| Our country is a big agricultural country with rich kinds of agricultural products.Among various agricultural products,peanut,an important cash crop,is welcomed by many farmers.China is the world’s largest peanut producer.Under the circumstance that the government actively promotes peanut planting with high oleic acid,the planting area of peanuts is also increasing year by year.In our country,the intensity of peanut planting is low.Most peanut farmers are small farmers with weak risk tolerance ability and limited awareness of risk prevention.Market risk and natural disaster and other factors,it is easy to bring huge economic losses to peanut farmers."Insurance + futures" model is an effective risk management tool for agricultural products.The "insurance + futures" mode can effectively transfer the price risks of agricultural products faced by farmers,provide price risk protection for farmers,and provide insurance companies with dual protection against market risks and natural risks.The design of peanut price insurance product based on "insurance + futures" model not only hopes to stabilize farmers’ income,but also hopes to solve the problem that insurance companies cannot directly participate in futures trading to transfer their own risks due to policy restrictions,so as to ensure the interests of each participant of the product.This paper firstly summarizes the research results of domestic and foreign scholars on the price risk of agricultural products,product design and product pricing of the "insurance + futures" mode of agricultural products,and summarizes the development status of the "insurance + futures" mode of agricultural products,as well as the advantages and disadvantages of the price insurance design of agricultural products.Secondly,it expounds the design concept of peanut price insurance products designed in this paper,introduces the design idea of peanut price insurance products in detail,and sets the product elements according to the price fluctuation of peanut market.At last,the paper expounds the operating mechanism of peanut price insurance products and determines the terms of peanut price insurance products in three steps.But in the terms of the peanut price insurance,the insurance cost needs to be further calculated to determine.The key part of this paper is to determine the premium of peanut price insurance products.In the part of premium determination,firstly,the price discovery function of peanut futures is analyzed empirically,and the guiding effect of peanut futures on spot price is determined,which lays the foundation for the determination of peanut price insurance premium.Secondly,the Monte Carlo simulation method is used to price peanut insurance products,and the dual variable technology is used to reduce the variance and improve the accuracy of pricing.Then,according to the result of premium determination,the claims of peanut price insurance products and the income of each participant of the product are analyzed.Finally,the paper analyzes the feasibility of peanut price insurance products from PEST model,factors affecting peanut growers’ demand for peanut price insurance products and factors affecting the supply of peanut price insurance products,and promotes peanut price insurance products through online means such as digital technology platforms.At the same time through the establishment of agricultural insurance grass-roots service network promotion department and the construction of village team to promote the product offline. |
