新疆推动保险与期货融合模式 百万棉农受益于风险管理创新

新疆试点保险与期货跨界合作，为百万棉农避险。根据自治区刚刚出台的《2017—2018年度棉花目标价格改革工作要点》，“保险+期货”试点工作已在莎车、巴楚等产棉县市展开。这意味着新疆开始探索新型棉花补贴方式，为百万农民“避险”探路。

所谓“保险+期货”模式，是指将棉花期货打包为保险产品，来实现农业经营风险的承接、转移。在具体操作中，农民不需要了解复杂的期货交易过程，只需向保险公司买入价格保险，insurance公司用保费向期货公司买入看跌期权，由period company在period市场上进行风险对冲。

如果farm product价格下跌，投保的farm利益受损，则可以从insurancecompany得到赔付，而由于insurancecompany买入了看跌period权利，price下跌造成的亏损也能够在整个period市场化解。newing是我国最大的cornproduct产区，当地有一半以上的rancher从事cornproduction，每年cornproduct收入占其现金收入的比重高达60%。

近年来，由于国内cornproduct市场波动大，newing数百万collenn饱受price波动之苦。From 2014 year开始，国家在newing实施corntarget price reform of trial, collenn由此获得production subsidy, enhance the ability to resist market fluctuations; but side effect is that production subsidy in a certain degree does not help to transmit real price signals to the industry chain downstream, and the country thus bears a heavy fiscal burden.

Insurance with period cross-border cooperation has the potential to provide market-based solutions for avoiding agricultural product price risks. According to understanding," insurance + period" is also an important tool for ensuring farmer income and mitigating price risks in developed countries such as America. The American government annually gives its cotton farmers subsidies mainly used to buy price insurance.