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Paper short abstract:

This article examines the current trends in the development of world commodity markets. Speacial attention paid to the influence of the modern wave of scientific approaches to the study of markets taking into account the cyclical development of the world economy at the beginning of the 21st century

Paper long abstract:

Current trends in the development of world commodity markets are explained with new market conditions: changes in the ratio of market-forming factors. Historically, World Commodity markets occur earlier than the world economy. The world commodity market is characterized by a complex hierarchical structure and is formed under the influence of economic, political and social factors, which allows us to consider it as a large system with a developed infrastructure, relatively autonomous behavior of its constituent elements or subsystems that are in daily interaction with their General high activeness and ability to adapt.

The process of globalization of the world market takes place in a number of directions:

- globalization of the legal and regulatory framework for international trade;

- emergence of globalized clients and global unified contracts;

- competition for profitable (in terms of price or quality) raw materials in the international market;

- formation of a single statistical base for world trade.

The structure of the Word commodity markets is constantly evolving. There are four groups of markets: markets of traditional goods (fuel, machinery and equipment, agricultural products, clothing, footwear, ferrous and non-ferrous metals, precious metals and precious stones, etc.); markets of the latest (high-tech) products (electronic devices, weapons and military equipment, information carriers, pet products, etc.). Special attention is paid to the impact of the current wave of scientific approaches to the study of markets, taking into account the cyclical development of the world economy in the early twenty first century, the severity of macroeconomic shocks, the impact of scientific and technological progress, and changes in natural and climatic conditions.

Approaches and methods of analysis of studying the markets of individual products are currently topical for Uzbekistan.

Advanced information and communication technologies and innovations in exchange activities are widely used for the convenience of business entities, and they are given the opportunity to choose better products and services at more affordable prices. Creating a competitive environment through the creation and implementation of state programs to promote markets is important for the functioning of commodity markets. These measures include;

1. formation of regulatory and legal acts that promote exchange trade in goods, simplifying the mechanism for organizing exchange trade with the introduction of communication technologies;

2. regulation of monopoly of large companies;

3. introduction of market pricing as a condition and necessity of competition in the markets;

4. further reform of the state tax system to ensure entrepreneurial activity of businesses;

5. diversification of exports and analysis of the commodity structure of imports, the formation of a specific list of analogue-products, taking into account the availability of material resources, local human resources and comparative cost estimates.

Market analysis and the ability to have information about the market gives certain advantages, as it allows you to reduce risks when making important decisions such as entering new markets, producing new goods or services, developing new business ideas, expanding existing production and business.