Miller Magazine Issue: 117 September 2019

59 COVER STORY MILLER / SEPTEMBER 2019 is no effective futures market, which has also stymied price discovery and visibility, as well as limiting risk management options. With an average farm size of around two hectares, rice is also the most thinly traded of the major agricul- tural commodities, while the added complexities of trading a processed (milled) product can pose further challenges. Following the 2007/08 rice crisis, where a rap- id and significant increase in prices caused sub- stantial turmoil, many importing nations aimed for self-sufficiency to limit exposure to interna- tional markets. However, the expansion of trade is expected to raise the food security and rural economy links between Asia and Africa over the coming century, at a time when climatic risks to production may only increase. As a conse- quence, there is a growing need for cooperation in the sector, leading to a market place that is transparent and stable. In conclusion, the grains and oilseeds sectors are using globalisation, integration and innova- tion to address the challenges of food security and enhance value chain sustainability. 12 - 14 November 2019 InterContinental Geneva, Switzerland globalgrainevents.com/geneva Keynote address already confirmed by DAN BASSE , giving you his 12-month forecasts NEW: Digitalisation Workshop day looking into all factors and impacts of digitalising trade Get the Super Early Bird rate & SAVE MINIMUM £400