Study On The Price Risk Faced By Soybean Import Enterprises In China And Countermeasures

In the international soybean trade,China is one of the major soybean producers in the world and was once a net exporter.However,with the improvement of the social and economic level as well as the steady improvement of the life quality of the people.As soybeans and their output are rich in protein,China's demand for soybeans has increased year by year,and it has widened the gap between the supply of domestic soybeans,which means that the domestic supply is far from meeting the annual demand for soybeans.The data shows that from 1995 to 1996,China's soybean import volume has grown by leaps and bounds year by year,and it is a general trend to import soybeans to meet people's gradually increasing living needs.At the same time,the rapid development of China's soybean import processing industry has also led to an ever-increasing gap between the consumption and supply of raw materials.Given the two trends,enterprises can only pay more attention to the international market to balance China's consumption demand for soybeans.At present,China has become the largest soybean importing country in the world,the import demand is rigid and the import quantity is increasing,the import situation of soybean industry is also very severe.The excessive dependence of raw materials on the outside and overcapacity in the crushing industry have led to a huge risk of international soybean import prices,which has dealt a serious blow to the soybean importing enterprises in our country.There are many kinds of risks in every step of the process of importing soybeans.The market environment at domestic and abroad is quite different.If enterprises do not pay enough attention to the control of price risk factors in the process of import,there will be a variety of problems.In view of this,in order to effectively avoid the price risk faced by enterprises in soybean import and enhance the awareness of price risk management in the international market during the import process,this paper draws lessons from previous relevant theories and research results.Based on the enterprise perspective,this paper uses the related principles of economy and trade,normative analysis and case analysis,qualitative analysis and quantitative risk measurement and other methods,selects the historical data of 2014-2017 to calculate the theoretical squeezing profit and establishes the model.The degree of import price risk faced by soybean import enterprises in China was evaluated according to the calculation results of VaR value and related indexes under different confidence levels.Price and a large soybean import company as a case study price risk management analysis.The conclusion of this paper puts forward the relevant countermeasures for the soybean import enterprises in China to avoid the price risk.Firstly,the enterprises should examine their comprehensive competitiveness and objectively analyze the price risks;Secondly,improve the management of the source of the import channels and the means of transportation.Thirdly,establish a strategic alliance of soybean imports with multiple enterprises as a whole;Fourthly,attach great importance to hedge in the futures market,establish a perfect internal risk control system and realize diversified development to improve the ability of soybean import enterprises to avoid price risk.