| China is the world’s largest producer and consumer of pork.However,affected by factors such as season,breeding cost and swine fever,the price of live pigs fluctuates widely and frequently,which seriously affects the stable development of the pig industry.Therefore,the demand for safe haven in the pig industry is strong.However,the ordinary pig insurance has not played a good role in avoiding risks due to the difficulties in pricing and the lack of reinsurance mechanism.The listing of pig futures in 2021 has provided a new risk management tool for the pig industry and started the prelude of "insurance + futures" model to serve the pig industry.However,this model is still in the initial exploration stage and needs to be further improved and promoted.This paper selects a case study of the "insurance + futures" project for live pigs in Linyi County,Shanxi Province,and uses three research methods: case analysis,literature research and scenario analysis to analyze and summarize the successful experience of the case,and put forward suggestions for better promotion of "insurance + futures" of live pigs.Firstly,this paper uses literature analysis to sort out the relevant literature,concepts,theoretical basis and operation mechanism of "insurance + futures";Secondly,it introduces the background,basic situation,participants and contract content of the case;Thirdly,case analysis and scenario analysis are used to analyze the project.It is found that the success of the project lies in the adoption of the enhanced Asian option strategy and the "insurance + futures + cooperative" model,but there are still problems of single source of premium subsidies and limited coverage of price insurance;Finally,suggestions are put forward to perfect and promote "insurance + futures" for live pigs from four aspects: design of insurance products,innovation of "insurance + futures + N" model,construction of multi-level subsidy system and transition from price insurance to income insurance. |
