WORLD AGRICULTURAL MARKETS: ANALYSIS OF DYNAMICS AND PROSPECTS

Abstract

Introduction. World prices affect the level of domestic pricing, which, in turn, affects the level of competitiveness of products. In addition to price levels, international agricultural markets are influenced by the volume of production of a particular product by individual countries, the general dynamics of trade, exports and imports, intergovernmental relations between specific countries to establish the volume and list of quotas. Despite the constant positive dynamics of increasing world trade in Ukrainian agricultural products, the existing domestic foreign economic export potential is not fully used, which requires finding ways to intensify its use and further increase. The purpose of the article is to analyse the world agricultural markets, assess the prospects for their development and justify ways to strengthen Ukraine's position on them. Results. An analysis of the growth and structure of world trade, as well as its place in world gross domestic product have been implemented. The dynamics of prices for key food products in the world is determined, based on which the ARIMA model for forecasting the price of wheat on the world agricultural market is proposed. The level of competition of key Ukrainian agricultural goods on the world market (wheat, sunflower, barley, corn) is determined as determinants of these markets. Based on the analysis of the dynamics and prospects of world agricultural markets, it is proposed to classify world agricultural markets into classic agricultural; innovative, represented mainly by organic products; niche crops; livestock markets. Promising foreign agricultural markets for Ukrainian agricultural producers, namely niche markets, have been identified. Key words: agricultural market, world agricultural markets, agricultural producers, market structure, export, competitiveness.