MICROECONOMIC ANALYSIS GLOBAL GRAIN MARKET

Keywords: grain, world grain market, demand, supply, price in the grain market, grain market conditions

Abstract

The purpose of the article is a microeconomic analysis of the world grain market, identifying trends in its functioning and factors influencing the prospects for development. The grain market is an integral part of the global food market, creating certain challenges, opportunities and risks for producers. The ability to respond quickly to global trends in grain prices is an important tool in the system of measures to increase the competitiveness of agricultural products. This will, in turn, predict and adapt the industry to global trends in the world agricultural market. The grain industry provides food security, welfare and competitiveness of every country in the world. In the context of increasing globalization, grain products are the priority in overcoming world hunger. Therefore, microeconomic market research is a necessary condition and guarantee of a thorough analysis and assessment of the world grain market. Among the main features of the modern world grain market, the authors identified: increasing the importance of the yield factor for further growth of grain production, concentration of exports and diversification of grain imports, structural changes in grain consumption, acceleration of international grain trade. The article is devoted to topical issues of microeconomic analysis of the state of the world grain market. On the basis of world statistics, the analysis of the dynamics of the main indicators of the world grain market: demand, supply, prices, has been carried out. In particular, trends in the consumption and production of cereals were identified in connection with modern challenges in the world. The main directions of the use of grain are characterized and the importance of grain as a commodity that forms the food security of each country is indicated. Attention is focused on the fact that the high volatility of prices for grain products is determined by the dynamic conjuncture of changes in global supply and demand. A number of factors are given that affect the fluctuations in the world grain price, namely: climatic conditions, the Chinese factor, the policy of protectionism of the main grain exporters. It was revealed that in recent years, the volume of grain trade (export-import) has been growing, which is due to the growth of the world's population and climatic changes.

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Published
2021-02-23
How to Cite
Lotysh, O., & Kardash, A. (2021). MICROECONOMIC ANALYSIS GLOBAL GRAIN MARKET. Economy and Society, (24). https://doi.org/10.32782/2524-0072/2021-24-29
Section
ECONOMICS