Purpose: The aim of this article is the improvement of the theoretical bases and the development of a scientifically grounded approach balancing the food supply from the economic and the practical application for a complex social and economic assessment of development of the food sphere as a whole. Design/Methodology/Approach: In the process of research the authors’ approach was used to consider the balance of food supply from the position of three structural and consistently interrelated elements-phenomena, process and state. The authors’ interpretation of each element is given, the method of their evaluation is developed, based on the structural division of indicators into balanced ones, exceeding the level of balance and being below the specified level. These indicators are differentiated into 7 functional groups (from the minimum to the maximum degree of balance). Findings: The result is a comparative assessment of the level of balance of food supply in the UK, France, Czech Republic, Latvia and Russia and the definition on its basis of priority directions of development of agriculture in each of the allocated states. Practical Implications: The results of the work can be used by governing bodies to make specific practical decisions in the food sector, and to adjust the directions of its development. Originality/Value: Materials of the article are original and have not been previously published. The calculations were based on official data from the European Statistical Agency, Eurostat and the Federal State Statistics Service of Russia, which indicates the reliability of the presented scientific materials.

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