Pricing in world commodity markets of various types. Pricing in international markets

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This topic deals with the basic issue of the functioning of the world market for goods and services - pricing in world trade. The analysis begins with clarifying the essence of the concepts of price and price-forming factors, the practice of making decisions on determining export prices. The pricing mechanism in the world market is determined mainly by the type of market organization, the variants of which are presented in the second question of the topic. This topic provides a systematization of international market prices, analyzes the practice and methods of their use. After processing this topic, you:

Find out the essence of the concept of price and the factors that determine it;

Familiarize yourself with the practice of applying export prices based on the terms of delivery of goods;

You will be able to analyze markets in terms of their organizational and functional structure;

You will know the essence of dumping policy, types of dumping and anti-dumping protection;

Learn to determine the foreign trade price using various reference bases.

1. Fundamentals and features of pricing in the world market.

2. Pricing in the world commodity markets.

3. Practice and methods for determining foreign trade prices.

Fundamentals and features of pricing in the world market

In a market economy, pricing in foreign trade, as well as in the domestic market, is carried out under the influence of a specific market situation. First, let us recall what price is, including on the international market.

Price is the amount of money that the seller hopes to receive by offering a product or service, and that the buyer is willing to pay for this service or product. The coincidence of the above requirements depends on many conditions, which we call pricing factors. By nature, level and scope, they can be grouped into five blocks.

General economic.

They operate regardless of the type of product and the specific conditions of its production and sale. These include:

Business cycle;

The state of aggregate supply and demand;

inflation.

Specific economics.

They are determined by the characteristics of this product, the conditions of its production and sale. These include:

Expenses;

Profit;

Taxes and fees;

Demand and supply for a given product or service;

Consumer property: quality, reliability, prestige, etc.

Specific.

Valid only for certain types of goods and services:

seasonality;

Operating costs;

Completeness;

Warranties and conditions of service. Special.

Associated with the operation of special mechanisms and economic instruments:

State regulation;

Exchange rate. Non-economic:

political;

Military.

The process of pricing in the world market has its own characteristics. This, in particular, concerns supply and demand, in the world market there are subjects of foreign trade and are felt much more acutely. This is mainly influenced by much sharper competition, complicated in comparison with the national economy, the movement of goods and factors of production.

Regarding world prices: in practice, these are the prices of large export-import contracts concluded in the main centers of world trade, which are large exchanges, auctions, etc., or expressed in systematic export-import shares. A characteristic feature of world prices is their multiplicity for the same or similar goods.

Practically, the price of a product is affected by:

Purchasing demand of the buyer of this product;

Demand (how much a buyer is able to buy a product);

The usefulness of the product, its consumer properties.

On the supply side, the following main pricing factors are:

Costs of production and circulation in the sale of goods on the market;

The number of goods offered by the seller on the market;

Prices for resources and means of production that were used in production.

In the practice of foreign economic activity, decisions on export prices are made based on the terms of delivery of export products. There are the following main conditions of commercial offers.

1. Offer free-of-charge. This assumes that the export price is paid for the commodity that is in the exporter's ascending point. The exporter bears all export costs.

2. Offers on the terms of FOV.

First option. Conditions - free wagon - specified point of departure. This option provides that the seller pays all costs up to and including loading. Transportation and other costs associated with exports are the responsibility of the importer.

Second option. Conditions - free wagon - the specified point of departure with prepaid transport costs to the destination. In this situation, the buyer does not pay the carrier the cost of transport costs.

Third option. Conditions - free wagon - the specified point of departure with the inclusion in the price of the cost of transportation. This option differs from the previous one in that the exporter deducts from the invoiced value of the goods the cost of its transportation, which is paid by the importer at the destination.

Fourth option. The exporter and importer agree that the price includes the costs of transportation to the destination. Under this condition, the exporter pays the cost of transportation, and the buyer assumes all other costs.

Fifth option. The exporter pays all costs for the delivery of goods to the importer's vehicle.

Sixth option. Franco-destination in the importing country. The exporter bears all costs for the delivery and handling of the cargo to the agreed destination.

8. Offer on FAS terms.

In cases of delivery of goods under these conditions, the exporter includes in the price of the goods the costs of delivering the goods to the berth and placing it along the side of the ship or berth indicated by the buyer. The exporter bears the costs of paying for cargo work and is also responsible for accidental damage or loss of goods.

4. Offer on CAF terms.

This form of pricing has another name - "cost plus freight" to the port of destination. Under this condition, the exporter includes in the price the cost of transporting the goods to the destination specified by the importer, as well as all other delivery costs.

5. Offer on CIF terms.

In this form of pricing, the exporter, in addition to the listed obligations under the CAF, assumes obligations for marine insurance.

6. Offer free-of-charge.

Under this condition, the exporter adds to the cost of the goods all additional costs for its delivery to the port of destination of the exporting country, payment of duties and placement on the berth.

When analyzing and working with world market prices, keep in mind the following:

1. The situation "the curvature of the ratio of supply and demand."

2. The market may be dominated by "bid prices" or "bid prices". Hence the concept of "buyer's market" and "seller's market".

3. Impact on the prices of related (accompanying) services (pre-sales, sales and after-sales).

4. The impact of the latest technologies on prices (the impact is twofold - increase and decrease).

5. Prices are influenced by the phases of the business cycle.

Price- this is the amount of money that the seller intends to receive by offering a product or service, and which the buyer is willing to pay for this product or service. The whole variety of economic factors affecting world prices can be conditionally combined into several groups:

General economic factors (phase of the economic cycle, supply and demand, inflation rate, etc.);

Factors associated with the production of a particular product (costs, profits, tax levels, consumer properties of the product, supply and demand);

Specific factors that are associated only with certain types of goods and services (seasonality, guarantees, etc.) or with the peculiarities of monetary policy, etc.

In addition to economic factors, political or military factors can also influence prices.

The price level for each product in the world market is determined taking into account the specific market situation, and, above all, it depends on the ratio of supply and demand and the level of competition in this market. The world price is accepted by the prices of large export-import transactions concluded in the world commodity markets. Usually these are the prices of transactions between the largest sellers and buyers or the prices of major trading centers, such as the London Metal Exchange or the Chicago Mercantile Exchange. The rest of the market participants, when concluding transactions, are guided by these prices.

Pricing in world markets largely depends on the type of market. Depending on the number of subjects of trade and the nature of competition, the market of perfect competition, pure monopoly, monopolistic competition and the market of oligopolistic competitors are distinguished.

In a perfectly competitive market characterized by a large number of buyers and sellers and homogeneous products, prices tend to converge.

In the global market, the pricing process has peculiarities.
The interaction of supply and demand in the conditions of the world market is felt by the subjects of foreign trade much more strongly than by suppliers of products in the domestic market. A participant in international trade faces a greater number of competitors in the market than in the domestic market. He must see the world market before him, constantly compare his production costs not only with domestic market prices, but also with world ones. The manufacturer-seller of goods on the foreign market is in a constant "price stress" mode. Significantly more in the international market and buyers.

Within the world market, factors of production are less mobile, since the freedom of movement of goods, capital, services and labor is much lower than within one particular state. Movement is constrained by national borders, currency relations, which counteracts the alignment of costs and profits.

In the world market, cases of “distortion in the balance of supply and demand” are possible. In the case of a high demand for a product, a situation may arise in which a product produced in the worst conditions at a national price will enter the market, which in essence will determine the world price for some time. Conversely, often the supply greatly exceeds the demand. Then the bulk of sales falls on those subjects of international trade, the production conditions in which are the best, and prices are lower. Even if the largest producer of a product in any country is the largest supplier of this product to the national market, this does not mean that it will take a leading position in the world market. Often, on the international market, most of the goods are sold by countries that are not, from an economic point of view, large and powerful powers.

When working with world market prices, differences in them should be taken into account, taking into account the positions of individual parties and the market situation. Depending on the market situation, a "seller's market" arises, in which, due to the predominance of demand, commercial indicators and prices are dictated by the seller, and a "buyer's market", in which, due to the predominance of supply, the buyer dominates and the situation in terms of prices is the opposite. But this market situation is constantly changing, which is reflected in prices.

When determining prices, one should also take into account the phase of the economic cycle, which has a certain specificity in the field of international economic relations. So, in the stage of depression, prices, as a rule, do not rise. And, on the contrary, in the stage of rise, due to the excess of demand over supply, prices increase.

It should be noted that depending on the type of goods and product groups, the dynamics of price changes is different. Thus, when the market conditions change, prices change most sharply and rapidly for almost all types of raw materials, the reaction of manufacturers and suppliers of semi-finished products is slower, and the “price reaction” to the products of the machine-building complex is even weaker.

Prices in the world market according to sources of information, scope and method of use are usually divided into several groups.

The contract price is the price agreed between the seller and the buyer during the negotiation process. It, as a rule, is lower than the seller's price, does not change during the entire term of the contract and is a trade secret, but, as a rule, these prices for certain goods in a particular region and in the presence of a small number of sellers and buyers are known.

Reference price - the price of the seller, published in special reference publications and in the periodical press. These prices are set for non-exchange commodities and semi-finished products. But it must be borne in mind that there is always a certain difference between the reference and actual prices. As a rule, reference prices are always overestimated, as they do not respond to changes in market conditions. These prices do not react quickly to market changes or political events, but reflect price dynamics in a given market and trends.

Exchange prices - prices for goods sold on commodity exchanges. Basically, these are raw materials and semi-finished products. These prices promptly reflect all the changes that have taken place in the markets. But since exchange prices do not take into account the terms of delivery, payment and a number of other factors, these prices do not fully reflect the actual trends in price changes.

Auction prices - prices established as a result of bidding. They really reflect the demand and supply of goods in a given period of time.

Statistical foreign trade prices are average prices published in various statistical collections. Using them, it is only possible to trace the dynamics of changes in prices and foreign trade; for individual market participants, they can only serve as a guideline.

CONTENT

1 Fundamentals and features of pricing in the world market……………...3

2 Pricing in various world commodity markets……….....…….8

2.1 The market of perfect (pure) competition…………………………..…..8

2.2 Pure monopoly market………………………………………………..……9

2.3 Monopolistic market……………………………………….............. 10

2.4 Competition market of few suppliers – oligopoly………….....10

Conclusion……………………………………………………………………..13

List of used literature………………………………………...…….15

1 Fundamentals and features of pricing

on the world market

When analyzing the processes associated with pricing in world commodity markets, it is necessary to carefully study all the factors influencing price formation, both of a general nature and purely applied ones. It depends on prices which costs of producers will be reimbursed after the sale of the goods, which are not, what is the level of income, profits and where they will be, and whether resources will be directed in the future, whether there will be incentives for further expansion of foreign economic activity (FEA).

In a market economy, pricing in foreign trade, as well as in the domestic market, is carried out under the influence of a specific market situation. In principle, the very concept of price is similar both for the characteristics of the domestic market and for the characteristics of the external one. Price, including in international trade, - This is the amount of money that the seller intends to receive by offering a product or service, and which the buyer is willing to pay for this product or service. The coincidence of these two requirements depends on many conditions, called "pricing factors". By nature, level and scope, they can be divided into five groups listed below.

general economic, those. acting regardless of the type of product and the specific conditions of its production and sale. These include: the economic cycle; the state of aggregate demand and supply; inflation.

Specifically, economic those. determined by the characteristics of this product, the conditions of its production and sale. These include: costs, profits, taxes and fees, supply and demand for this product or service, taking into account interchangeability, consumer properties: quality, reliability, appearance, prestige.

specific, those. valid only for certain types of goods and services: seasonality; operating costs; completeness; guarantees and terms of service.

special, those. associated with the operation of special mechanisms and economic instruments: state regulation; exchange rate.

Non-economic, political; military.

As noted above, prices are determined by the conditions of competition, the state and ratio of supply and demand. However, in the international market, the pricing process has its own peculiarities. With this in mind, the effect of the above groups of pricing factors should also be considered. Take supply and demand for example. It is known that the correlation of supply and demand in the conditions of the world market is felt by the subjects of foreign trade much more acutely than by suppliers of products in the domestic market. A participant in international trade faces a greater number of competitors in the market than in the domestic market. He must see the world market before him, constantly compare his production costs not only with domestic market prices, but also with world ones. The manufacturer-seller of goods on the foreign market is in a constant "price stress" mode. Significantly more in the international market and buyers. Secondly, within the world market, factors of production are less mobile. No one will dispute the fact that the freedom of movement of goods, capital, services and labor is much lower than within one particular state. Their movement is constrained by national borders, relations in the monetary sphere, which counteracts the alignment of costs and profits. Naturally, all this cannot but affect the formation of world prices. Under the world prices are understood the prices of large export-import transactions concluded in the world commodity markets, in the main centers of world trade. concept "global commodity market" means a set of stable, recurring transactions for the purchase and sale of these goods and services, which have organizational international forms (exchanges, auctions, etc.), or are expressed in systematic export-import transactions of large supplier firms and buyers. And in world trade, the factors under the influence of which market prices are formed, first of all, naturally include the state of supply and demand.

Practically, the price of the offered goods is affected by:

effective demand of the buyer of this product, i.e. simply put, the availability of money;

volume of demand - quantity of the goods which the buyer is capable to get;

usefulness of the product and its consumer properties.

On the supply side, the constituent pricing factors are:

the quantity of goods offered by the seller on the market;

costs of production and circulation in the sale of goods on the market;

prices for resources or means of production used in the production of the relevant product.

A common factor is the substitution of the goods offered for sale by others that satisfy the buyer. The level of world prices is affected by the payment currency, payment terms and some other, both economic and non-economic factors.

In the world market, cases of “distortion in the balance of supply and demand” are possible. In the event of a huge demand for a product, a situation may arise in which a product produced in the worst conditions at a national price will be thrown onto the market, which in essence will determine the world price for some time and which will certainly be very high. Conversely, often the supply greatly exceeds the demand. Then the bulk of sales falls on those subjects of international trade, the production conditions in which are the best, and prices are lower. (In this context, it is worth noting the following nuance: even if the largest producer of a product in a country is the largest supplier of this product to the national market, this does not mean that it will take a leading position in the world market. Often, in the international market, most goods are sold by countries that are not, from an economic point of view, large and powerful powers.).

When working with market prices, including foreign trade prices, one should take into account the differences in them, taking into account the positions of individual parties and the market situation. First, there are the concepts of "seller's price", i.e. offered by the seller, and therefore relatively higher, and "buyer's prices", i.e. accepted and paid by the buyer, and therefore relatively lower. Secondly, depending on the market situation, the "seller's market", in which, due to the predominance of demand, commercial indicators and prices are dictated by the seller, and the "buyer's market", in which, due to the predominance of supply, the buyer dominates and the situation in terms of prices is the opposite. But this market situation is constantly changing, which is reflected in prices. And this means that it should be the subject of constant observation and study. Otherwise, very serious errors are possible in determining prices.

In the last two or three decades, an important role in the pricing of goods, especially in world trade, has been played by related services provided by the manufacturer and supplier of any product to the importer or end user. We are talking about the generally accepted terms of delivery: maintenance, warranty repairs, other specific types of services related to the promotion, sale and use of goods. This aspect is especially important in modern conditions, in the period of the development of high technologies, the complication of machines and equipment. There are known examples when the cost of services in the export of equipment and machinery accounted for 60 percent of the supply price.

The development of science and technology, influencing the improvement of the qualitative characteristics of the goods, on the other hand, affects world prices. The introduction of new technologies increases labor productivity, production efficiency, and reduces labor costs. Under the conditions of scientific and technological revolution, in absolute terms, the price is growing for almost all groups of goods. However, taking into account the so-called. useful effect (for example, increases the speed, reliability, etc.) the relative cost of the product, and hence its price for the consumer is reduced.

When analyzing prices, one should also take into account the movement of the economic cycle, which has a certain specificity in the field of international economic relations. So, in the depression stage, prices usually do not rise. Conversely, in the upswing stage, due to the excess of demand over supply, prices increase. (Although both are slowly spreading to international trade, depending on the scope and depth of these phenomena, and even more so in the phase of crisis and recovery). It should be noted that depending on the type of goods and product groups, the dynamics of price changes is different. Thus, when the market conditions change, prices change most sharply and rapidly for almost all types of raw materials, the reaction of manufacturers and suppliers of semi-finished products is slower, and the “price reaction” to the products of the machine-building complex is even weaker.

In a market economy, pricing in foreign trade, as well as in the domestic market, is carried out under the influence of a specific market situation. The price, including in international trade, is the amount of money that the seller intends to receive by offering a product or service, and which the buyer is ready to pay for this product or service. The coincidence of these two requirements depends on many conditions, called pricing factors. By nature, level and scope, they can be distinguished:

1. General economic- acting regardless of the type of product and the specific conditions of its production and sale:

Business cycle;

State of Aggregate Supply and Demand"

Inflation.

2. Specifically economic- determined by the characteristics of this product, the conditions of its production and sale:

Costs;

Profit;

Taxes and fees;

Supply and demand for a specific product or service, taking into account fungibility;

Consumer properties: quality, reliability, appearance, prestige.

3. Specific- valid only for certain types of goods and services:

seasonality;

Operating costs;

Completeness;

Warranties and conditions of service.

4. Special- associated with the operation of special mechanisms and economic instruments:

State regulation;

Exchange rate.

5. Non-economic:

political;

Military;

Religious;

Ethnic, etc.

Features of the pricing process in the international market. The ratio of supply and demand in the conditions of the world market is felt by the subjects of foreign trade much more acutely than by suppliers of products in the domestic market. A participant in international trade faces a greater number of competitors in the market than in the domestic market. Significantly more in the international market and buyers. Within the world market, the factors of production (of goods, capital, services and labor) are less mobile. Their movement is constrained by national borders, relations in the monetary sphere, which counteracts the alignment of costs and profits. All this cannot but affect the formation of world prices.

World prices - prices of major export-import transactions concluded in the world commodity markets, in the main centers of world trade. World commodity market- a set of stable, repetitive transactions for the purchase and sale of these goods and services that have organizational international forms (stock exchanges, auctions, etc.), or are expressed in systematic export-import transactions of large supplier and buyer firms.

Market prices are also formed in world trade, primarily under the influence of supply and demand. On the demand side, they are affected by:

The solvent demand of the buyer of this product is the availability of money;

The volume of demand is the quantity of goods that the buyer is able to purchase;

The usefulness of the product and its consumer properties.

On the supply side, the constituent pricing factors are:

The quantity of goods offered by the seller on the market;

Production costs (including prices for resources or means of production) and circulation in the sale of goods on the market;

A common factor is the substitution of the goods offered for sale by another that satisfies the buyer (substitute goods). The level of world prices is affected by the payment currency, payment terms and some other economic and non-economic factors.

When working with market prices, including foreign trade prices, one should take into account the differences in them, taking into account the positions of individual parties and the market situation. First, there are concepts seller price, i.e. offered by the seller, and therefore relatively higher, and buyer price, i.e. accepted and paid by the buyer, and therefore relatively lower. Secondly, depending on market conditions seller's market, in which, due to the predominance of demand, the commercial indicators and prices are dictated by the seller, and buyer market, in which, due to the predominance of supply, the buyer dominates and the situation in terms of prices is the opposite. But this market situation is constantly changing, which is reflected in prices, which should be the subject of constant observation and study.

In recent years, an important role in the pricing of goods, especially in world trade, has been occupied by related services provided by the manufacturer and supplier of any product to the importer or end user (technical maintenance, installation supervision, warranty repairs, other specific types of services related to promotion, sale and use of the product).

When analyzing prices, the movement of the economic cycle should also be taken into account. In the depression stage, prices usually do not rise. And, on the contrary, in the stage of rise, due to the excess of demand over supply, prices increase. The dynamics of price changes depends on the type of goods and product groups. Thus, when the market conditions change, prices change most sharply and quickly for almost all types of raw materials, the reaction of producers and suppliers of semi-finished products is slower, and the reaction of prices for products of the machine-building complex is even weaker.

1.1. World market and world prices

The world market in the modern sense corresponds to a situation where the search for the sale of goods goes beyond the domestic national markets. This is manifested in the movement of goods between countries in accordance with the ratio of not only internal, but also external surveys and proposals. This movement of goods leads to an optimization of the use of production resources. It can be used to judge in which industries and in which regions production resources can be used with the greatest efficiency. In addition, the mechanism of the world market leads to the fact that certain goods and their producers, which cannot correspond to international native norms of the relationship between prices, quality and utility, turns out to be outside the international exchange 1 .

Thus, the world market is an area of international commodity-money relations, that is, a set of foreign trade operations of all countries.

International trade includes export and import flows of goods.

The world market establishes a balance of supply and demand for imported goods. The size of exports from any country is determined by the excess supply of this product in this country. The size of imports to any country is determined by the excess demand for this product in this country.

The presence of excess supply or excess demand within a country is determined by comparing the equilibrium prices established in domestic markets and the prices for the same goods established in other countries. The price at which international trade is carried out lies somewhere between (not necessarily in the middle) the minimum and maximum domestic prices for a given product that existed in a particular country before its entry into the world market.

Thus, an enterprise can enter the world market as a result of both the weakening of opportunities for it in the domestic market, and as a result of the prospects that open up for it in other countries. In addition, the entry of entrepreneurs into the world market can be stimulated by their own state, as this contributes to an increase in the inflow of foreign currency and can lead to a reduction in the foreign trade deficit.

State intervention in foreign economic activity can be both stimulating and inhibitory.

In addition to the introduction of appropriate monetary taxes, the state in the process of international trade can solve such internal social issues as the protection of domestic producers and the increase or stabilization of employment by introducing various kinds of quotas.

In international trade, in contrast to a closed domestic market, where the balancing price is formed as a result of the balance of supply and demand for a given product, the latter is determined as a result of the balance of aggregate demand and aggregate supply.

Aggregate demand is the amount of a given good that can be sold at the current price level. This aggregate demand is not limited solely to demand from domestic consumers. It can also be presented from abroad by foreign consumers, including those who invest within the country.

Aggregate supply is the amount of a good that is generally offered by all producers of a given good at the current price level. Aggregate supply is formed from the domestic production of a given product and its imports.

On a global scale, after the end of the transition processes (which, however, can never be considered completely over), aggregate demand should equal aggregate supply. However, on the scale of individual regions or groups of countries, there may be no balance for one or another type of product even after the end of the transition processes, that is, in the steady state.

Unlike the domestic market, one cannot be sure that for one or another type of product or for people abroad will be ready to pay the prescribed amount, even if it is a minimum amount.

Therefore, to analyze the situation on the world market, it is necessary to approach different goods and different countries and groups of countries differently.

Let us first consider the various types of goods from the point of view of their marketability in the world market.

Goods often cannot be bought on the world market, not only because they are uncompetitive due to the discrepancy between their usefulness and price, but also because they are in principle impossible to deliver abroad. From this point of view, all goods can be divided into so-called tradable and non-tradable goods.

Traded goods are goods that can be moved from one country to another.

Non-tradable goods are goods that cannot be moved from one country to another. In principle, to avoid overproduction, non-tradable goods should be wholly consumed in the country in which they were produced.

The division of all goods into tradable and non-tradable is usually based on the Standardized Industrial Classification adopted by the United Nations.

All tradable goods, that is, goods that can move between different goods in both directions, are divided into exportable and imported.

Exported goods are divided into actually exported goods, or, as they are also called, real export goods, and goods that are so far only sold in the domestic market, but there are no restrictions on their sale abroad.

Similarly, all imported goods are divided into goods of real imports and those domestic goods of the domestic market that can be replaced by goods imported from abroad.

Just as, in terms of their participation in world trade, all goods can be divided into different categories, so, according to their position in the world market, countries-producers and countries-consumers can also be divided into different categories.

According to the role that various countries play in the world economy, they are usually divided into three categories: developed industrial countries; countries with economies in transition; developing countries.

1.2. Pricing Factors

In a market economy, pricing in foreign trade, as well as in the domestic market, is carried out under the influence of a specific market situation. In principle, the very concept of price is similar both for the characteristics of the domestic market and for the characteristics of the external one. The price, including in international trade, is the amount of money that the seller intends to receive by offering a product or service, and which the buyer is ready to pay for this product or service. The coincidence of these two requirements depends on many conditions, called "pricing factors". By nature, level and scope, they can be divided into five groups listed below.

General economic, i.e. acting regardless of the type of product and the specific conditions of its production and sale. These include: the economic cycle; the state of aggregate demand and supply; inflation.

Specifically economic, i.e. determined by the characteristics of this product, the conditions of its production and sale. These include: costs; profit; taxes and fees; supply and demand for this product or service, taking into account fungibility; consumer properties: quality, reliability, appearance, prestige.

Specific, i.e. valid only for certain types of goods and services: seasonality; operating costs; completeness; guarantees and terms of service.

Special, i.e. associated with the operation of special mechanisms and economic instruments: state regulation; exchange rate.

Non-economic, political; military.

Take supply and demand for example. It is known that the correlation of supply and demand in the conditions of the world market is felt by the subjects of foreign trade much more acutely than by suppliers of products in the domestic market. A participant in international trade faces a greater number of competitors in the market than in the domestic market. He must see the world market before him, constantly compare his production costs not only with domestic market prices, but also with world ones. The manufacturer-seller of goods on the foreign market is in a constant "price stress" mode. Significantly more in the international market and buyers. Secondly, within the world market, factors of production are less mobile. No one will dispute the fact that the freedom of movement of goods, capital, services and labor is much lower than within one particular state. Their movement is constrained by national borders, relations in the monetary sphere, which counteracts the alignment of costs and profits. Naturally, all this cannot but affect the formation of world prices. Under the world prices are understood the prices of large export-import transactions concluded in the world commodity markets, in the main centers of world trade. The concept of "global commodity market" means a set of stable, repetitive transactions for the sale and purchase of these goods and services that have organizational international forms (exchanges, auctions, etc.), or are expressed in systematic export-import transactions of large suppliers and buyers . And in world trade, the factors under the influence of which market prices are formed, first of all, naturally include the state of supply and demand.

In practice, the price of the offered product is affected by: the effective demand of the buyer of this product, i.e. simply put, the availability of money; Demand is the quantity of a product that a buyer can purchase. usefulness of the product and its consumer properties.

On the supply side, the constituent pricing factors are: the quantity of goods offered by the seller on the market; costs of production and circulation in the sale of goods on the market; prices for resources or means of production used in the production of the relevant product.

maintenance, warranty repair, other specific types of services related to the promotion, sale and use of goods. This aspect is especially important in modern conditions, in the period of the development of high technologies, the complication of machines and equipment. There are known examples when the cost of services in the export of equipment and machinery accounted for 60 percent of the supply price.

1.3.Pricing in various markets - types of world commodity markets

In a market economy, the process of pricing in trade between foreign economic entities of different countries is carried out in a competitive environment, a dynamic balance between supply and demand, as well as comparative freedom of behavior in the market of the exporter and importer. However, these postulates require amendments depending on the type of market. The main criterion for classifying types of markets, including world markets, is the nature and degree of freedom of competition 1 . Economists distinguish four types of markets: a market of perfect (pure) competition; pure monopoly market; market of monopolistic competition; market competition few suppliers oligopoly.

First of all, these markets differ from each other in the number of trade entities. The latter greatly affects the pricing mechanism.

Market of perfect (pure) competition. It is characterized, first of all, by a very large number of subjects of foreign trade (buyers and sellers) and a relatively homogeneous nature of the products supplied. Under the influence of supply and demand, prices tend to converge, i.e. in this region, in a given time period, prices are almost the same. According to practical observations, in the conditions of this market model, the desire of each exporter to obtain maximum profit leads to a decrease in the price of the product. To maintain its position in the market, the exporter resorts to discounts (or discount), which is not so significant 3-5%. The exporter's gain is in increasing volumes of deliveries.

It has been noted that in a perfectly competitive market, product suppliers (they can be both exporting manufacturers themselves and their sales agents) strive to maximize the satisfaction of consumer demand. Competing supplier firms focus on goods produced using more efficient technologies, and manufacturers, on the sale of goods at a fairly low price, taking into account their production costs.

In practice, this type of market (with a certain reserve) can include, for example, international trade in various consumer goods - clothing, footwear, tobacco, agricultural products, etc. food, etc.

Pure monopoly market. It is characterized by the presence of a single supplier of goods. Pricing in this case is dictated by the monopolist, he controls all offers, varies prices depending on demand and can cause price changes by manipulating the volumes of manufactured products, secures in advance in the markets of foreign countries the exclusive right to supply his products, which already makes it legally difficult for a competitor to penetrate.

The monopolist, by the very nature of this market, seeks to set the price of the product at the highest level using the full cost method, including production costs and the desired (for the producer) profit. There are, however, certain guidelines that the monopolist is forced to adhere to. So, despite having sole presence in the market, the monopolist, as a rule, does not set the highest price for the product, because in the long run the total profit may be less. Occurs, however, under the dictation of the monopolist, such an optimal selection of production volumes and prices, so that the total income is as high as possible, which will still be below the maximum profit per unit of output. This is natural, since not all participants in the world market have the opportunity to purchase goods at the highest price. There is the concept of "price discrimination", which means that the monopoly supplier of goods to the international market varies the price of the supplied goods depending on the importing country, more precisely, on the financial capabilities of the importer. However, this always means whether further re-export of these products is possible. Discriminatory prices tend to be set in isolated markets that exclude re-exports.

There are relatively few pure monopolists in world practice at present. In the 1970s and 1980s, the United States acted as a pure monopoly on the world space market through NASA, which completely controlled commercial launches (the USSR was absent from this market for reasons that are not entirely clear). Almost a pure monopoly is the De Beers company in the diamond market.

monopoly market. Monopolistic competition implies a mixed type of market - in this market there are, as a rule, a number of large monopolists and a significant number of less powerful firms, but which occupy a prominent place. The nature of pricing is competitive, with the priority of monopoly within the market of a differentiated branded product.

The dominance of the big firms of one country in the market of certain goods is weakened by the onslaught of the large monopolistic firms of another country, as well as by more "lightweight" competitors seeking to get their share of high profits. In the case of price gouging by the monopolies, there are always competitors who are able to give better offers, i.e. the best prices.

Prices are significantly influenced by the competition of monopolies representing different industries, offering goods with different commodity characteristics and different physical properties, but which are used for the same purpose. An example is the competition between manufacturers and suppliers of metal and plastics to automotive concerns. When pricing, the competition of goods that replace traditional ones in terms of their qualities is also taken into account. For example, companies in Australia and England, which traditionally supplied wool to the world market, face serious competition from manufacturers and suppliers of chemical fibers.

A market with few suppliers is an oligopoly. It is characterized by the presence of several large manufacturing-supplier companies with significant market segments, fully or almost completely supplying goods to the world market. Between firms and importing countries, as a rule, there are agreements on cooperation (that is, spheres of influence are divided), often firms have exclusive rights to purchase strategically necessary raw materials, and invest huge amounts of money in promotional activities.

The practice of pricing for supplied products shows that any major decision made by an exporter - setting a price, determining the volume of production, purchases, investments, etc. - requires weighing the likely reaction of competitors. An important role in terms of maintaining the status quo by companies is played by informal agreements of the main competitors that are not advertised to the general public. In the course of special negotiations, agreements are reached on fixing prices, on dividing sales markets, and on production volumes.

The need for relative coordination of activities in the global market has led companies to create special mechanisms with the help of which they could operate with a greater degree of predictability. The simplest form of such a mechanism is a cartel, which involves a formal written agreement on production volumes and pricing policy. Companies agree on the division of sales markets in order to maintain agreed price levels. The most famous cartel that until recently regulated the world oil market was OPEC (Organization of Petroleum Exporting Countries). For a long period of time, the cartel managed to coordinate the oil markets quite successfully.

For companies participating in the work of such mechanisms, a tendency to maximize profits is characteristic, i.e. their behavior to some extent resembles the operation of pure monopolies. The magnitude of the impact of the subjects of the oligopolistic market on the price level depends mainly on the degree of monopolization of the market, on how strong control over the production and marketing of goods, sources of raw materials and other equally important factors. It is noted that the higher the degree of monopolization, the higher the level of monopoly prices and the less their fluctuations.

At the same time, pricing in the markets of machinery and equipment, for example, in comparison with raw materials and semi-finished products, is a significantly different process, and the analysis of pricing for specific products supplied to the international market is difficult due to differences in design, variety of equipment, etc. . Nevertheless, suppliers of similar products to the world market have a certain idea of the prices of a competitor. As a rule, the price level reflects specific production costs with the addition of a certain percentage, taking into account a specific sales market, partner, region, etc.

2. practical aspects of determining foreign trade prices in the world market

2.1. Pricing in foreign economic activity

International trade is characterized by the emergence and existence of a special price system - the so-called world prices. The basis of the world price system is the international production costs of certain goods, as well as the ratio of aggregate supply and demand for a given type of product, formed on the world market.

A characteristic of international trade is that there may be different prices for the same product depending on the place and conditions of sale, which is commonly called the plurality of world prices.

It is customary to consider two main groups of world prices:

– prices for manufacturing products;

- prices for raw materials and raw materials.

Prices for manufactured products are usually based on the export prices of large companies that are the main suppliers of these products to the world market. Such export prices, in turn, are formed on the basis of prices for the same goods in the domestic market.

Large manufacturers determine the prices that are formed for their products on the basis of the full cost method or the direct cost method.

In the first case, all costs (both fixed and variable) necessary for the production of a unit of this product are summed up, and the estimated profit. At the same time, it is supposed to sell all manufactured products at a price that does not fall lower than that determined by the above method. Otherwise, the company incurs monetary losses.

In the second case, all production costs are divided into overhead costs, which with a certain degree of accuracy can be considered independent of the volume of output, and direct costs, which can be considered proportional to the volume of output. In this case, the initial price of a unit of production is determined by adding a margin of a certain amount to the total value of direct costs. At the same time, overhead costs are not distributed in advance between individual types and units of production, but are repaid after and based on the results of the sale of this product at the expense of the so-called added, or marginal profit actually received.

Obviously, when using the direct cost method for pricing, it is necessary to determine in advance the volume of sales in the world market with a sufficient degree of reliability.

However, since it is difficult to predict in advance with a high degree of accuracy and reliability the volume of sales in the world market and the dependence of demand on the asking price, most enterprises use the full cost method.

One way or another, the price of products obtained by one of the described methods is only a starting point for determining the price at which this product will actually be sold in a particular region of the world market.

In the future, large companies that have significant internal reserves and are able to actively influence the market carry out price maneuvering and determine the final selling price with flexible consideration of market conditions and competition.

A characteristic feature of the world market for manufacturing products is that this single world market is actually a set of interconnected markets for certain types of machinery and equipment. Unlike domestic national markets, which are usually characterized by a high degree of monopolization and concentration of supply, there is a high degree of competition in world markets. This is due to the entry into the market of a larger number of manufacturers than within one country, as well as differences in the quality and consumer properties of the same product produced in different countries and by different enterprises.,

It should be borne in mind that in the world market the prices for the same goods from different manufacturers may be different due to the objective difference in pricing factors that act both in the direction of increasing and lowering the actual selling price in the world market. This nature of the pricing of manufacturing products is explained by the following.

With the introduction of a new product, competition is still small, and demand elasticity is usually small. In other words, a new product, while it is scarce, is bought at any price.

In the growth phase, price competition usually increases. This leads to lower prices for such goods.

In the Maturity phase, production costs usually increase and non-price factors of competition become more important. This leads to higher prices for goods.

Unlike prices for manufactured products, the main factor in determining the prices of raw materials and starting materials is not the costs of their production, but the relationship between supply and demand, characteristic of these goods on the world market.

With such an established level of prices for raw materials, all its producers have to take into account. Exporters who produce raw materials at a low level of costs receive a decent profit when selling their raw materials on the world market. Those exporters, for whom the raw materials they produce are expensive, must be satisfied with lower profits or leave the world market altogether.

The world market for raw materials is characterized, therefore, by the interaction and mutual influence of exporter prices and exchange quotations. For some types of raw materials, the main role is played by the prices of exporters, and exchange quotations should follow these prices. For other types of raw materials, exchange quotations, on the contrary, play a decisive role in setting prices for commodities. For some types of commodities (for example, agricultural non-food products), exchange quotations are the only world market benchmarks for setting prices for this product.

Another feature of the world market of raw materials is that different prices are set for the same type of raw materials, corresponding to: different specific regions; different currencies used; different relationships between supply and demand; different discounts for different categories of buyers.

The most important feature of the world market of raw materials is also a large degree of participation in the formation of prices for goods of this kind by the state and state bodies. Sometimes, even for the formation of prices for certain types of raw materials, producer states unite in associations. Associations can unite both consumers and producers of commodities

Thus, domestic and world prices for exported and imported goods, although they are interdependent, rarely coincide.

As a rule, domestic prices are higher than world prices. An exception here is the export of certain primary commodities, in cases where this type of raw material is the only or predominant resource extracted and exported in a given country. In this case, the price for this type of raw material in the domestic market is set at a lower level than the level of the world price for the same type of raw material.

As a rule, the excess of domestic prices over world prices is more characteristic of imported goods, which stimulates an increase in their import. For exported goods, such an excess of domestic prices over world prices is less significant, but in most cases it takes place.

There are differences between domestic national markets and the world market due to customs duties and various kinds of benefits. This justification needs to be overcome. Then the levels of domestic and world prices converge. World prices in this case can be considered as a kind of price or derry. It should be borne in mind that deliveries abroad are carried out by the most competitive manufacturers resident in the exporting countries.

Although, as already noted, world prices in the case of exports of certain goods are lower than domestic ones. If the domestic market has a significant capacity, such exporters can compensate for their relatively lower profits in the world market through additional revenue in the domestic market.

For the world market, the same concepts can be applied that apply to markets in general. But in this case, they must be interpreted accordingly.

Macro-indicators of the world market are characterized by the volume of gross national product (GNP) of individual countries, data on prices for loans, volumes of commodity turnover, production volumes in various industries.

Microindicators of the world market are characterized by the volumes of production of individual enterprises, the volume of construction and the commissioning of new facilities, the volume of sales and consumption of certain goods, prices in the wholesale and retail markets of various countries, and the circulation of capital in individual industries.

Depending on the peculiarities of price formation in various segments of the world commodity market, closed and open markets are distinguished.

In closed markets (or in closed segments of markets), not only price, but also non-price factors operate. Such factors include various types of agreements on equity participation, on specialization and cooperation, monetary and credit and military-political agreements. In such markets, intra-company deliveries, deliveries within trade and economic groups, barter, compensation, clearing and export deliveries are carried out, assistance and assistance programs are being implemented.

An open market is characterized by the fact that the price on it is formed by the interaction of sellers and buyers with their unlimited access in the absence of non-price market restrictions. Sellers and buyers can be both public and private enterprises, as well as individuals. One-time deals prevail here, and prices tend to change flexibly and quite dynamically.

In practice, the export prices of the main suppliers, as well as the import prices of the main buyers, are set as world prices. World prices are also formed on the basis of prices established in several important and generally recognized centers of international trade. World prices may also be set in the main areas of production or consumption of a given commodity.

Examples of world prices set in generally recognized centers of international trade are:

in the oil market - export prices of countries that are members of OPEC and are set in relation to delivery and packaging in Tannura (Saudi Accident);

for Dutch gas - prices for delivery to the border of the Netherlands;

for hard coal - based on prices set by the largest suppliers, namely the USA, Australia and South Africa;

for non-ferrous metals - according to the quotations of the London Metal Exchange;

for furs - at the prices of fur auctions in New York, Montreal, St. Petersburg, the capitals of the Scandinavian countries, etc.

In order to have the necessary information on the conditions of competition in the conditions of the world market, it is necessary collect this information by studying contracts, price lists, supply proposals, orders, publications, materials of exhibitions and fairs, data from brokers, reports from sales representatives, information from journalists, etc.

2.2. Main varieties of world prices and prices of international contracts

Currently, in international trade, pricing occurs as a result of the interaction of competitive forces within the world market and the influence of administrative and state regulation.

The fact is that the largest manufacturing companies tend to focus on long-term programs that should ensure the stability of market conditions and the predictability of current prices.

This leads to the fact that prices in the world market are set not as a result of spontaneous price competition, but as a result of the coordinated market activity of a limited number of the largest manufacturing companies.

Therefore, when making decisions about the positioning of a product on the world market, you should familiarize yourself with the price level existing in this market.

All world market prices are usually divided into published and calculated prices.

As a rule, published prices represent the prices of the largest suppliers of this type of product. For example, for wheat, the determining world prices are the export prices set by Canada, for furs - the prices of the St. Petersburg and London auctions, etc.

Published prices include reference prices, exchange quotations, auction prices, prices of actual transactions, bid prices of large enterprises.

Published prices are published in special and company information sources. Such sources of information include various kinds of price lists, economic newspapers and magazines, special bulletins, company catalogs, etc.

The publication of various prices of this kind can be made regularly or occasionally (for example, upon the completion of a particular contract operation).

Settlement prices are commonly used in contracts for non-standard and special equipment supplied on an individual order. In such cases, the calculation method is usually the only way to present the starting price. This price is usually calculated by the supplier or contractor. Often, in the final form, such a price is determined only after the execution and acceptance of the order. Information about prices for special equipment appears in print occasionally and cannot be used directly to set the price level for a given order without appropriate calculations. In most cases, the established prices (both published and calculated) are only preliminary, for reference.

It was noted above that, under the terms of the contract, when using calculation methods of pricing, the final price value can be set only after the order has been completed and taking into account the results of its implementation.

If any type of published prices are used, they should be considered only as starting points for the actual transaction. This is due to the wide use of special allowances and discounts.

The use of various kinds of markups and discounts allows you to temporarily or in relation to different regions or to different categories of buyers establish the actual selling price of the goods without changing its base price.

Regular price surcharges may be charged for custom deliveries, special quality requirements, special services, etc.

Discounts can be provided for the supply of standard types of equipment or raw materials in the usual way (general, or simple, discount), for the volume of supply (discount for turnover, or bonus discount), for the purchase of a consignment of goods in excess of a predetermined level (progressive discount), as well as for those categories of buyers in which the company is particularly interested, for example, for wholesalers, regular customers, buyers who purchase trial lots and orders, etc. (special discounts).

The considered considerations can be taken by the enterprise as a guideline for taking into account the emerging market conditions when setting prices with which it can enter the world market. However, in the final form, the price of the goods is established in the relevant international contract.

The price of an international contract is understood as the price fixed in the relevant document on the international sale and purchase transaction.

Contract prices in international trade usually differ significantly both from current prices in the domestic market and from list and reference prices.

The transition from the reference price to the price of a specific transaction recorded in the contract is carried out by making price adjustments. These can be both surcharges and discounts from the price taken as a guideline.

All types of amendments to the base price can be divided into amendments common to all transactions, and amendments related to the characteristics of this product.

The type of currency in which the transaction is made must be specified at the conclusion of any contract. Usually it is US dollars. But when concluding contracts for some goods, transactions are made in the currency traditionally accepted for this type of goods. For example, contracts for rubber and non-ferrous metals were usually concluded in British pounds sterling, and for steel - in Swedish. crowns. With the introduction of the single European currency euro, the practice of setting prices in international contracts, of course, is being revised.

The amendment to the terms of payment is made because, in principle, payments can be made in various ways - in cash or by bank transfer, in advance, upon delivery of goods or on credit, in full or in installments, etc. Naturally, the contract price when paying in cash , and even more so for payments in advance, it is assigned lower than for payments on credit.

Baseline adjustments cannot be neglected when transport costs have different effects on the reference world price and the price of a specific transaction. The price of the terms of delivery may vary from the price of Free Departure to the price of Free Destination. In the first case, the price of the goods is limited to production costs, profits, as well as the costs of delivering the goods to the point where the main transportation of the goods to the buyer begins. Typically, this starting point is the supplier's warehouse. In the second case, the price also includes the costs of transporting the goods to the final point of consumption. Typically, this end point is the customer's warehouse. In practice, especially in Russia, a differentiated accounting of expenses incurred during transportation from the supplier's warehouse to the consumer's warehouse is also used. For example, the costs of loading goods at the point of departure and unloading them at the point of destination are separately allocated. The greater the share of costs incurred by the seller (supplier), the structurally more complete is such a price, and vice versa.

Special surcharges for individual products apply in the following cases.

Parametric pricing methods are used when the consumed parameter of a given product can be quantified. In such cases, the unit price method is usually used, that is, the price per unit of a good consumed (sometimes it is just its physical unit). Naturally, when changing the volume of supply or other quantitative change in the consumed parameter, the price of the contract must be changed. Typically, such amendments are used in the delivery of standard engineering products.

In cases where the consumable product can be delivered to the consumer in different configurations or with different assembly options, various types of corrections for the configuration are used. The problem is that a number of components and parts that are part of certain configurations are not sold separately. Therefore, for such parts and assemblies, world reference prices cannot be considered established. For these parts and assemblies, calculation methods are usually applied using average and specific indicators. Such averages and specific indicators are usually given in international statistical compilations.

For serial production, corrections are applied for the magnitude of the serial production of this product. Amendments of this kind yes, they are common in those industries in which, before the manufacture of at least one product, it is necessary to spend significant funds on research and development work (R & D), the creation of production facilities, and technological development. This situation is typical, for example, for the ship and aircraft industry. The costs mentioned above will still have to be paid. But in the case of a larger series, these costs can be distributed among a large number of products, so the price of one product is lower. In addition, if a series of products is ordered, the equipment to establish the production base is ordered in bulk, which is cheaper, and as a result of the improvement of production methods, the cost of manufacturing subsequent products is reduced. Thus, the contract price should decrease with an increase in the ordered series.

When determining all the above adjustments, it is necessary to take into account the so-called price sliding. The fact is that transaction prices are determined at the time of the conclusion of the contract, but with a significant time gap between the date of the conclusion of the contract and the actual delivery of this product, these prices may change significantly. This change in product prices is usually caused by changes in the prices of raw materials, fuel and labor. Therefore, a clause is introduced into the text of the contract that contract prices during the period of execution of this contract are subject to revision if it turns out that the previously agreed conditions have changed. Such reservations are especially necessary in the context of inflationary processes.

Thus, prices in export and import contracts are indicated taking into account the current level of world prices and the dynamics of their development.

Contracts should also specify how transportation and handling costs are to be accounted for. In other words, the document must indicate which of these costs are included in the price of the goods, and which are not. Therefore, international contracts indicate the type of prices used for deliveries under this contract.

In almost all countries, governments encourage their producers to enter the international market. The exit of exporters to the world breakthrough allows to increase foreign exchange earnings in the budget of their own country and leads to the development of production.

Stimulation of exporters is achieved by reducing export duties, providing various benefits and subsidies, including tax incentives. To receive such benefits, exporters must collect documents confirming the fact of export. Then the contract price of the exporter will be the upper limit of the export price.

The floor of the export price will be the sum of production costs, the manufacturer's stated profit, the cost of shipping the goods to the point specified in the contract, and various fees charged for the customs clearance of this product.

When importing, the interest is the upper limit of the price that, from the point of view of the buyer, it is advisable to pay for the imported goods.

For the seller of an imported product, the upper limit of the price of this product is the price for which it can be sold in the domestic market of the country where it is imported.

In order to stimulate the import of the most needed or scarce goods, some customs duties may be reduced or even completely eliminated.

2.3. Pricing and price regulation in leading industrialized countries

The experience of world economic development has shown the inefficiency of both administrative-command and purely market economies. Moreover, it can be considered that at present neither of these two economic extremes exists anywhere in its pure form.

In a real economy, functioning in one form or another in various countries, a situation is created when state bodies create a system for regulating the economy, but the mechanisms of market regulation are not turned off or destroyed.

The levers of the state regulation system are financial-currency, budgetary, credit, tax and price regulation. All these methods of regulation are aimed at maintaining balances between the commodity and money supply, between consumption and accumulation, and, ultimately, to stimulate the maintenance of a balance between supply and demand.

The methods of state regulation of prices, direct or indirect, are influenced by a variety of factors. Among these factors, one should name the degree of provision with raw materials, the political situation, as well as the place of the country in the world market.

Now let's take a look at how pricing and government regulation are carried out in different countries.

In the United States, attempts have recently been made both directly and indirectly to regulate prices.

In the early 1970s, inflationary processes, that is, rising prices in the domestic market, could gradually lead to galloping inflation. Therefore, in 1971, on the initiative of the administration of the then US President R. Nixon, direct centralized control over prices was established with a simultaneous wage freeze.

By the autumn of 1972, the growth rate of prices (both wholesale and retail) in the United States had been reduced, unemployment had somewhat decreased, and GNP began to grow. However, at the same time, the movement of capital from less promising industries to more promising ones was limited, investment was hampered, and the level of business activity generally decreased. Ultimately, revenue growth was also constrained. Therefore, in May 1974, the administration of J. J. Ford Abolished direct price controls.

In subsequent years, attempts at direct regulation in the United States focused on domestic energy prices as these prices followed rising prices for imported oil and natural gas.

This led to the containment of inflationary processes, but at the same time made investments unprofitable both in oil and oil refining industry, and energy in general. As a result, despite the rise in world prices, US oil imports continued to grow at high annual rates.

In 1981, US President R. Reagan abolished control over domestic prices for oil and petroleum products, since this control restrained production and, by stimulating consumption, made the United States dependent on energy imports.

In recent years, the US administration has used direct state regulation of prices on a limited scale, but at the same time actively used indirect regulation. The main directions of the policy of indirect, price regulation during this period were as follows: the implementation of a restrictive, that is, restrictive monetary policy; regulation of the discount rate of federal reserve banks; reduction of the state budget deficit; conducting a differentiated and targeted tax policy.

As a result, the government currently controls between 5% and 10% of all prices in the US.

Of great interest are the methods adopted in the United States for regulating prices for agricultural products. For the development of grain production, the state provides farmers with a targeted loan. Farmers remain the owners of the grain they produce, which they sell at market prices. They use a portion of their profits to repay their loans. But if the market prices for grain are below the control prices set by Congress, then the farmer can sell his grain to the state not at the market price, but at the guaranteed control price.

The same applies to prices in the dairy industry for products such as milk, butter, cheese. The state buys these products at control prices if they are higher than market prices. In this case, it turns out to be more profitable for the owners of products to hand them over to the state, rather than sell them on the market. The state distributes the purchased products in the form of free breakfasts to schoolchildren, transfers them in the form of food aid, etc.

In accordance with the agrarian legislation in force in the United States since 1985, mortgage rates were reduced, which determined the amount of loans provided to farmers.

Thus, the state indirectly regulates the prices of agricultural products by setting standards and interest rates for loans.

Similar principles of state regulation of pricing are typical for Great Britain and Germany.

In Canada, there is no unified system of state price regulation, but various ministries and departments carry out the corresponding pricing policy. The share of prices regulated by the state reaches 10%.

Australia also lacks a special price regulation system. For bread, milk, and eggs, price ceilings are set by the state treasury organizations. Minimum guaranteed purchase prices are set for other agricultural products.

In Japan, since 1973, the Price Bureau of the Economic Planning Administration has been functioning, which monitors compliance with antitrust laws and, among other functions, studies the relationship between supply and demand, as well as stimulates demand in order to maintain it at the required level.

In general, up to 20% of consumer prices are regulated by government agencies in Japan, including prices for rice and wheat, meat and dairy products, tariffs for water, heating, electricity and gas, as well as railway tariffs, prices for education and medical care.

Characteristically, in Japan it is forbidden to set both monopoly high and monopolistically low prices. The fact is that monopolistically low prices are seen as a desire to “squeeze out” competitors.<; рынка, чтобы в дальнейшем, завладев рывком, проводить ценовую политику по собственному усмотрению. При одновременном повышении цен несколькими предприятиями примерно на одну и ту же величину возможно проведение расследования с выяснением причин подобных действий.

An illustrative example of the participation of the state in economic activity is the Fraction. Here, approximately 20% of all prices are regulated by the state, and 80% are zuetsya as a result of the action of market mechanisms. It is characteristic that it was in France that for a long time a strict policy of state regulation of prices, the so-called policy of "dirigisme", was pursued. Taking into account the need to accelerate the recovery of the economy, destroyed by the Second World War, since 1947, the so-called policy of "controlled price freedom" began to be pursued in France. In accordance with this policy, entrepreneurs were given the right to change prices, but subject to timely notification of the state authorities. These authorities could, at their discretion, prohibit certain proposed price changes.

From the beginning of 1948 prices were subject to full or (in some cases) partial freedom of designation. In the period from 1949 to 1957, laws were passed in France to limit the rise in prices. In 1960-1962 the prices of almost all manufactured goods were "released". However, already in 1963 the government switched to a policy of so-called "development without inflation." This meant fixing a number of prices, primarily for food and some services.

In the period from 1965 to 1972, the state regulated pricing processes through special documents called "stability contracts", "program contracts" and "contracts that counteract price increases".

By means of stability contracts, the state obligated the main producers to maintain the average level of prices for the totality of goods they sold more or less constant. This meant that an increase in the prices of certain goods had to be offset by a decrease in the prices of other goods.

Program contracts allowed price changes, but only to the extent that this would correspond to changes in the conditions of international competition and the position of this entrepreneur. To this end, the enterprise had to provide the state authorities with all the necessary information on its investment programs, employment, prospects in foreign markets and competitive conditions, labor productivity, financial management methods, parameters of its products, etc. The information provided had to be such that it basis could be judged on the right dimension of the change program, primarily price increases.

The anti-price contracts included commitments from the government and the government and government agencies not to take any action that could raise production costs.

Beginning in the 1970s, the government in France again began to apply various measures aimed at freezing and state regulation of prices. There were periods of time when up to 100% of prices were fixed. If it turned out that the profit of the producer increased disproportionately, then the prices that ensured such a profit were subject to an additional anti-inflationary tax.

However, in May 1973 the French government announced the start of price liberalization for manufactured goods. This process was carried out gradually, starting with those industries where there was an established competitive environment, or where, due to the nature of production or the provision of social guarantees to the population, there were no sharp price increases. As a result, by 1986, about 90% of all prices for industrial products were freed from state control, and only 10% of them were still subject to state regulation.

Thus, throughout the second half of the 20th century, France used both methods of direct state regulation of prices, which are the essence of the policy of "dirigisme", and methods of indirect state influence on pricing processes.

Direct state control over prices in France contributed to the stabilization of the economy in the face of inflationary processes and unfavorable international market conditions. However, under these conditions, the growth of production is restrained, mobility in the markets of capital, labor, goods and services is limited. This is due to the restraint of competitive factors. The result was a reduction in investment and renovation processes. Moreover, it was noted that the inflation rate in France, which amounted to 9-10% per year in the middle of the 20th century, turned out to be noticeably higher than the inflation rate for the same period in countries where prices were regulated by indirect, purely economic methods. True, there is no actual data on what the inflation rate would be tions in France for the same period, if the mentioned methods of direct state regulation were not applied.

Another group of countries where one can trace the experience of applying methods of direct and indirect state regulation of pricing processes are the ‘Scandinavian countries’.

In Denmark, state regulation of prices is very limited. Prices are usually set according to market conditions. The share of directly established state * fixed prices does not exceed 6%. The state also has a differentiated approach to establishing taxes and assigning subsidies, seeking to influence (reduce or increase) the volume of sales of certain goods. The role of the state in such a situation is reduced to providing conditions for fair competition of free producers.

In Sweden, a special body was created to control prices - the State Office for Prices and Competition. In addition, laws on price regulation and on the provision of information regarding prices and conditions of competition were adopted here.

Since, according to Swedish economists, price fixing has a positive effect only for a short time, smoothing out sharp spikes in prices, the law on state regulation of prices gave the state the right to freeze prices only in case of war or its threat, or in case of danger of a general increase in prices. The influence on the price level in Sweden is carried out mainly through the state monopoly on certain goods. For example, such a monopoly exists on liquor, postal services, the services of the Swedish railways and the state energy concern.

The state strictly determines the purchase prices for such types of agricultural products as grain, milk, meat, eggs, etc. Prices are set in the interests of private producers of these products as a result of annual negotiations between the government and the association of agricultural producers with the participation of consumers. To ensure the necessary social guarantees, the state issues housing subsidies and loans, and once a year indexes the income of the population,

In Norway, prices in the domestic national market are set on the basis of prices in the world market, in accordance with the law on control of prices, profits and restriction of competition.

The prerogative of the state is to establish minimum and maximum prices, determine the methodology for calculating prices, discounts and surcharges, determine profit levels, and freeze prices.

The state sets price ceilings for such goods as meat, milk, margarine, chemical fertilizers, cement, medicines, etc.

Finland in the 80s of the XX century was called "Scandinavian Japan" due to the high level of economic development. It also occupies one of the first places in the world in terms of the standard of living of the population.

The state in Finland plays an important role in setting prices, although the economy is based mainly on private property and market relations. In particular, planning and price control are carried out for such goods as food, grain, energy carriers, including gasoline, as well as for wine and vodka products. Companies that sell at low prices receive favorable loans from the state, that is, long-term loans at low interest rates. The retail price system in Finland is characterized by flexibility and variability and aims to stimulate consumption. In general, the Finnish market economy is socially oriented. With the help of prices and tax regulation, various measures are carried out leading to an increase in the standard of living of the population.

The development of the main sectors of the Finnish economy is regulated by national programs. Themselves, these programs are built on the basis of planning and calculation methods of pricing. State regulation methods are used to set the tasks of forecasting, long-term development and technical progress, while market regulation is effective in meeting the current needs of society.

Another group of developed countries characterized by the similarity of their existing economic situation are the countries of Southern Europe, primarily Spain and Greece.

In Spain, state control over prices is carried out on the basis of the law on the protection of competition. Compulsory pricing is applied to a number of goods, both public and private enterprises. The list of goods and services, the prices of which should be strictly regulated, are published on a regular basis in the relevant commercial information bulletins. State regulation of prices in Spain has the following varieties:

the establishment of permissive prices, that is, such prices, a request for an increase in which must first be sent to the Supreme Council for Prices. Such prices may in fact be increased only after the approval of the relevant request. An example of this kind is the price of electricity, gas, gasoline, kerosene, diesel fuel, medicines, communication services, tariffs for rail, road, sea and air transportation within the country, etc.;

setting notification prices, that is, prices that can be increased without the permission of the Supreme Council for Prices, but not earlier than one month after notification of it. An example is the prices of such goods as milk, vegetable oil, feed grains, etc.;

fixing local prices, i.e. prices set by provincial price commissions. An example is the prices for water supply to the population, transportation by public transport, services of clinics, sanatoriums, hospitals, etc.

It should be noted that recently the total number of sectors of the economy, pricing in which is regulated by the state, has significantly decreased. At present, the share of prices regulated by the state does not exceed 10%.

In Greece, the legal basis for state influence on prices is the Code of Market Regulation, issued in 1989. According to this Code, all goods and services, the prices of which fall under price regulation, are divided into two groups.

The first group includes those goods and services, the prices of which are within the competence of the government and government agencies. An example of goods of the first group can serve as mass-produced agricultural products such as wheat, tobacco and raisins, as well as tariffs for electricity, public transport and communications, air passenger transportation, etc.

The second group includes all other goods and services, the prices of which can be regulated by the Minister of Trade with the involvement of local authorities, if necessary. All goods of the second group, in turn, are divided into "essentially insufficient", "essentially sufficient" and "insignificant".

Essential foodstuffs, for example, the main types of bread, cheese, flour and sugar, as well as soft drinks, services of public restaurants, bars and snack bars, gasoline, diesel fuel, taxi services, etc. .Substantially sufficient goods include, for example, detergents, some building materials (gypsum and asbestos), complex household appliances, services of parking lots, restaurants and entertainment enterprises of the highest categories, etc. Prices for such goods are regulated in order to prevent excess profits. The question of what should be considered excess profits is decided in each case separately. The non-essential goods include those goods that are not considered essential goods. Prices for such goods are set freely under the influence of market factors without the intervention of government agencies.

At the beginning of the 21st century in Greece, about 20% of the names of consumer goods and services were regulated by the state, and the remaining 80% were free.

With regard to regional groupings, in the countries of the European Community (EU), price monitoring for the main part of agricultural products is carried out on an ongoing basis by supranational bodies. Such products include such goods as, for example, cattle, milk, refined sugar.

Proposals on the levels of maximum and minimum prices for such goods are prepared by the EU Commission, and decisions are made by the Council of Ministers of the EU.

In EU countries, prices for coal, steel and rolled metal are also subject to supranational control. This control is carried out within the framework of the European Coal and Steel Community (ECSC) by direct regulation of production volumes, as well as by setting fixed minimum basic prices for products characterized by basic volume and quality values. Basic prices (basic amounts of surcharges and discounts) should be published in the price lists of the largest monopolies. In general, within the EU, up to 15% of prices are set at the supranational level.

In the next chapter, we will consider the features of pricing in Russia.

3. PRICING IN RUSSIA

Consider pricing in Russia associated with foreign economic activity.

During the existence of the USSR and in Russia of a centrally planned economy, the problems of pricing in the world market were of relatively little interest to a particular manufacturer. All transactions - trade and payment - were carried out by specialized institutions, foreign trade associations and Vneshtorgbank. Immediately after the appearance of the relevant legislative acts on the independent entry of enterprises into the international market, a large number of new market entities appeared, both powerful large suppliers, for example, the Magnitogorsk Combine or Gazprom and its structures, and low-powered, but numerous “shuttles”.

Approximately until 1992-1993. domestic prices for products manufactured in Russia in convertible currency terms were lower than world prices. In addition, other components of the price of goods, such as: transportation costs, port services, energy costs and some others, did not occupy a significant share in the overall price structure, which was well known to foreign buyers. And, coupled with the lack of qualified personnel for foreign trade activities at that time, all this led to the release of goods on the world market at prices much lower than world prices. In this regard, it is no coincidence that only the EU opened 15 anti-dumping investigation procedures against Russia, introduced restrictive quotas for the supply of a large number of commodity items to these countries.

At present, in Russia, domestic prices for many exported goods (oil, grain, etc.) are higher than world prices. There are many reasons for this. The crisis in the Russian economy led to a drop in production volumes, which immediately affected the cost of production. The annual reduction in investment has led to the dilapidation of production assets, the lack of new technologies. The presence in Russia of several major monopolists has a great and, probably, negative influence, in whose hands practically all the levers for setting prices and tariffs for services are concentrated, and on which everyone depends in the conditions of our country. We are talking about RAO "Gazprom", RAO "UES", about transport workers (it is not by chance that transport tariffs have increased unprecedentedly).

At present, large firms and enterprises in Russia that export and import products, as a rule, have specialized companies operating mainly in the field of foreign trade. Although there are not many of them, they quite clearly monitor the situation in the commodity and financial markets and do not make gross mistakes. They have clearly chosen the markets and channels through which they work, they have their own clientele, and it is almost impossible for newcomers to become suppliers or buyers, for example, of Norilsk Nickel, in conditions of strong competition. There is a clear trend towards monopolization.

In pricing, Russian companies adhere to the generally accepted rules of the game inherent in the modern world market. However, one very important detail should be noted. Today, if we approach the issue from a purely economic point of view, exports are not profitable for many Russian companies, which in turn limits imports. Domestic market prices are much higher than world prices for many commodity items. The absence of financial resources on the Russian market leads to non-payments, to primitive barter transactions or to the appearance of various financial surrogates in the form of promissory notes or other "securities". The enterprise, not receiving money from the buyer for already delivered products, is forced to look for a buyer in the foreign market. The negative difference in prices is then transferred to the domestic price of the product, which becomes even more expensive, although the enterprise itself has cash receipts in its bank account after the export transaction.

An important practical issue in the field of domestic pricing related to foreign economic activity is the formation of prices for imported goods and services. Here, instead of the "inventions" of the Soviet era, which rigidly tied import prices to the prices of the corresponding domestic products, which often gave rise to all sorts of nonsense, now international experience is being introduced, justified world practice. This is all the more important because, as noted above, the importance of imports for the Russian economy is currently exceptional, including for the average consumer. Taking into account world experience and international recommendations, domestic prices for imported goods are determined based on their customs value, i.e., the total foreign exchange costs for imports at the time of crossing the customs border, fixed in the customs declaration of the value of the imported goods or calculated using certain methods provided for in Section IV Law of the Russian Federation "On the customs tariff". It prescribes the successive application of the following six methods, if the previous one is not possible:

at the transaction price with imported goods;

at the transaction price with identical goods;

at the price of a transaction with homogeneous goods;

cost subtraction;

adding value;

Measures are being taken in Russia to rationalize the import tariff. Its main provisions are reduced to the elimination of rates exceeding 30%. To date, the average level of rates is 14%, and the average level for the vast majority of goods is in the range from 5 to 30%. Now, Russia's import tariff is on average almost three times higher than in industrialized countries - GATT / WTO members, although it is lower in many positions. In general, protectionism, especially in the field of tariffs, and its artificial support lead to the development of monopoly, a decrease in production efficiency and an overestimation of consumer prices.

Of course, with the restoration of the potential of Russian industry, with the strengthening of the financial market, the market for services and capital, with the growth of manageability and control over the processes taking place in the economy, pricing will be more predictable and will correspond to the general economic logic.

LIST OF USED LITERATURE

Avdokushin E.F. International economic relations: textbook -M. : Marketing, 1999.

Burda M., Viplosh Ch. Macroeconomics. European text. - St. Petersburg: Shipbuilding, 1998.

Gerasimenko V.V. The firm's pricing policy. — M.: Finstatinform, 1995.

Kotler F. Fundamentals of marketing. Moscow: Progress, 1998.
CIRCULATION OF SECURITIES IN THE INTERNATIONAL FINANCIAL MARKET

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