INSTITUTIONAL SUPPORT FOR FORMATION OF EFFICIENT LOGISTIC CHAINS OF COMMODITY MARKETS IN EXTERNAL DIMENSION

Abstract

Topicality. Modern trends in the formation of institutional support for logistics chains of commodity markets, led to the urgent need to consider them on the example of the food market. The integration of domestic agricultural enterprises into value chains is fundamentally important for the development of Ukraine's agricultural industry. Participation in such logistics chains provides a synergistic effect that allows participants, stakeholders to join forces to achieve their goals and objectives and generally improves competitiveness in food markets, including foreign ones. Possibility of control of a logistic chain of creation of the added value and rich positive experience of development of integration allows to activate available commodity potential objects and objects. Economic policy and the interest of stakeholders in logistics product chains, which is why it is formed and implemented through the prism of institutional support in the external dimension.Аim and tasks. The purpose of the article is to substantiate the theoretical and methodological provisions and to develop practical recommendations for the formation of logistics chains to add value to the provision of foreign commodity markets in their markets.Research results. Analysis of the problems of efficiency of global agri-food value chains and a specific market participant, allows you to study agricultural enterprises in this chain and the links between them to see how and when they can be strengthened to achieve production and marketing efficiency; or to facilitate a more efficient vertical and horizontal flow of information, production factors and resources. Such an analysis may reveal efficiency constraints related to a specific feature of global agri-food value chains in commodity markets. Both developed and developing countries must be able to take advantage of global food value chains. Recent data show that as countries participate in global value chains of commodity markets, the growth rate of their gross domestic product increases. Value chains play an important role as a source of job creation. Thus, trade and supply in food hubs within the logistics chains of food markets stimulates the development of logistics as a critical component of global chains, as it is extremely important to supply products in the right quantity, the right quality, on time. The study also focuses on general market factors that affect the efficiency of specific value chains in the external dimension: legislative, regulatory and political environment; availability and quality of support services such as funding, training and information technology.Conclusions. Thus, the formation of efficient logistics chains allows to strengthen ties, cooperation between agricultural enterprises and multinational corporations through a transparent regulatory and investment environment in Ukraine. The ability of agri-food entities to withstand the effects of negative institutional factors, crises, adaptively and promptly make adjustments and respond to changes in the market environment in the agri-food market. The concept of integrating the mechanisms of domestic agri-food markets into global value chains makes sense, as it can bridge the gap between government policy and the realities of the food business.