securities Central Custody and Settlement - CETIP) is the main controlling body of shares and securities traded, and derivative contracts over a broad portfolio options: commodities, assets, rates, and currencies [2]
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