Agricultural Product Derivatives - North Macedonia

North Macedonia

The nominal value in the Agricultural Product Derivatives market is projected to reach US$3.15bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 4.63% resulting in a projected total amount of US$3.95bn by 2029.
The average price per contract in the Agricultural Product Derivatives market amounts to US$0.02 in 2024.
From a global comparison perspective it is shown that the highest nominal value is reached in the United States (US$12,320.00bn in 2024).
In the Agricultural Product Derivatives market, the number of contracts is expected to amount to 84.18k by 2029.

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Analyst Opinion

Over the past few years, the Agricultural Product Derivatives market in North Macedonia has shown significant growth and development.

Customer preferences: Customers in North Macedonia are increasingly turning to Agricultural Product Derivatives as a way to diversify their investment portfolios and hedge against market volatility. The convenience and flexibility of trading these derivatives attract both individual and institutional investors looking to capitalize on price movements in the agricultural sector.

Trends in the market: One notable trend in the Agricultural Product Derivatives market in North Macedonia is the growing interest in derivatives linked to staple crops such as wheat, corn, and soybeans. As the country continues to modernize its agricultural practices and improve productivity, there is a corresponding increase in the trading of derivatives linked to these key commodities. Additionally, the adoption of advanced trading technologies and platforms has made it easier for investors to access and participate in the market.

Local special circumstances: North Macedonia's agricultural sector plays a crucial role in the country's economy, contributing significantly to its GDP and employment. As a result, there is a strong connection between the performance of the agricultural sector and the demand for Agricultural Product Derivatives. The government's efforts to support and promote agricultural development also create a favorable environment for the growth of the derivatives market.

Underlying macroeconomic factors: The overall stability of the North Macedonian economy, coupled with favorable government policies and regulations, provides a solid foundation for the Agricultural Product Derivatives market to thrive. Additionally, the country's strategic location and access to international markets make it an attractive hub for agricultural trading activities. As global demand for agricultural products continues to rise, North Macedonia is well-positioned to capitalize on these opportunities through its derivatives market.

Methodology

Data coverage:

Figures are based on commodity derivatives, their notional value, the number of contracts traded, the open interest (outstanding contracts at the end of a year), and the average value of a contract.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use market research & analysis, and data of World Bank, as well as the World Federation of Exchanges. Furthermore, we use relevant key market indicators and data from country-specific associations and national data bureaus such as GDP, wealth per capita, and the online banking penetration rate. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. In this market, we use the HOLT-damped Trend method to forecast future development. The main drivers are GDP per capita an the online banking penetration rate.

Additional Notes:

The market is updated twice per year in case market dynamics change.