The legal regulation of exchange agricultural products in Ukraine: the current situation and the prospects of development

Abstract

Introduction. The resource potential of Ukraine in the formation of supply of high quality agricultural products gives grounds to assert its importance in the world market. The purpose of the paper is explores the question the current state and prospects for the development of the legal framework for the organization of exchange trade in agricultural products in Ukraine. Laws, regulations, concepts related to exchange activities are considered. Results. The author defines the concepts, types and features of the organization and functioning of commodity exchanges in Ukraine; found out the benefits of stock trading; the agrarian exchange isdistinguished and characterized. The article analyzes the actsof economic legislation in the sphere of regulation of the stock exchange trade in agricultural products in Ukraine, identifies its main shortcomings and gaps. The development and place of the agrarian exchange among domestic commodity exchanges are analyzed, the main reasons of inefficient functioning of the agrarian exchange are revealed and concrete measures for overcoming inefficient functioning of the agrarian market are offered. The main task of agricultural exchanges is to provide services in concluding exchange agreements on agricultural products, identifying commodity prices, demand and supply of agricultural products. It is substantiated that with the help of the exchange trade mechanism conditions are created for the formation of the fairest market price for agricultural products, which determines the prospects of the exchange trade mechanism in Ukraine and the world. Conclusion. The analysis of the current state of legal regulation and the system of organization of exchange trading in agricultural products in Ukraine leads to a conclusion that in Ukraine at the present stage of development there is no proper system for the organization of stock exchange trading in agricultural products, which is caused by the shortcomings of the economic legislation in the field of legal regulation of stock exchange trade in agricultural products in Ukraine systematic legal mechanism and insufficient efficiency of stock exchange infrastructure. The article presents the necessity of elaboration of the state concept of development of exchange trading in agricultural products in Ukraine, expansion of exchange infrastructure, introduction of electronic system of exchange trading, further development of Ukraine and integration to the world financial system.