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Agricultural Value Chain Finance : Tools and Lessons - Calvin Miller

Agricultural Value Chain Finance

Tools and Lessons

Paperback

Published: 1st January 2010
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Agriculture remains an important means of alleviating poverty, but shortage of finance can constrain its development. At the same time, agriculture is evolving towards a global system requiring high-quality, competitive products, and is organized in value chains which often exclude smallholders. Value chain financing in agriculture offers an opportunity to increase the scope, and reduce the cost and risk of financing to agriculture. It can also help value chains to be more inclusive, by making resources available for smallholders to be integrated into higher value market opportunities.

Agricultural Value Chain Finance provides a comprehensive look at the models, tools and approaches used by industry leaders in all parts of the developing world. These are described, analysed and illustrated by many rich examples in order to demonstrate how they work, and to extract lessons and applications for others to adapt. The book builds on the deep experience of the Food and Agriculture Organization of the UN (FAO) in agricultural development and finance and includes 40 industry examples and 5 comprehensive case studies to enhance learning.

This book is essential reading for agribusiness leaders and technical staff, bankers and cooperative leaders working in agriculture, NGO and microfinance development practitioners researchers and policy makers.

`This book makes a useful contribution to the rapidly expanding literature on value chains by clarifying the myriad methods, some old, some new, used to finance actors in agricultural value chains.'---Richard L. Meyer, Professor Emeritus, Ohio State University

`I recommend the publication to be read by all stakeholders in the agriculture sector--- N.V. Ramana, former CEO, BASIX India, and Chairman, Indian Society of Agribusiness Professionals

`An insightful and complete analysis of agricultural value chain financing---Mark D. Wenner, Inter-American Development Bank

`This is a "must read" for anyone interested in value chain finance.---Kenneth Shwedel, Agricultural Economist

This excellent and appropriately practical book offers a global review...the lessons and recommendations drawn have much to offer...very worthwhile.' New Agriculturalist

Boxesp. vii
Figuresp. ix
Tablesp. x
About the authorsp. xi
Acknowledgmentsp. xiii
Prefacep. xv
Introductionp. 1
Defining value chain financep. 2
Why is there interest in value chain finance in agriculture?p. 3
Overview of contentp. 3
Understanding agricultural value chain financep. 5
Contextp. 5
The concept of agricultural value chain financep. 8
Agricultural value chain finance as an approachp. 14
Enabling environmentp. 17
Standards and certificationp. 19
Regulation and enforcementp. 20
Macro-economic and social contextp. 21
Value chains and diversified livelihoodsp. 23
Value chain business modelsp. 27
Producer-driven value chain modelsp. 29
Buyer-driven value chain modelsp. 30
Facilitated value chain modelsp. 36
Integrated value chain modelsp. 40
Case Study 1. Farm Concern International: commercial village approachp. 45
Agricultural value chain finance instrumentsp. 55
Product overviewp. 55
Product financingp. 55
Trader creditp. 58
Input supplier creditp. 60
Marketing company creditp. 62
Lead firm financingp. 64
Receivables financingp. 67
Trade receivables financep. 67
Factoring and forfaitingp. 69
Physical asset collateralizationp. 72
Warehouse receiptsp. 72
Repurchase agreements (repos)p. 82
Financial leasep. 83
Risk mitigation productsp. 84
Crop/weather insurancep. 84
Forward contractingp. 85
Futuresp. 87
Financial enhancementsp. 89
Securitizationp. 89
Loan guaranteesp. 90
Joint venturesp. 93
Bringing it togetherp. 95
Case Study 2. Producer-driven financing of farm inputs: Niger informal inventory creditp. 100
Case Study 3. LAFISE Group: integrated financial instruments and value chain servicesp. 108
Innovationsp. 115
Value chain innovationsp. 115
Financial innovationsp. 117
Technological innovationsp. 120
Management systemsp. 120
Networks and exchangesp. 121
Mobile phones and mobile bankingp. 122
Infrastructural innovationsp. 123
Policy and public sector innovationsp. 124
Case Study 4. DrumNet and technological innovationsp. 126
Case Study 5. Integrated agro food parks: avenues for sustainable agricultural development in Indiap. 137
Lessons learned and summary recommendationsp. 147
Lessons learnedp. 147
Summary of recommendationsp. 153
Recommendations regarding financial institutionsp. 154
Recommendations regarding value chain stakeholdersp. 155
Recommendations regarding policymakersp. 157
List of conferencesp. 159
Referencesp. 161
Indexp. 167
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9781853397028
ISBN-10: 1853397024
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 192
Published: 1st January 2010
Publisher: Practical Action Publishing
Country of Publication: GB
Dimensions (cm): 22.86 x 15.88  x 1.91
Weight (kg): 0.3