Ukrainian Grain Research Articles

THE TRANSPORT OF UKRAINIAN GRAIN THROUGH POLAND AND THE DOMESTIC GRAIN MARKET

The aim of this paper is to identify the potential of the Ukrainian grain transport route through Poland, and to predict the effects of using this route for the domestic grain market. Analytical methods are used in the research, including SWOT analysis and variant analysis. It is found that, even with a certain organizational and investment effort, the route through Poland may be, at most, a significant supplement to other export routes. The available transport, reloading, and storage reserves are small when set against the scale of needs related to the replacement of traditional export routes through Ukrainian ports on the Black Sea and the Sea of Azov. Conclusions are also formulated about the impact of Ukrainian grain transport on the domestic grain market in various scenario options (direct transit, indirect transit, and “penetration” of goods into the Polish market).

DESIGN OF TRANSITION JUNCTIONS OF SILOS’ CONICAL HOPPERS ACCORDING TO EUROPEAN STANDARD EUROCODE

Problem statement. Today, the food security of the world is one of the main issues for the political, economic and scientific community, and the recent crisis with the export of Ukrainian grain only intensifies the urgency of the problem. The important part of this issue is creation of reliable and safe grain storage silos. An analysis of recent accidents in silos, especially with conical hoppers, revealed a range of imperfections in outdated regulatory practices that Ukraine inherited from the Soviet building norm system. A limited list of agricultural crops, ignoring the statistical spread of their physical and mechanical characteristics, not differentiating between the stress-strain state for filling and discharge silos, the absolute absence of guidelines and recommendations for the design of principal connections - this is a far from complete list of shortcomings and omissions of outdated Soviet standards. With the entry into force of the new Ukrainian norm DBN V.2.6-221:2021 “Designs of steel silos with a corrugated wall for grain”, the situation should have changed. Firstly, the new standards take into account the world experience in design, construction and fabrication of silos, and secondly, they have a direct and legitimate reference to the necessary standards of the Eurocode system, in which a modern engineer can find answers to a wide range of practical questions. Unfortunately, the introduction of this, without exaggeration, modern and extremely important standard into construction practice is constantly ignored. On the one hand, this is due to the unwillingness of Ukrainian manufacturers to switch to new European and more rigid requirements for reliability and safety, on the other hand, the fear of Ukrainian engineers in front of the complex and extensive Eurocode standardization system. The purpose of the article (ignoring the financial commercialism of individual silo manufacturers) is explain to domestic designers a few provisions of the new DBN V.2.6-221:2021 related to the design of silos with a conical hopper. In particular, the design of one of the very important units at the point of transition of the cylindrical part of the silo to the conical hopper. Methodology. For this, the general ideology and methodology of the limit state method, implemented in the Eurocode standards through the system of partial reliability factors, as well as classical methods of structural mechanics, which are still not reflected in the system of building regulation of modern Ukraine, are used. Results. As a result, clear recommendations for the design of the transition junction of silos with a conical hopper in accordance with Eurocode and DBN V.2.6-221:2021, as well as clarification of “special” points that are not properly covered in both regulations. Conclusion. The recommendations and explanations given in the article, firstly, accelerate the introduction of the new DBN V.2.6-221:2021 into engineering practice, which is harmonized with the Eurocode system, and secondly, allow to achieve more reliable and safe design solutions in the field of silos fabrication, in thirdly, they deactivate the chronic design fear of Ukrainian engineer before the European school of building standards.

FEATURES OF THE FORMATION OF LOGISTICS EXPENSES OF ENTERPRISES UNDER MILITARY CONDITIONS

The peculiarities of the formation and functioning of logistics activities during the full-scale invasion of Russia into Ukraine were studied.
 This article highlights the problems of logistics development in Ukraine during the martial law and the prospects for their solution. Considered the problems faced by the Ukrainian logistics business before the full-scale offensive of the Russian Federation. Logistics costs until February 24, 2022 and after were analyzed, relevant conclusions were drawn, namely the unprofitability of Ukrainian enterprises and their crisis situation.
 Attention was also paid to such issues as transportation by land transport and sea vessels - blockade of railways and ports. The consequences of increasing the coefficients of transportation tariffs are highlighted.
 Ukraine is one of the world leaders in the export of grain. But due to Russian aggression, the main logistics route for this product — the Black Sea — was blocked. The mentioned aid from Turkey and the creation of the "Grain Corridor", during which the export of Ukrainian grain became possible. The Grain From Ukraine initiative, which was successfully adopted and agreed upon by the President of Ukraine, Volodymyr Zelenskyi, is a project called "Grain from Ukraine", which aims to provide more than five million people with grain by the end of spring 2023. The future of Ukrainian exports of agricultural products will largely depend on the continuation of the "grain agreement".
 The problems of Ukrainian ports and railways are identified, and alternative ways of moving transport are given. For cross-border transportation, transit routes with countries such as Poland, Hungary, Moldova, Slovakia, and Romania are used.
 The article also mentions business activities in the west, during which investment and fulfillment are increasing. Options for improving the efficiency of logistics supply chains are indicated. It is noted that the situation on the market, both domestic and foreign, changes almost every day, so this trend will continue in the future.
 If the situation with the availability of logistics does not improve, not only the Ukrainian agricultural sector will be at risk, but also the macroeconomic stability of the country, as well as global food security.

Some aspects of food security in the countries of Central and South-Eastern Europe

Among the complex of issues dealt with by the theory of food security, the problems of the impact on food inflation, which especially grew in the Visegráld countries and Albania in the 2nd-3rd quarter of 2022, are being studied. The focus of the paper is on researching the possibilities of increasing the product supply due to imports. The countries selected for the study demonstrated a common strategy to use the problems with the export sales of grain experienced by Russia and Ukraine in 2022 in the interests of developing their own infrastructure and increasing the security of national grain markets, as well as to strengthen the ruling political forces. However, due to multiple differences between the countries (the level of self-sufficiency in grain crops, the degree of geographical proximity to Ukraine, the availability of financial resources, etc.), they chose different tactical models: the Visegrad countries and Romania, despite the rhetoric of solidarity with countries with a high level of food insecurity, are aimed at obtaining additional financial dividends from their role as transit countries for Ukrainian grain; Albania, due to its geographical remoteness from Ukraine, the closure of Ukrainian ports before the start of a grain deal and small financial reserves, is forced to focus on other available sources of grain.

Improving Ukrainian grain export supply chains: an inclusive approach

ABSTRACT Ukraine needs to restore its grain exports. More robust logistics may be constructed by identification of the stages of the supply chain and their improvement by individual components (e.g., granaries in Ukraine, rail transport from these facilities to the border, and on to grain export terminals in EU seaports); and by expansion of the circle of stakeholders and synchronisation of information between them. An inclusive approach – increasing the level of participation of all stakeholders in the process and benefits of economic development – is aimed at diversifying supply chains and minimising capacity reduction without significant capital investment.

Multidimenzionalna priroda rizika u kontekstu rata u Ukrajini

This research has focused on the analysis of the international consequences of the aggravated and frustrated exports of agricultural products from Ukraine due to war events, as well as other risks associated with them. Despite the existence of the international acts that seek to, at least partially, remove uncertainties regarding the prospects for the export of grain and other crops (such as the Istanbul Initiative under the auspices of the United Nations), the number of Ukrainian grain exports have significantly decreased compared to 2021. The problem mentioned in this Article is analyzed from the perspective of the risks associated with the state of war, including the lack of interest of many insurers to consider doing business in export insurance under such circumstances. In this regard, several phenomena have been researched, such as the problem of high premiums in the context of war and political risks of civil commotions and famine, which have already occurred in various parts of the world. It is considered that the problem of aggravated or frustrated export of the Ukrainian grains represents a classical geopolitical risk. Bearing this in mind, in the context of the continuing inland, air and marine war in Ukraine, the restrictive measures against Russia and the significant international dimension of the conflict, as well as the inability of governments to guarantee the security of exports, it seems that the business of insurers with regard to covering the Ukrainian grain exports will continue to be burdened with multiple challenges.

Москвіченко І. М., Стаднік В. Г., Коросан А. П. ПІДВИЩЕННЯ ЯКОСТІ ПОСЛУГ ОРГАНІЗАЦІЇ ДОСТАВКИ КОНТЕЙНЕРНИХ ВАНТАЖІВ КОМПАНІЯМИ ЛОГІСТИЧНОГО АУТСОРСИНГУ З УКРАЇНИ В УМОВАХ МОРСЬКОЇ БЛОКАДИ ПОРТІВ

Annotation. The purpose of the article is to develop theoretical and applied approaches to selecting effective supply chains for container cargo by logistics outsourcing companies from Ukraine in the context of the sea blockade of ports. Research methodology. The goal set in the article is achieved using the following research methods: logical generalization and scientific abstraction, structural analysis, and the analytical method. Findings. The cost of various container export delivery schemes through European seaports with cargo delivery to the port of departure by various modes of transport was calculated. As a result, the most efficient delivery scheme was chosen - the export of containers with Ukrainian grain through the Port of Gdynia to the port of Xingang by rail, which is offered by Western Container Terminal LLC, using the sea freight tariff of the Hapag-Lloyd container line. At the current stage, the existence of Ukrainian logistics companies depends on the development of the most variable transport delivery schemes, so the prospects for further research are in the use of dynamic simulation modeling of supply chains, for example, using the AnyLogistix platform, which combines analytical optimization and dynamic modeling in one platform. Dynamic modeling makes it easy to experiment with your supply chain and choose the best solutions to implement. A dynamic simulation model can serve as a digital double of the supply chain, which allows you to experiment with improvements and track all important indicators: costs, revenue, inventory dynamics, service quality, bullwhip effect, capacity, inbound/outbound orders. Logistics outsourcing companies will be able to test multiple supply chain transformation scenarios, vary parameters, and make business decisions based on testing and evaluating results in a risk-free virtual environment. Practical value. The practical use of the proposed theoretical and applied approaches will improve the effectiveness and quality of services of Ukrainian logistics outsourcing companies. Logistics companies can test multiple supply chain transformation scenarios, vary parameters, and make business decisions based on testing and evaluating results in a risk-free virtual environment.

The ISCAP in the Shadow of the Russian-Ukrainian War

After the shock of the coronavirus, the world was hit by another blow: the Russian-Ukrainian war. This had a number of effects on the world, causing inflation and an energy price explosion. In the case of Africa, even food security was at risk due to the decline in Russian and Ukrainian grain. However, what is chaos for the world is an opportunity for jihadist movements to gain strength, as the burden on citizens increases social discontent. The situation in sub-Saharan East Africa is no different. The Islamic State's youngest province, ISCAP (Islamic State of Central Africa Province), created in 2019, remains dangerous, although the jihadist movements that make it up are not achieving the spectacular successes of the past. The Allied Democratic Forces (ADF) is based in the Congo-Uganda border region, while al-Shabaab in Mozambique has emerged in the northern province of Cabo Delgado. Their exact links to the Islamic State are not fully known, but recent reports suggest that the Islamic State of Somalia may be a center of back-and-forth communication between the two parties. The study focuses on ISCAP and the period since the Russian-Ukrainian war. In other words, what trends can be observed, how dangerous they could be and, most importantly, what opportunities they face and what kind of response is coming from the security forces. For the status of jihadist organisations, I refer to Stig Jarle Hansen's book Horn, Sahel and Rift, published in 2019. For the others, I rely on reports, analyses and, above all, recent news that may bring about changes in the way things have been done so far, one example being the LNG project being built in Cabo Delgado.

Агропродовольственная безопасность в регионах Передней Азии и Африки в условиях снижения экспорта пшеницы из России и Украины

The article notes that Russian and Ukrainian grain exports account for more than a quarter of the total volume of wheat on the world market. Due to the acute armed political conflict, wheat exports from Russia and Ukraine fell sharply. The result revealed that a decrease in world wheat trade by only 1 percent could increase exporters’ prices for wheat by 1.1 percent. It was determined that an increase in the pricing policy of producers by 1 percent can reduce wheat consumption by 0.59 percent. A decrease in wheat exports from Russia and Ukraine may worsen the situation with shortages of food products in the countries of the Middle East and Africa. To increase their regional food security, developing countries must, as part of strengthening state food policy, expand domestic wheat production using the latest technologies and additional investments in agricultural development.

Wojna w Ukrainie jako determinanta zmian w zachowaniach konsumenckich w Polsce i na świecie. Przykład rynków żywnościowych, nieruchomości oraz dóbr luksusowych

The war in Ukraine and global inflation are currently having a direct impact on the consumer behavior of both Poles and people around the world. This is confirmed by a number of research reports and statistical data. One can also observe this phenomenon in macroeconomic indi- cators. Ukraine is an important agricultural basin (including 10% of world wheat production and 50% of sunflower oil production), and Russia is blocking grain supplies through Ukrainian ports on the Black Sea. This supply glut is particularly felt in countries dependent on imports of Ukrainian grain and cooking oil, such as Egypt and India. The European real estate market, initially resistant to inflation and the war in Ukraine, is also starting to become more dynamic. Demand for luxury goods in Europe and the United States is growing despite a confluence of many negative factors that would seem expected to spoil consumer sentiment. The article will outline significant changes in consumer behavior with regard to the food, real estate and luxury goods markets, which represent the need for both companies’ marketing efforts and their sales strategies and consumers themselves to adapt to the “new” economic and social reality.

Российско-украинское противостояние в Черном море через призму «зерновой сделки»

The launch of Russia’s special military operation in Ukraine was marked by the closure of a sufficiently large water area of the northwestern part of the Black Sea that Russia declared a “temporarily dangerous area” where it could not guarantee the safety of navigation. This affected the interests of both Ukraine and neutral states in the field of maritime trade. At the request of the UN Secretary-General, the Russian Federation formed a sea corridor for the safe transportation of the Ukrainian grain and other products in order to address the problem of hunger and food insecurity in most vulnerable states. This initiative was implemented until Russia pressed reasonable charges of complete violation of the peaceful spirit of the grain deal by Ukraine. Russia’s withdrawal from the “grain deal” marked the return to the regime of the temporarily dangerous area, which Ukraine and its foreign partners hastened to declare a full-fledged blockade. The formation of such a “closed” area for shipping and accusations of blockade require a legal analysis of the situation.

Global Food Security and Ukraine’s Contribution to Its Provision

The aim of the article is to study the essence of global food security and assess Ukraine’s contribution to its provision. The essence of the concept of “global food security” is clarified. The tasks of specialized institutions dealing with the problem of global food security are described. Ukraine’s participation in the FAO and the UN World Food Security Committee has been clarified. It has been established that the Global Food Security Index (GFSI) is used to assess food security around the world, which includes four components: food affordability, food affordability, food quality, safety an d security, natural resources and sustainability. Ukraine’s contribution to the world food market has been studied. The structure of the total merchandise exports of Ukraine was analyzed, it was found that the share of agri-food products is 40.6%, and the share of plant products is 22.8%. Ukraine’s place in world food exports is specifi ed, the geographical structure of food exports is considered. Ukraine’s contribution to food security in Africa and Asia is analyzed. The dynamics of Ukrainian grain exports to the world market has been studied. The risks and threats to global food security related to the Russian armed invasion of Ukraine are described. The USDA forecast for grain exports from Ukraine is given. The conclusion is made about the need to protect and support the production of agricultural products in Ukraine under martial law.

Global food security: trends and challenges

Food is the primary need of any human being, which is why the food security at the both national and global levels is always important. The subject of this research is the global food security. The purpose of this article is to analyze the current state of global food security, identify its main challenges and development trends of recent years. To achieve the goal of this article the author sets and solves following tasks, namely, analyzes different approaches to defining the concept of «food security» and the number of starving people in the world and in its regions for the period 2005-2021, identifies the main challenges for the world food security. General scientific methods were used to achieve the goal of research: analysis, synthesis, systematization, comparison, abstract-logical method. The results of the research show that number of starving people both quantitatively and in percentage terms from 2005 to 2018 almost constantly decreased, and from 2019 began to grow steadily. The author notes that the largest number of starving people live in Asia, and the largest percentage of the undernourished population live in the African region. Since 2020 global food security has worsened significantly, and the main reason for this was the global COVID-19 pandemic, because of which the starving people number began to rise rapidly across the planet. The main negative impact was manifested in the population income decrease and an food prices increase. In addition, the negative consequences of the COVID-19 pandemic were also manifested in the reduction of food production, namely, the access of small producers to the necessary resources was reduced, some food products demand decreased due to the closure of public catering establishments, and also there was a temporary suspension of exports. The author highlightes that at the beginning of 2022 a new global food security challenge appeared, it was the Russian-Ukrainian war. Due to the stopping of Ukrainian exports, record food prices were observed, which significantly worsened the access of the low-income population to food products. After the signing of the grain agreement and the resumption of Ukrainian grain exports, the situation stabilized. Conclusion: a steady deterioration of global food security has been observed since the beginning of 2020, the main cause of which was the COVID-19 pandemic, and in 2022 appeared a new challenge, Russian-Ukrainian war.

Світові тенденції розвитку ринку пшениці і кукурудзи та визначення місця України в ньому

The article examines global trends in the production and export of wheat and corn. Trends that are formed in the world grain market strongly depend on a number of factors, the most important of which are: the sustainable economic development of the country as a whole, in particular the level of development of the agrarian sector of the economy, geopolitical (conflicts in the political arena, wars), demographic (rapid growth of the population in world) changes in the world. The main factors affecting the yield of agricultural crops and the size of the harvested crop were analyzed. The most significant among them are: the number of cultivated areas, yield per hectare, weather and climatic conditions, amount of precipitation, technical equipment of producers, production methods, seed materials, etc. The top wheat and corn producing countries in the world have been determined. The indicators that characterize the world grain market and affect the size of the harvested crop are analyzed, among them the most significant are: the world production and export of wheat and corn, the number of sown areas, yield per hectare. Information on changes in futures prices for grain crops formed on the leading international commodity exchanges: Chicago (ZWZ2), New York (NYMEX), European Euronext (EBMZ2) and the Black Sea was studied. The main problems of the development of the Ukrainian grain market today have been identified and directions for solving them and increasing the export of wheat and corn have been outlined. Outlined state of the world grain market for 2022/2023 MR. The market of wheat and corn in Ukraine was analyzed, the main obstacles and problems of grain export from Ukraine today were determined, directions for their solution were outlined. In order to solve the existing problems on the Ukrainian market, it is necessary: to establish the export of grain crops by rail to European ports and continue its transportation to end consumers, to build grain terminals on the borders with the countries of the European Union (Poland and Romania) to increase cargo flows, simplify the logistics process, and enable the transition to futures trade, which will expand the financial capabilities of our producers. In order to ensure the storage of wheat and corn, it is advisable to use all available warehouses in the country and any other possible options for high- quality storage without losing the properties of the product, in particular, big bags, special bags, polyethylene sleeves, underground elevators, tent storages, etc

УКРАЇНА ЯК ДОНОР ЕКОНОМІЧНОГО РОЗВИТКУ РОСІЇ ТА СРСР

The purpose of the research is to clarify the role of Ukraine as a donor in ensuring the development of russia and the former Soviet Union, proving of the constant negative for Ukraine movement of resources between Ukraine and the union center, identifying the consequences of such non-equivalent exchange for the population, economy, and nature of the country. The unique role of our country in the maintenance and development of Russia and the Soviet Union, in general, is confirmed on the basis of the analysis of statistical sources, many of which consist of encyclopedic publications, statistical directories, materials of congresses of the communist party, and other sources of the Soviet period, which are difficult to suspect in the submission of advantageous statistics and sympathy for Ukraine. Much attention is paid to the analysis of Ukraine’s role as the breadbasket of the USSR and the traditional looting of Ukrainian grain and other agricultural products, which lasted throughout all the time of the union, and which is now, for hundreds of years, openly carried out by the Russian aggressor on the temporarily occupied Ukrainian lands. The scientific novelty of the article lies in a comprehensive analysis of the economic, social, and environmental consequences of long-term exploitation of the integrated development potential of Ukraine.

PRODUCTION AND EXPORT OF CEREALS AND LEGUMES UNDER THE CONDITIONS OF THE MILITARY

The full-scale war that the russian federation has unleashed against Ukraine has caused a humanitarian and economic catastrophe that is spreading beyond our country. One of the most tragic consequences of this war is the strengthening of the global problem of hunger. The article examines the state and prospects of grain export from Ukraine to foreign markets according to the data of the Ministry of Agrarian Policy and Food of Ukraine during martial law. The main volume of supplies of grain and leguminous crops during the 2022 marketing year has been determined. Based on the analysis of the received data, it was established that the war in Ukraine caused the stoppage or damage of many domestic agricultural enterprises. It was determined that significant negatives were created in the logistics of their supply, both within the country and abroad. The impact of russian aggression on the prospects of supplying Ukrainian grain to the global and domestic food market is proven. A well-founded assumption is made that, as a result of military actions, the reduction of the export of Ukrainian grain products causes an unprecedented increase in food prices on the world market and the aggravation of the global problem of hunger in the world. However, the actual food reserves and planned volumes of agricultural production of our state are sufficient to provide the population with grain. It is noted that the restoration of domestic exports, as in pre-war times, in the proper volume is possible only under the condition of a complete cessation of hostilities, since the possibilities of logistics of transport communications on land routes are insignificant. The relevance of the researched data is reinforced by the implementation of an applied study carried out at the Faculty of Agronomy and Forestry of the Vinnytsia National Agrarian University at the expense of the state budget on the topic: «Development of methods for improving the technology of growing legumes using biofertilizers, bacterial preparations, foliar feeding and physiologically active substances» (state registration number 0120U102034). A system for the purchase of alternative fertilizers is proposed, which will stimulate income to local budgets due to the additional expansion of the production of recommended biological preparations by regional farms. This, in turn, will stimulate the creation of additional jobs in the field of biological support, increase the overall ecological orientation of cultivation technologies and ensure the ecological stability of agricultural territories. This event will contribute to the effective European integration of Ukraine and the general improvement of the quality of the grown products, which will meet world standards in the field of organic and biological agriculture. Ultimately, this will contribute to the successful processes of stabilization of agricultural production in the post-war period and will guarantee obtaining appropriate levels of production at significantly lower levels of costs.

The Ukrainian War’s Impact on Food Security

The war in Ukraine is causing problematic disruptions far beyond the country’s national borders. Black Sea shipping routes have been disrupted to the extent the Ukrainian grain exports are being kept from global markets, thereby jeopardizing food security in some regions of the world. Introduction. As the war in Ukraine approaches its sixth month, the conflict appears to be threatening the supply of grain to several other nations, thereby endangering international food supplies. The disruption to Black Sea shipping routes as a result of the armed conflict not only hinders Ukrainian grain exports to other nations, but also impedes storage capacity for harvested grains since lack of exporting capability means silos remain full and unable to accept newer harvests. Discussion. Antonio Guterres, UN Secretary-General, has warned that the war in Ukraine will worsen food, energy and economic crises in poor countries (Bankova et al, 2022). “It threatens to tip tens of millions of people over the edge into food insecurity followed by malnutrition, mass hunger and famine, in a crisis that could last for years (ibid)” Guterres said.

Economic imperatives of financialization of agricultural commodity markets

Purpose. The purpose of the article is to substantiate the theoretical and methodological foundations and economic feasibility of intensifying the processes of financialization of the business model of Ukrainian grain producers, in particular through the formation of the grain futures market and the creation of commodity exchange in Ukraine. 
 Methodology / approach. In the article, it is clarified the concept of financialization as one of the global trends of economic development that provides deep integration of financial and real economy on macro- and micro levels. Hedge effectiveness of price risks for Ukrainian grain (wheat and corn) using futures contracts traded on CME Group and Euronext is evaluated using regression analysis. Ukrainian wheat and corn FOB price volatility for 2016–2021 marketing years is estimated. The dynamics and volatility of the basis for Ukrainian wheat and corn and respective futures contracts traded on CME Group and Euronext are analyzed. 
 Results. The analysis of securitization index of global agricultural markets has shown an increase of its financialization rate. The main reasons for this process were the deepening of financial and commodity markets integration, deregulation of financial markets and introduction of new financial instruments. The structure of the grain market in Ukraine is analyzed, particularly the role of agricultural holdings and international companies. The tendencies and determinants of wheat and corn market prices in Ukraine during marketing year are revealed. Regression analysis of hedge effectiveness has shown that all considered futures contracts are suitable for wheat and corn CPT and FOB price hedging in Ukraine. The highest hedge effectiveness was revealed for Black Sea Corn Financially Settled (Platts) Futures) (CME Group) and Milling Wheat / Ble de Meunerie (Euronext Matif). Short hedge efficiency of CME Group futures contracts was supported by analysis of basis dynamics for Ukrainian wheat and corn and respective futures contracts. 
 Originality / scientific novelty. Based on the analysis of the theoretical foundations of financialization, the positive and negative consequences of the strengthening of financialization of global commodity markets and the peculiarities of the functioning of the modern grain market in Ukraine, the economic imperatives of the development of the Ukrainian market of grain derivatives, as an objectively determined trend of agricultural commodity market, are substantiated. The evaluation of the effectiveness of hedging price risks on the Ukrainian grain markets using derivatives traded on global exchanges has gained further development.
 Practical value / implications. It is proposed to intensify market tools usage for risk hedging in Ukraine in order to cover interests of all market participants. Risk management instruments available for Ukrainian agricultural producers are discussed.

Global Energy Suffers Invasion Effects

Russia's invasion of Ukraine has thrown the global economy and progress towards net-zero into turmoil. It has been joined by a report from the Intergovernmental Panel on Climate Change which says too many countries are moving too slowly to implement even the Glasgow Climate Pact Alok Sharma rescued in November last year.As he said in marking six months since COP26, there are now more post-invasion supply chain worries.Some further threaten food security. In May, the United Nations Food and Agriculture Organisation estimated that 25 million tonnes of Ukrainian grain could not be exported because of Russian port blockades and damaged infrastructure. It says famines are a risk, so western countries are looking to free up those supplies quickly. Major powers are also acting in broad unison to support Kyiv militarily with materiel. But for energy, the response has been more fragmented, perhaps dangerously so.Energy sales are critical to the Kremlin's ability to fund its war. The UK and US have banned imports of its gas, oil and coal by the year-end but are smaller customers.

THE INFLUENCE OF THE RUSSIAN UKRAINIAN WAR ON GLOBAL AND DOMESTIC FOOD SUPPLY

Under fictitious pretexts, Russia has unleashed an unprovoked war against Ukraine that is spreading beyond our country. One of the most tragic consequences of this war is the intensification of the global problem of hunger. Ukraine and Russia are among the leading suppliers of food to the global market – they account for 25.4% of world wheat exports and 17.6% of coarse grain. Forecasts of declining exports of their grain products have provoked an unprecedented rise in global food prices. The critical dependence of the global food market on Ukrainian agri-food exports has formed in the segment of sunflower oil – Ukraine accounts for almost 50% of the relevant market. As Ukraine’s share in the structure of global sunflower oil production is 30.6%, it is impossible to find a replacement in the short term. Together with the risks of sanctions restrictions on Russian exports, this led to an increase in world prices for sunflower oil from 1,700 to 2,250 dollars for 1 t. Many poor countries that are currently facing a catastrophic food shortage are buyers of Ukrainian grain products – until recently, Ukraine was the main supplier of wheat grain to Ethiopia, Lebanon and Pakistan. Ukraine has been a major supplier of corn grain to China – in 2021 it accounted for 78.3% of Chinese imports of these products. Blocking the export of Ukrainian corn threatens to reduce the number of pigs in China and reduce the production of relevant products. The resumption of Ukrainian agri-food exports in the previous volumes is possible only if the cessation of hostilities, the return of control over all ports and the unblocking of Azov and Black Sea civilian shipping. Because the possibilities of logistics of transport communications on land do not exceed 1 million tons of grain per month. There are grounds for restrained optimism about Ukraine’s domestic food security on the following basis: – the country has stocks of wheat, corn, sunflower oil, basic products for 3-5 years; – according to various forecasts in Ukraine this year is expected to produce cereals and legumes, technical and other crops in sufficient quantities for domestic food supply; – the forced sharp reduction in exports of Ukrainian grain products may lead to its redirection to the feeding of farm animals and increase meat production in areas where there is no fighting.