Institutional and legislative regulation of the food market

Abstract

The relevance of the research topic is due to the problem of deterioration in the food quality market and the lack of high-quality products. The aim of the study was to deepen knowledge of food market and explore the reasons for deterioration of product quality; justification of institutional restrictions ensuring market growth is also considered. It was established that adverse changes in the external and internal competitive environment led to a sharp increase in prices of suppliers of manufactured goods without increasing purchase prices by retail chains. It was established that external changes led to an increase in prices of suppliers together with low purchase prices. This prompted to make a profit through worsening product quality. It is substantiated that there exist opportunities for the production of high-quality food. To limit the decommodification of food and create a market for high-quality products it is proposed to adopt a basic law on the food market. Legal acts are aimed at improving regulation of production, market circulation, environmental purity and genetic integrity. The novelty of the work relates to the fact that in the country with rich resources a new growth axis will be formed. This axis seems to be attractive for investment.