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Influence of specifics of agriculture on pledge of future crop in credit transaction

Available online: 14 June 2014

Subject Heading: AGRARIAN AND INDUSTRIAL COMPLEX FINANCE

JEL Classification: 

Pages: 21-32

The article studies the features of pledge of future grain yield, being that volumes of crediting of the enterprises under this subject insignificant, mortgage discount high. Many enterprises have no other ensuring business deal, except grain. It conducts to inaccessibility of the credits though production of grain is strategic parameter in the program of food security of Russia. The author analyzes specifics of financial relations of farms of grain branch, their financial state. Results of research allow drawing the following conclusions: during the period from the 1990th prior to the beginning of the 2000th the condition of agriculture was critical and then there was a negative attitude to this subject of pledge. The paper notes positive tendencies in a grain segment: improvement of financial mechanisms of the mortgage relations, the capital structure and increasing financial stability of the enterprises, but the relation of banks to pledge of future crop doesn't change.

Keywords: pledge, future crop, agriculture, financial resources, liquidity, financial stability, financial cycle

References:

1. The annual report for 2009, 2010, 2011. Russian Agricultural Bank. Available at: Link. (In Russ.)
2. RF Civil Code. Part 1 of November 30, 1994 № 51-FZ (as amended by FZ of December 06, 2011, June 27, 2012). Available at: Link. (In Russ.)
3. Uniform interdepartmental information service of statistics. Available at: Link. (In Russ.)
4. Mochalova L.A. Model' risk-orientirovannoi finansovoi strategii korporatsii [Model of risk focused financial strategy of a corporation]. Vestnik Sibirskogo gosudarstvennogo aviatsionnogo universiteta – Bulletin of Siberian State Aviation University, 2010, no. 2, pp. 170–174.
5. RF Law “On Pledge” of May 29, 1992 № 2872-1 (as amended of December 06, 2011). Available at: Link. (accessed 05.10.2012). (In Russ.)

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ISSN 2311-8709 (Online)
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