GRAIN EXCHANGE AS A SELF-REGULATING ORGANIZATION IN THE MARKET OF AGRICULTURAL PRODUCTS
Keywords:
Key words, exchange, stock market, spot, forward, futures, simple warehouse certificate, agricultural market, grain exchange, grain market, exchange commodity market.Abstract
Leschuk Yu.A. GRAIN EXCHANGE AS A SELF-REGULATING ORGANIZATION IN THE MARKET OF AGRICULTURAL PRODUCTS
Purpose. The aim of the article is to substantiate scientific and methodical approaches to the program of development of the grain exchange, as a self-regulatory organization in the stock market of agricultural products.
Methodology of research. The following general scientific methods are used in the process of research: monographic and dialectical – for collecting, systematizing and processing information for the purpose of conducting research on state regulation of marketing of agricultural products, taking into account the self-regulatory function of the commodity exchange, as well as theoretical generalizations; the method of synthesis and comparison – in order to analyze the mass statistical data necessary for the assessment of the state, the study of variation, dynamics and comparison of indicators on the stock commodity market; analytical, abstract and logical – to identify trends in the development of the exchange market for agricultural products in Ukraine. In addition to the general scientific, the following special methods of research are used: economic and mathematical modelling – to develop a normative model of target, intervention and export prices for grain of agricultural commodity producers in stock market activities.
Findings. It is determined that the use of simple warehouse certificates in economic activity will allow Ukrainian grain producers to insure the price of future harvest through futures contracts, which prompts the improvement of the current stock market situation in Ukraine.
Originality. The scientific novelty of the research results is to determine the scientific basis for the concept of the organizational and economic mechanism of grain sales with the participation of the commodity exchange, which characterize the system of interconnected and interacting elements of the grain market infrastructure on the basis of public-private partnership using the methods and tools of organizational and managerial and financial and economic character, serving to harmonize the economic interests of agricultural producers, state, stock exchanges, storage and processing enterprises, information and consulting centres and population in order to ensure food security and strengthen the position of Ukraine as a global grain exporter.
Practical value. The practical significance of the research results is the formation of the organizational and economic mechanism of state regulation of sales of agricultural products taking into account the commodity exchange on the basis of basic principles, methods, methods and means and its rational use, which allows to adequately respond to changes in the agrarian sector of the economy in order to achieve the target results.
Key words: exchange; stock market; spot; forward; futures; simple warehouse certificate; agricultural market; grain exchange; grain market; exchange commodity market.
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