抄録
Until recently, there has been no rice exchange in the California rice industry.
It was only in 1999 the CRE (California Rice Exchange) established an online means whereby people could engage in rice exchange. As a result, buyers and sellers could deal in paddy through the Internet. Prior to that, sellers could trade with buyers only by negotiating transactions. However, buyers could get cash earlier than the negotiated transaction in favor of CRE. Besides, a new distribution route of rice mills closely related to the CRE was developed. Thus, members of FRC (Farmer’s Rice Cooperative) could sell paddy through the CRE. As CRE dose paper work for paddy trade, sellers and buyers can deal with it conveniently. Now, buyers and sellers in California negotiate transactions according to the benchmark of paddy price on the Internet (i.e., online paddy exchange) by CRE. Thus, it is evident that the CRE functions as medium rice and short rice for rice exchange.
