Funded MSc Studentship, Cork Institute of Technology, Ireland

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The Role of Commodity Futures Markets in Managing Agricultural Price Risk In Ireland.

The policy environment facing the Irish dairy industry continues to undergo considerable change under WTO and CAP reform. Movement away from supply management by the EU and a more liberal global agricultural trading system will involve greater price volatility for dairy commodities. This increase in volatility will translate to an increase in risk for participants in the Irish dairy industry. The adoption of suitable price risk management tools will help to ensure that the Irish dairy industry remain competitive and profitable in an uncertain future.

Commodity futures and options markets are the most transparent tools which have been successfully used to manage price risk in agricultural commodity markets. While there has been some development of these tools for a number of agricultural commodities in the EU (cereals, livestock and energy crops), the dairy sector to date has been largely ignored. This research will provide crucial information on the role and functioning of commodity futures and options markets. In addition the relationships between commodity spot and futures prices will be review and modelled. The results of this exercise will inform industry participants and policy makers on the challenges of developing dairy futures markets and how these markets could potentially be used to manage risk.

It is essential that the applicant holds an honours degree (first class or second class grade 1) in a relevant business related discipline. In addition the applicant must be computer literate with strong quantitative ability. The applicant should be ambitious, self-motivated and possess an ability for problem solving.

The successful applicant will be funded under an Irish Dairy Board Fellowship scheme and will receive a remuneration of €30,000 over an 18 month period. It is envisaged that the successful applicant will commence during March 2010.

The closing date for applications is Friday 19th February 2010.

For more information or for expression of interest please contact:

Dr. Declan O Connor,
Department of Mathematics,
Cork Institute of Technology.
Telephone: 021-4236394 or
email: declan.oconnor@cit.ie

Read more: Funded MSc Studentship, Cork Institute of Technology, Ireland

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