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2012 Autumn - Managing uncertainty in the world’s riskiest business

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FPJ0901 - Abler, C, Danhong C, The role of contracts in managing risk in the fresh food supply chain

Abler, C, Danhong C, The role of contracts in managing risk in the fresh food supply chain, Farm Policy Journal Vol9 No4 pp 53-61, Australian Farm Institute, Sydney.

Risk is one of the defining characteristics of the fresh food supply chain. Risk for farms or firms at one stage of the supply chain creates risks for others upstream and downstream in the supply chain. These spill-overs in risk create a need for coordinated action among firms at different stages of the chain in order to effectively manage risk. Well-designed contracts can provide this coordination. Contracts have the greatest potential in managing risks that are under the control of farms or firms within the food supply chain, such as food contamination or failure to meet quality standards. Risks that are outside of the direct control of anyone in the supply chain, such as bad weather, natural disasters or sudden changes in government policy, are more difficult to address through contracts. Contracts can be formal or informal (often called relational or implicit contracts). Among formal contracts are market specification contracts, resource provision contracts, and production management contracts, each being appropriate for different market situations.





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Farm Policy Journal - Vol 8 No 3 2011 Spring - Full Journal - A private future for food and fibre quality

Farm Policy Journal, Vol. 8, Number 3, Spring 2011, A private future for food and fibre quality, Australian Farm Institute, 76 pp

ISSN: 1449-2210 (print), 1449-8812 (online) 

Historically, public authorities specified safety and quality standards for agricultural products, and provided reassurance to consumers that products were safe. Increasing consumer demands and the rise of food and fibre brands, and retailer brands have led to the development of private quality and safety standards. These private standards are a form of risk management for food and fibre brands, and retailers; but also create barriers to entry and exit for farmers supplying these brands and retailers. The Spring 2011 Farm Policy Journal sheds light on the pros and cons for the farming sector of these new trends – analysing impacts on domestic and international trade and economics. The Journal also provides useful tools for upgrading your knowledge of this topic, including a lexicon, and case studies from China and South-East Asia.


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