Warehouse Receipt Research Articles

ДЕСТАФАЦІЯ ГРОШЕЙ ТА ПОЯВА ЦИФРОВОЇ ВАЛЮТИ

Банківська справа завжди вирізнялася використанням нових комунікаційних технологій, тому не дивно, що електронні засоби передачі інформації також стали активно використовуватися банками, що привело до появи перших форм електронних грошей, які виникли в результаті застосування таких грошових приладів, як термінали для банківських кредитних карток і системи комп’ютерного зв’язку банків з клієнтами. Утім, з точки зору теорії грошей електронні гроші – це ті самі кредитні, або фіатні, гроші, тільки не в паперовій формі, а у вигляді запису на електронних носіях інформації. Однак після 1980-х років процес зникнення матеріальної форми грошей, або дестафація, набув ще більш інтенсивних темпів і, пройшовши декілька етапів, досягнув моменту появи цифрової валюти, яка є адекватною формою грошей нової цифрової економіки. Сучасні криптовалюти, засновані на технології блокчейну, по суті, являють собою електронне поєднання «складської розписки» та «перевідного векселя» і виступають у якості можливої основи нових глобальних грошей.На особливу увагу заслуговують останні етапи цього процесу, а саме розвиток криптовалют і цифрової валюти центральних банків, які відображають конкурентну боротьбу між державними емісійними інститутами і новими акторами глобальної фінансової системи. У результаті аналізу можна зробити висновок, що процес дестафації грошей наблизився до свого логічного завершення – дереїфікації самих грошей як економічної категорії, адже «штучний інтелект» може дозволити перетворити гроші на абсолютно нематеріальну, тобто ідеальну, форму, що і приведе до збігу їх форми і сутності.

Assessment of the Power Relations among Strategic Actors in the Sesame Value Chain in Tanzania

This study assessed power relations among actors in the sesame value chain in Tanzania. The study employed cross-sectional research design, whereas a sample 58 Agricultural Marketing Cooperative Societies (AMCOS) was randomly drawn through probability sampling techniques. Data were collected using survey questionnaire, focus group discussions and key informants interviews and analysed using descriptive analysis. The study found that AMCOS positively influence power relations among actors in the sesame value chain. Further, the study revealed that capacity of sesame AMCOS in Lindi and Mtwara is low and policy framework guiding the sesame sub-sector is weak, hence paving way to middlemen (chomachoma) dominancy, poor operation of Warehouse Receipt System (WHRS) and low productivity. It was further eminent that demographic factors; age, education, sex, income and non-farm activities are important factors on the performance of actors in the chain. The sub-sector map shows sesame products currently flowing via several alternative supply paths; from farm to various end market consumers in Tanzania and abroad. The data unveiled six primary channels or supply paths operating within the regions. The study concluded that dominance of uncoordinated and unregulated middlemen in the sesame value chain as well as heavy involvement of UNIONS and government in the marketing of sesame is the direct effect of weak support services provided by AMCOS resulting from lack of policy framework to guide the sub-sector. The Study recommends strengthening institutional and technical capacity of the sesame AMCOS and improving policy environment to allow the sub-sector to thrive and benefit its stakeholders, majority of who are resource poor smallholder farmers.

FUNDAMENTALS OF NOVEL ISLAMIC MONETARY SYSTEM FOR THE CONTEMPORARY AGE

Throughout history, monetary systems have repeatedly collapsed, and new systems have emerged to redress the failed flaws. The repercussions of the current monetary system give rise to collapses in modern economic and social life. This study aims to have an Islamic proposition to remedy the flaws of the modern monetary system. The money can be created based on production and work effort in the supply chain starting from a licensed warehousing system. It has been inferred that Electronic warehouse receipts of licensed warehouses can act as an anchor for an Islamic cryptocurrency system that can perform the functions of money readily.

Opportunities and Challenges in the Utilization of Warehouse Receipts for Coffee Farmers in Central Aceh District

This article aims to analyze and explain the opportunities and challenges for coffee farmers in obtaining financing from banks using Warehouse Receipts (RG) as collateral. Capital for coffee production costs is one of the obstacles coffee farmers face in Central Aceh. As one of the Warehouse Receipt System (WRS) commodities, coffee can be used as collateral in the form of Warehouse Receipts issued by the WRS warehouse. It is under the provisions of Law No. 9 of 2009 concerning WRS. This research is empirical juridical research. Data were obtained through interviews with farmers/farmer groups, warehouse managers, and Disperindagkop Central Aceh District. This research found that Central Aceh farmers/farmer groups have an excellent opportunity to get financing with Warehouse Receipts as collateral. It can be seen from the support of the local Government in accelerating the certification process for 3 WRS warehouses during the COVID-19 pandemic. Currently, in Central Aceh, 5 WRS warehouses can accommodate the harvests of farmers/farmer groups. In addition, the existence of farmer groups and cooperatives can also strengthen farmers' opportunities to meet the require-ments for obtaining Warehouse Receipts. However, currently, the implementation of the WRS in Central Aceh is still not running optimally. It can be seen from the use of WRS, which is still very minimal. Of the five available WRS warehouses, only two have issued Warehouse Receipts, namely 110 SRG warehouses owned by the Government and PT. 3. In addition, currently, WRS is only used by entrepreneurs/cooperateves/ex-porters, while farmers/farmer groups have not yet utilized it. Until now, farmers/farmer groups still use the mechanism of selling coffee directly to collectors, which harms them in certain circumstances. The farmers do not use this WRS to obtain financing from the bank or delay selling. Another obstacle is related to the implementation of the Qanun on Sharia Financial Institutions in Aceh.

Warehouse Receipt System Policy for Aceh’s Gayo Coffee Farmers during COVID-19: An Overview of Maqāṣid Sharia

This study aims to describe three discussion topics about the importance of the coffee commodity for the Gayo community, the impact of COVID-19 on Gayo coffee farmers, and to analyse the policies implemented by the government in minimizing the losses of farmers affected by COVID-19 in the framework of maqāṣid sharia. This type of research is qualitative, with data methods through in-depth literature reviews of primary and secondary sources of previous scientific research, government agency reports and online media. The results showed that Gayo coffee has made a major contribution to food security, but since Covid-19 it has implications for coffee price fluctuations which have an impact on decreasing people’s income. Therefore, the government issued a Warehouse Receipt System policy, with the aim that Gayo coffee farmers could use warehouse receipts to obtain financing facilities from banks in financing food security and coffee production needs. The policy taken by the government in minimizing the risk of loss for Gayo coffee farmers is a manifestation of the value of the maqāṣid sharia values in maintaining self-preservation (ḥifẓ nafs) and preserving property (ḥifẓ Mal) so that they can continue to survive in order to maintain welfare even during the pandemic. This effort can also be used to strengthen the Gayo coffee production chain because in addition to obtaining financing to meet production needs, it can also be used to meet food during a crisis.

Electronic warehouse receipts transactions and incentives of Turkey

Electronic warehouse receipts transactions and incentives of Turkey

A Tripartite Game-Theory-Based Cooperation Mechanism for the Electronic Warehouse Receipt Pledge Financing Mode

To explore the electronic warehouse receipt pledge financing cooperation mechanism in the alliance formed between loan enterprises, commercial banks, e-commerce platforms, and logistics enterprises, by constructing a tripartite evolutionary game model, the game equilibrium strategy is then obtained, and the influencing factors of the cooperation mechanism are further simulated. It was found that in this tripartite evolutionary game, the stable strategy combination occurs when the loan enterprise chooses to repay on time, the platform alliance chooses to provide services, and the commercial bank chooses to continue to cooperate. However, heterogeneity exists in the influencing factors for the three-party selection strategy in the game, which is manifested in the fact that the higher the realization rate of the pledge, the more evolution is required in the selection strategy for loan enterprises to continue cooperating. The higher the information service fee, the higher the enthusiasm of the platform alliance in choosing to provide services. Credit levels, loan interest rates, and pledge realization rates are all important factors that affect the choice strategy of commercial banks.

Warehouse Receipt Financing for Farmers: Challenges and Way Ahead

Warehouse Receipt Financing for Farmers: Challenges and Way Ahead

Optimization of corn commodity Warehouse Receipt System (WRS) in South Sulawesi based on system dynamics

The purpose of this research is to study various factors that influence farmers in using the warehouse receipt system (WRS) and to apply the warehouse receipt system policy scenario in South Sulawesi. The method used is a dynamic system. The simulation results of the actual model type are that the income obtained from the actual (existing) model using WRS is higher than the direct income (selling corn directly) without entering the warehouse (WRS), as well as real income (where 100% of the corn that is produced) entered the warehouse immediately sold at the time without any delay in selling). The ideal type of warehouse receipt system shows the result that there is a difference in income (lost profit/benefit loss) if it does not optimize the existence of the warehouse, in other words, the average annual loss of income is 113.5 billion. The model shows that by delaying the sale, the profit difference (difference in income) is obtained from 38.35 billion to 189.77 billion or an average of 113.5 billion per year. The scenario model was developed with the consideration of optimizing the ideal model, namely optimizing the difference in income obtained from selling delays of 30% with a strategy of increasing agricultural productivity through increasing farmer productivity, which can be done in various ways such as training, socialization, education, institutional Warehouse receipt systems must carry out changes to increase productivity and performance in the field, build strong stakeholder support between local and central government

Strategi Peningkatan Tata Kelola Sistem Resi Gudang di Kabupaten Lombok Barat

Warehouse receipt system (SRG) is a solution prepared by the government to overcome the financing constraints faced by farmers in obtaining financing or capital assistance. However, this program not widely used by farmer. The aimed of this research was to recommend strategies for improving SRG governance in West Lombok Regency. This research was conducted in West Lombok Regency with the consideration that there is a warehouse managed by PT Pertani (Persero) which is registered as an institution in the Warehouse Receipt System. This study uses secondary data and primary data. Secondary data were obtained from literature studies. Meanwhile, primary data obtained from direct observation, in-depth interviews and by using a questionnaire with experts. The data in this study were analyzed using descriptive analysis and pairwise comparison with the Analytic Hierarchy Process (AHP). The results of this study indicate that to improve SRG governance in West Lombok Regency, the government must focus on recruiting warehouse managers who are professional and have strong entrepreneurial characteristics.

Opportunities and challenges of implementing the legal policy of the warehouse recipe system in improving farmers welfare and food security

Aim: A common agricultural problem in Indonesia is falling prices during the main harvest season. Farmers could not retain their crops any further due to a lack of funds and insufficient storage facilities. This condition is usually exploited by middlemen and loan sharks to make a big profit. The application of warehouse receipts to improve farmer welfare as a marketing model for agricultural commodities is a new innovative term that this study introduces and explores its impact on farmers’ welfare and food security.Methodology: The investigation technique applied was judicial decisions study, supplemented with field conducting advice, by conducting a literature study examining various literature, laws, and regulations. The research team has also carried out field research by conducting in-depth interviews. Researchers are divided into two targets for field research, namely informants from government circles and informants from the community.Findings: Results revealed that juridical the SRG policy made by the government with the aim of the welfare of farmers had provided legal protection for farmers, both in terms of guarantees in banking institutions, other financial institutions, and legal protection for farmers who use the warehouse receipt system, both for disbursing bank loans with guarantees. Warehouse receipts and security in the form of invoices raised can be transferred; Second, in practice, the government policy still faces obstacles in its implementation. The factors that become obstacles include: (1) an unawareness among farmers about the availability of warehouse receipts. (2) The numbers of intermediaries who use warehouse receipts, causing the warehousing receipts to be inaccurate. (3) There are banking concerns about the reduced value of assets in implementing warehouse receipts as collateral; the internal banking regulations constrain this.Implications/Novel Contribution: This article examines the recent innovations and the advantages and difficulties that they present. Its primary focus is on foodstuff logistical, including cost control, material handling, shipping, forecasting, and warehousing receipts. Banks prefer fixed assets or real and fixed assets, and if possible, the value can increase or increase in the next few years. We need intervention from the central and local governments that provide a sense of security for banks in providing credit using warehouse receipt guarantees to improve the farmer’s welfare.

Dynamic System Model of Receipt System (SRG) Grain Commodities in South Sulawesi

This research aims to determine the warehouse receipt system policy strategy partially and globally that occurs between the ideal and actual types in the field of seaweed receipt system (SRG) in South Sulawesi. Using dynamic systems. The study aims to illustrate the ideal type of SRG, illustrate facts and realities in the field, analyze the SRG gap in South Sulawesi (ideal type and facts in the field), and SRG gap scenario both globally and partially. Held in August 2019- August 2021. The research was conducted in 3 regencies in South Sulawesi, including Gowa Regency, and East Luwuk Regency. The results showed that the income obtained from the actual (existing) model using SRG is higher than direct income (selling grain directly) without entering the warehouse (SRG), as well as real income (where 100% of grain entering the warehouse is directly sold at a time without delaying sale). The results showed that there is a difference in revenue earned (lost profit / benefit loss) if it does not optimize the existence of warehouses, in other words that the average revenue loss per year is 177.64 billion. The model shows that by delaying sales, there is a difference in profit (difference in revenue) of 36 billion to 320 billion or an average of 177.64 billion per year. The scenario model was developed with the ideal model optimization considerations, namely optimizing the difference in income obtained from the 30% delay in selling with strategies to increase agricultural productivity through increasing farmer productivity, obtaining reliable price information, adequate storage space, efficient quality testing procedures, multi-layer intermediaries, absence of hidden costs, and transportation costs of conducting training and socialization of training / training or field schools about Warehouse Receipt Systems. It appears that grain production is increasing very well. It appears that production in 2021 increased by 2,275.13 tons or up about 0.56% from the previous year. This condition indicates that the well-developed scenario model provides significant improvement.

Impact of agricultural finance on technology adoption, agricultural productivity and rural household economic wellbeing in Ghana: a case study of rice farmers in Shai-Osudoku District

ABSTRACT This study uses focus group discussion, key informant interview, and quantitative household survey to explore how smallholders access credits and loans influence adoption of modern production technologies and what are perceived limitations to access these financial instruments in the Shia-Osuduku District in the Greater Accra Region of Ghana. The specific objectives of the study are; (1) to assess the challenges rice farmers face in accessing finance, (2) to determine if access to finance impacts the adoption of modern rice production technologies and (3) to determine whether loan investments in improved technologies increase productivity and income levels of farmers. The study noted that issues of mistrust for smallholder farmers by financial institutions act as barriers to facilitating their access to loans and credits. Banks and financial institutions relay their mistrust through actions such as requesting outrageous collateral, guarantors, a high sum of savings capital, and a high-interest rate for agriculture loans, delays, and bureaucratic processes in accessing loans. The study suggested that enabling policy environment and frameworks with a supportive rural infrastructure such as warehouse receipt systems can significantly increase farmers’ access to credit instruments for investment in modern technologies to increase agricultural productivity, which is essential to address issues of food insecurities and rural poverty in Ghana.

The Implementation of Flexibility Strategy on Agricultural Commodity Financing With Warehouse Receipt System

The implementation of warehouse receipt financing system for agriculture commodities has not been successfully developed in Indonesia, some constraints are hindering the system to grow. Flexibility strategy is conceptually applicable to minimize gaps in the system to its environment. This research was conducted to determine an adaptive warehouse receipt financing system using strategic flexibility. The research was carried out by ways in-depth interviews and focus group discussions with respondents with knowledge of or experience in warehouse receipt financing systems for commodities such as coffee, pepper, rice and maize. Analysis was done using Soft System Methodology (SSM) and Interpretive Structural Model (ISM) analysis to define conceptual models of flexibility strategy applied in warehouse receipt financing systems. The research findings, flexibility strategy is applicable in the warehouse receipt financing system: applying resource flexibility on input side to select the most efficient material to develop the product, applying resource and coordination flexibility in internal process to optimize internal processing, applying internal resources and coordinating flexibility on output distribution to expand the market and applying coordination flexibility to respond external condition. However, applying a flexibility strategy to respond externally was found to be the most suitable to adapt agriculture commodities financing on warehouse receipt system to its environment. Keywords: agricultural commodities, financing constraints, flexibility strategy, warehouse receipt system

FACTORS THAT INFLUENCE THE APPLICATION OF WHITE PEPPER COMMUNITIES WAREHOUSE RECEIPT SYSTEM IN BANGKA BELITUNG ISLAND PROVINCE

Bangka Belitug Islands are famous for their natural products, especially plantation commodities such as white pepper. Bangka Belitung Islands Province is largest producer of white pepper in Indonesia, therefore the government created a Warehouse Receipt System program that aims to provide benefits for farmers facing problems in farming. The study aims to analyze the factors that affect age, level of education, number of family dependents, land area, level of farming experience, and participation in counseling on the implementation of the Warehouse Receipt System and identify the benefits on the white pepper warehouse receipt system. Analysis of the data used in this study is a statistical analysis with multiple linear regression models and quatitative descriptive using a Likert Scale sourced from primary and secondary data in 2019. The results showed that age, number of family dependents, farming experience, and education participation had an influence on the implementation of the Warehouse Receipt System in the Bangka Belitung Islands Province. There are as many as 69,3% that farmers in the Province of Bangka Belitung Islands say that with the Warehouse Receipt System provides enough benefits in getting better prices, quality and quantity of goods stored, getting financing, and increasing bargaining prices.

Equality of the Parties in International Trade Agreements with Guaranteed Warehouse Receipt System Financing

Equality of the Parties in International Trade Agreements with Guaranteed Warehouse Receipt System Financing

Некоторые инструменты альтернативного финансирования малых и средних предприятий: опыт зарубежных стран

Small and medium enterprises play an important role in modern national economies. However, many of these enterprises experience difficulties in attracting the necessary investments for operation and further development. Personal finances are usually not enough to solve all problems, especially in crisis conditions. Bank loans are not available for most small and medium businesses because of small fixed assets, poor credit history, and incomplete reporting. As foreign experience shows, alternative forms and methods of obtaining the necessary funds can be an effective way to increase the financing of such enterprises. This review article examines the experience gained in recent years in using alternative financing. This experience is relevant for the current domestic entrepreneurship. Factoring, order financing, warehouse receipts, leasing, trade credit, and crowdfunding proved to be the main alternative financing tools. For each of these financial instruments, the article gives brief characteristics, advantages and disadvantages, requirements for regulatory support, and related types of activities. The research results can help entrepreneurs who have difficulties in financing their production and sale, especially beginners. The results obtained can be used by government authorities to form a policy to improve access of business structures to working capital and investment in Russia and its regions.

The Ambiguity of Resi Gudang (Warehouse Receipt) Guarantee Institution Legal Standing

Farmers usually use warehouse receipts to obtain debt with commodity objects stored in the warehouse as a debt security. Warehouse receipts as valuable objects, of course, have the potential to be tied up in a debt bond that serves as a security for these debts. However, for an item of guarantee, the legal aspects are quite diverse. For objects to be used as collateral in a credit agreement, they must meet certain conditions, namely, economic value and transferability. Therefore, it is necessary to conduct a study of warehouse receipts to be used as collateral objects, given the characteristics of warehouse receipts as valuable objects and the property rights attached to the warehouse receipts. This research is normative research with a statutory approach. The result of this research is that warehouse receipts can be used as collateral objects but with some adjustments. And based on the existing regulations, it is understood that the warehouse receipt arrangement does not create a warehouse receipt guarantee institution.Keywords: Resi Gudang, Debt, Collateral

Characteristics of Agricultural Commodity Financing Based on Warehouse Receipt System in Indonesia

Agricultural commodities financing based on warehouse receipt system is empirically beneficial to support rural agricultural businesses. However, the success of the system is influenced by a number of factors. The objective of this study is to characterize the factors of the warehouse receipt financing system where it is implemented in agricultural commodity in Indonesia. The research was conducted by means of a survey that collected data from respondents with knowledge of or experience on financing of commodities such as coffee, pepper, rice and maize. Partial Least Squares-Structural Equation Modeling (PLS-SEM) was used as the analysis model. The research results indicate that the warehouse receipt financing system suitable for development in Indonesia is characterized by social and commercial value. The product value must be supported by product attributes to ensure the availability, acceptability, accessibility, affordability and supply of information to provide awareness and trust in accordance with the values built in the financing product. This study can also prove that adding adaptability to product variables increases market acceptance. Keywords: Agricultural Commodities, Structured Financing, Warehouse Receipt System DOI: 10.7176/JESD/12-6-06 Publication date: March 31 st 2021

Warehouse receipt system and food security: factors that influenced farmers’ decisions

The Warehouse Receipt System (WRS) aims to increase commodity selling prices through sales delays and financing. Credit with stored production collateral is used to meet the needs of farmers in facing the next crop season. The research objective is to find out what factors influence farmers’ decisions in utilizing WRS. The research method is a survey with 18 respondents or 50 percent of farmers who use WRS. Data were analyzed by logistic regression. The results showed that the factors that significantly influenced farmers’ decisions to use WRS were the distance from the warehouse to farming and the costs associated with using WRS as an external factor. WRS needs to be supported by WRS cost subsidies as a WRS capitalization process in the agricultural sector.