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The aim of the paper was to identify the changes in bilateral trade in agri-food products between the EU and China, as well as to assess – in mutual relations – ex post competitive advantages of major groups of agri-food products in 2008– 2015. The research is based on data from the Statistical Office of the European Union (Eurostat). The analysis covered the value, trade balance, shares in total trade and commodity structure of trade in agri-food products between the EU and China. Selected indices of revealed comparative advantage (XRCA, MRCA, RTA), Coverage Ratios (CR), Specialization Indicators (SI), and the indices of Intra-Industry Trade (IIT) were calculated for major product groups of the Combined Nomenclature. It was proved that bilateral trade in agri-food products between the EU and China has increased signifi cantly in 2008–2015, and the EU transformed from an importer to a net exporter. Despite the intensification of mutual trade, the importance of China in the EU export of agri-food products remained relatively small. The structure of bilateral trade in agri-food products between the EU and China is consistent with the distribution of comparative advantages obtained by exporters and it is shaped under assumptions of the theory of similarity of preferences, the theory of product differentiation of the Armington type, and the Heckscher-Ohlin-Samuelson theorem of resources abundance. It can be considered that the Chinese agri-food sector is still in the stage of a factor-driven economy, while the agriculture and food industry in the EU countries has reached the stage of an innovation-driven economy.
Main attention of this contribution is devoted to the interpretation and measurement of competitiveness as well as to the factors of competitiveness of the agrofood sector on the commodity-sector level and to identify which commodities affect the macroeconomic charac­teristics of competitiveness of the Slovak economy and search by this away for the link between macroeconomic characteristics and the characteristics of competitiveness in the commodity-sector disaggregation.
The aim of the paper is to display and compare two options strategies which may be applied in hedging currency risk. It considers Polish agri-food companies which export their products to Eurozone countries. Their functioning and profitability is affected by PLN/EUR exchange rate fluctuation. In the paper the applications of financial vanilla and exotic options in hedging currency risk are presented. It is shown that the risk reversal strategy with barrier option reflects better hedging results than the synthetic short forward strategy which involves only the standard vanilla options.
The study is an attempt to define role of countries from African, Caribbean an Pacific region in the EU agri-food trade and to examine the competitive position ofi agri-fiood products made in the EU on the markets of ACP group of states in years 2000-2008. Selected ex post indicators of competitive position were used in the paper.
The aim of the paper is to assess main trends and changes in commodity structure of Polish agri-food trade in 2003-2006. Joining in the Common Market and adopting the Common Trade Policy rules caused the significant growth of Polish agri-food trade values and improvement in the positive trade balance. Taking into account loss or reduction of some cost advantages, as well as liberalization of world agricultural trade, next years can be much more difficult for Polish exporters. The highest export potential applies to trade in animal origin products. Considering commodity structure of Polish agri-food trade, it should be said that processed products dominate both in export and in import.
After the WTO accession, Ukraine will face a new stage in trade relationships with traditional partners - EU countries. Due to the integration processes in Europe, the importance of structural changes in relationships between European Union and Ukraine is significant. The EU has enlarged to 27 member states, with Poland, Slovakia, Hungary and Romania all directly bordering Ukraine. At the same time, Ukraine comes back to the leading positions at the world agri-food markets. In this context, we analyse the main indexes of relative trade advantages.
The European Union member states are main trading partners of Poland. They accounted for over half (51.6%) of the turnover in farm and food trade in 2003. The main partners on the export side are: Germany, Netherlands, Great Britain and Italy; and on the import side are Germany, Netherlands, Spain and Italy. Trade in farm and food goods with the European Union was favourable for Poland for the first time since 1993. The trade balance in 2003 closed with a surplus of 218 mln USD. A positive trade balance also occurred in 2004. Poland has gained trade advantages in the food sector after integration with the EU.
This paper presents the possible development scenario of the Polish agricultural sector till 2020. It also assesses the impact of macroeconomic growth, CAP reforms and worldwide policies towards the agriculture on this development. The scenario is build using an extended version of the Global Trade Analysis Project model GTAP which is a computable general equilibrium model of the world economy. The analysis shows that the growth of Polish agri-food sector observed after accession to the European Union will be prolonged in the future and will lead to an increase of agrifood sector incomes. However, it is expected that the positive trade balance in agri-food products will decrease significantly in consequence of the world trade liberalization and the EU policy stimulating biofuels production.
Some possible scenarios of development of trade, production, demand and prices in the agri-food sector of the Common Market of the South (MERCOSUR) are presented in the paper. A mathematical model of general equilibrium Global Trade Analysis Project (GTAP) was used to make trade forecasts. The results of the analysis showed that the escalation of global agri-food trade liberalization may lead to a growth in the export and import of animal products and sugar and, consequently, may result in an increase in prices and a drop in demand for these goods.
With a view of strengthening health of the person the food industry starts to be reoriented on manufacture of functional food stuffs with the additional maintenance of valuable food substances. Worldwide demand for such production has sharply raise. Application of a new bioactive preparation on the basis of iron and selenium nanopowders for processing vegetative raw materials in manufacture of functional food stuffs can noticeably raise profitableness and competitiveness of the enterprise.
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