Modeling the Expansion of Agricultural Markets

Abstract

This research aimed to develop methodological approaches that can be applied by agricultural entities to select economic activities in the context of effective and efficient foreign economic cooperation. Based on scenario forecasting, the Republic of Bashkortostan's possible agricultural output was calculated. If the potential is fully realized, exports of farm products could increase by $108.3 billion or 68,1 % by 2024. A mechanism for agro-food producers to overcome external and internal market barriers by choosing strategic export products in the region was developed. This will help users predict possible problems of entering foreign markets, estimate the accessibility of a particular market, and the feasibility of foreign economic activities. A step-by-step assessment revealed challenges in formulating the agricultural products export policy for the Republic of Bashkortostan. The identified hurdles require government intervention so that agricultural producers and state authorities can jointly address the challenges.