الاسواق الآجلة للمواد الاولية: التحوّل من سلع الى منتجات مالية

his article revolves around the chain transformations experienced by raw materials since their first natural form of natural resources, their commodity form proper, until their final transformation as financial products. This study is conducted within the framework of raw materials forward markets tendency. Such transformations are determinant in regard to both price formation mechanism of primary products, and export earning as well as import bills. This article raises particularly the question of the relevance of natural resources based development strategies from the standpoints of three main concerns: 1. Natural resources as commodities and their pricing formation conditions. 2. Forward market and price risk management. 3. Developmental appropriateness of policies based on the exploitation of natural resources.