ANALYSIS OF PROVIDING FUTURES TRADE OF AGRICULTURAL PRODUCTS IN UKRAINE

Abstract

Introduction. The basis for the advancement of the rank is legislative and normative, legislative acts, regulations, instructive materials, informational staff, and special literature. The gross scientific method for the analysis and synthesis, induction and deduction, convergence from the abstract to the concrete were used, as well as specific methods of analysis: grouping, ruling, systematic, etc. The purpose of the article is to justify the development of futures trading and its introduction into the sale of agricultural products in Ukraine in modern conditions. Results. This article proves that an important condition in ensuring the transparency of pricing and sales of agricultural products in Ukraine should be the creation of an exchange market for commodity derivatives for agricultural products. Low volumes of trade in forward contracts in Ukraine make it impossible for small and medium-sized commodity producers to understand better the essence of trade in commodity derivatives for agricultural products. Analysis of the state of the commodity exchange market in the country shows that quantitative and qualitative indicators do not match in Ukraine, according to the State Statistics Committee at the beginning of 2014. 586 commodity exchanges were registered (excluding stock exchanges), which is 95 times more than in 1992 (62 exchanges) and almost 2 times more than in 1999 (300 exchanges). Among these universal exchanges – 107, commodity and commodity exchanges – 391 exchanges, agro-industrial – 25, others – 39. It is highlighted that the Ukrainian stock market has not taken its rightful place as required by the market economy. It was created without a clear legal framework, weak understanding and uncertain behavior of the state in relation to exchange activities, as well as the absence of a state regulator that would coordinate, supervise and organize the work of commodity exchanges. Conclusions. It is proved that the increase in sales of agricultural products on commodity exchanges has been largely achieved through the registration of export contracts on accredited exchanges in recent years, which had no practical impact on the pricing process and stabilization of the agricultural market. Keywords: futures, futures market, agricultural products, agricultural sector, stock market, world market.