BIOTETHANOL MARKET MODEL ANALYSIS AND UKRAINE BIOFUEL EXCHANGE DEVELOPMENT

• Main Author: N. Melnyk
• Format: Article
• Language: English
• Published: Zhytomyr National Agroecological University 2020-06-01
• Series: Наукові горизонти
• Subjects: analysis; market model; biofuels; biofuel exchange
• Online Access: https://sciencehorizon.com.ua/en/journals/6-91-2020/analiz-modyeli-rinku-bioyetanolu-ta-rozvitok-birzhi-biopaliva-v-ukrayini

Under current conditions the alternative energy development and bioenergy fuels use issues are actual for an energy-dependent country. The main strategic goals of the state in the national bioenergy fuels production which make it possible to determine the main advantages and priorities of the industry or market are presented in the research paper. Econometric models of Ukraine bioethanol market development and functioning have been studied and presented. Correlations between bioethanol market variables have been established, regression equations of five models of this market have been obtained and their adequacy analysis was carried out. Graphic representation of the bioethanol market was presented, and the main indicators that affect the development of this market were identified in the process of bioethanol market variables study. Economic and mathematical justification and correlation matrix using software statistical environment - "R", while least squares method and the stepwise regression method were used in the process of bioethanol market models design and researching. The purpose of the study is to analyze bioethanol market models in Ukraine, biofuel exchange development and implementation. Ukrainian bioenergy fuels market is quite problematic and has a number of obstacles and shortcomings, which negatively affect this market infrastructure. The state regulation should be performed in order to regulate relations at the biofuel market. Electronic trading platforms in the form of bioenergy fuels exchange implementation is one of the fundamental bioenergy fuels market state regulation directions. Bioenergy fuels exchange functioning advantages are revealed during the research. Biofuel exchange structure as one of the main tools for between producers and consumers of biofuels relationship settling has been presented. The development of the biofuel market in Ukraine is extremely relevant and needs further research, especially in the process of state regulation and state support in this area.