OPPORTUNITIES AND THREATS FOR THE DEVELOPMENT OF AGRIBUSINESS IN UKRAINE IN THE CONTEXT OF MODERN CHALLENGES

Abstract

The current stage of social development puts on the agenda a number of issues and challenges to which agricultural production, being a sensitive sphere of the Ukrainian economy, should respond. Agribusiness has a powerful resource mechanism that will contribute to the further progress of production activities and the implementation of reforms in the countryside. The article examines the current state of agribusiness in Ukraine, outlining a set of traditional and new factors influencing the development of the industry and determining the peculiarities, including innovation, of its current development. Despite the presence of a whole range of economic, social and political problems, the agriculture of Ukraine is developing rapidly. Entrepreneurship within the framework of the global marketing megatrend Super Food for the production of products of predominantly plant origin, in which the concentration of nutrients is very high, can have a significant impact on the development of domestic agribusiness in the future. Ukrainian craft producers are increasingly joining the international Slow Food movement, which is saving the biodiversity of products, recipes and dishes in the world. This opens up opportunities for domestic producers to participate in foreign festivals and further popularize local agricultural products. However, along with an increase in production and in exports, foreign exchange earnings and tax revenues, the following issues are aggravated: strengthening of agricultural logistics in a “pandemic” economy; adaptation of legislation, regulatory framework and technologies in the European Green Deal (EU Green Deal) increasing the social responsibility of agribusiness, its innovativeness, safety, and competitiveness in the domestic and foreign markets. The unstable situation due to the Covid-19 pandemic led to a reduction in acreage and a decrease in demand for fertilizers. There is a reorientation of farming from expensive mineral fertilizers to cheaper analogues; the exhaustive use of soils could lead to their losses in the near future. Threats have been tracked and the main strategic directions for the development of the agribusiness have been identified, which should be guided by to ensure the profitability of enterprises in the long term.