ASSESSING THE POTENTIAL COMPETITIVENESS OF FOREIGN MARKETS FOR HIGH-MARGIN DAIRY PRODUCTS

Abstract

The article provides an analytical instrument for assessing the potential attractiveness of export markets for high-margin dairy products. The analytical instrumentarium for assessing the potential attractiveness of markets for export is based on the use of the taxonomy method. The benefits of this method are that it allows for a level-by-level quantitative assessment of the state of the region in the form of an integral indicator that combines the impact of all other indicators and involves the implementation of successive stages, including: identification of key criteria for determining the prospects of countries for the supply of high-margin dairy products, formation of a matrix of input indicators (population growth rate, GDP per capita, dairy imports, consumption of dairy products per capita), procedure for standardizing key factors for assessing the potential attractiveness of markets for export. The received estimates are easy to rank and interpret economically. The level of a country’s prospects will reflect the potential amount of dairy exports to that country. The quantitative assessment of the potential attractiveness of foreign markets made it possible to rank the importing countries and select the most promising ones, including: China, Japan, Indonesia, Bangladesh, Malaysia, the Philippines, Nigeria, India, and Vietnam.The proposed analytical toolkit allows for practical annual comprehensive monitoring of the prospects of potential markets for dairy exports, timely informed decisions on changing the export strategy and diversifying markets, and can be recommended for other food and processing industries.