ECONOMIC ESSENCE AND MECHANISMS OF FORMING THE MARKET FOR DEEP PROCESSED CORN PRODUCTS IN UKRAINE
Abstract
It has been determined that the formation of the market for deeply processed corn products in Ukraine is a complex economic process that reflects the interaction of production, investment, marketing, and regulatory factors in the agro-industrial complex. The key factors in the formation of the market for deeply processed corn products in Ukraine include the following groups: production; economic and financial; marketing and market; innovation and technology; regulatory and legal; social and demographic. This study focuses on production factors, in particular on the volume of corn production as a raw material for further deep processing. According to FAO data, Ukraine is among the group of countries that export this crop and has significant potential both for exporting corn to the world market, influencing the global supply of this product, and for deep processing of raw materials within the country, which is an economic tool for the development of the market for deeply processed corn products in Ukraine. Deep processing of corn creates added value, jobs and tax revenues in the producing regions. Cluster effects are formed: equipment suppliers, logistics, laboratory services, service companies. The main economic instruments and mechanisms for supporting the development of the market for deeply processed corn products in Ukraine are also presented. It has been determined that Ukraine has a combination of natural resources, production potential and logistical capabilities that make the market for deeply processed corn products economically viable and promising. To realise this potential, coordinated action by market and state actors is needed: the development of contract trading, incentives for investment in processing and logistics, support for clusters and R&D, as well as risk insurance and hedging mechanisms. The successful combination of these market mechanisms will transform Ukraine's competitive raw material advantage into a sustainable competitive field in the high value-added product segment.
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