Las opciones financieras: una alternativa para mitigar el riesgo de la volatilidad en los precios de los productos agropecuarios con análisis del café y cacao en el departamento de Antioquia

Abstract

In the farming activity there are several risks of economic, social, politic, legal and environmental nature, which have a direct effect on the production task and therefore the sale prices of these farming products have cyclic behaviors, creating uncertainty among the different roles of the production chain (producers, customers and investors) over the price levels in the future; thus, it is necessary to apply risk management mechanisms to help reducing the impact of undesired events. A good example of this is the financial options, which give the buyer the right and not the obligation to buy or sell an underlying asset on a determined time period, assuring in this way that the buy/sell processes are made with a fair price in order to develop the national and foreign markets. This Project approaches an analysis of the internationals market tendencies in the behavior of coffee and cocoa since the 2011, also a descriptive statistical analysis and technical analysis of product prices, establishing as emphasis the study of the volatility of these prices. Results that will be the input to structure a business model to reach the different actors, buyers and sellers of coffee and cocoa, that will generate hedging tools and management of risks associated with the primary sector of the economy in Antioquia, one of the Top Departments in crop and livestock production in the country, with coffee a product of great importance to national and departmental economy, since it is the first in exports and the second generator job after animal husbandry. In addition, the real growth of agricultural GDP in 2013 was 6.4%, and no coffee had been of only 3.4%.