To survive in today's competitive environment, companies must continuously develop and offer customers new products. To increase the probability of a successful business case of investing in the development of a new product, careful attention must be paid to risk analysis in terms of the present value of future potential income. The article considers an example of the research work of the Latvia University of Life Sciences and Technologies, in the framework of which a technical and technological project was developed to produce a new product, like Mediterranean anchovy, from cheaper Baltic sprats. The main goal of this work is to explore the application multi-factor sensitivity and fuzzy real option analysis to the valuation of new product development project. The multivariate analysis of the sensitivity of the financial model of the greenfield production project described in this article revealed the main risk groups, as well as their degree of influence on the assessment of the Net Present Value of the project by a potential investor. The use of Fuzzy Real Option Valuation made it possible to evaluate the project with uncertain parameters, as well as to calculate the potential upside from preliminary refinement of parameters to eliminate negative scenarios. The described approach is applicable to risk assessment of new food product development and allows investors to make a more informed decision about participation in such projects.

To survive in today's competitive environment, companies must continuously develop and offer customers new products. To increase the probability of a successful business case of investing in the development of a new product, careful attention must be paid to risk analysis in terms of the present value of future potential income. The article considers an example of the research work of the Latvia University of Life Sciences and Technologies, in the framework of which a technical and technological project was developed to produce a new product, like Mediterranean anchovy, from cheaper Baltic sprats. The main goal of this work is to explore the application multi-factor sensitivity and fuzzy real option analysis to the valuation of new product development project. The multivariate analysis of the sensitivity of the financial model of the greenfield production project described in this article revealed the main risk groups, as well as their degree of influence on the assessment of the Net Present Value of the project by a potential investor. The use of Fuzzy Real Option Valuation made it possible to evaluate the project with uncertain parameters, as well as to calculate the potential upside from preliminary refinement of parameters to eliminate negative scenarios. The described approach is applicable to risk assessment of new food product development and allows investors to make a more informed decision about participation in such projects.

In the market of the Latvia different wood surface coating materials suitable for use in outdoor conditions are offered, but available information on the efficiency of these against direct water exposure is insufficient. For structural timber building elements, such as glued laminated timber (GLT), the surface coating should be applied taking into account technological, visual or colour changes (ISO 7724:1984) and – last, but not least – economic aspects are considered. Wood surfaces coated with coating materials, such as varnishes, paints, etc. can stabilize some properties such as movement of moisture content, dimensional changes and attack by microorganisms and fungi. The changes in the moisture content of timber may influence such important parameters as mechanical properties and the total life time of the structural timber elements. A study has been conducted with the aim of assessing the efficiency of coating materials used for wood protection against water absorption. In this study, six different commercial coating products used for the treatment of spruce (Picea Abies L. Karst.) and pine (Pinus Sylvestris L.) samples were tested. The efficiency of different coating substances was assessed using two modified test methods according to the standards EN 382-2 (1994) and EN 927-5 (2006), determining the surface water absorption after immersion in water for 24 h and the dynamics of water absorption of the glued laminated timber for 696 h kept in water. As a result of the study, it has been ascertained that organic solvent-based commercial coating products are more efficient against short-term and long-term wood water absorption compared to oil-based coating materials.

In the market of the Latvia different wood surface coating materials suitable for use in outdoor conditions are offered, but available information on the efficiency of these against direct water exposure is insufficient. For structural timber building elements, such as glued laminated timber (GLT), the surface coating should be applied taking into account technological, visual or colour changes (ISO 7724:1984) and – last, but not least – economic aspects are considered. Wood surfaces coated with coating materials, such as varnishes, paints, etc. can stabilize some properties such as movement of moisture content, dimensional changes and attack by microorganisms and fungi. The changes in the moisture content of timber may influence such important parameters as mechanical properties and the total life time of the structural timber elements. A study has been conducted with the aim of assessing the efficiency of coating materials used for wood protection against water absorption. In this study, six different commercial coating products used for the treatment of spruce (Picea Abies L. Karst.) and pine (Pinus Sylvestris L.) samples were tested. The efficiency of different coating substances was assessed using two modified test methods according to the standards EN 382-2 (1994) and EN 927-5 (2006), determining the surface water absorption after immersion in water for 24 h and the dynamics of water absorption of the glued laminated timber for 696 h kept in water. As a result of the study, it has been ascertained that organic solvent-based commercial coating products are more efficient against short-term and long-term wood water absorption compared to oil-based coating materials.

The impacts of the COVID-19 pandemic on national economies are characterized as the worst economic turmoil in recent years, as economic growth slowed to the level of the 2008 global financial crisis. At the end of 2019 and the beginning of 2020, economic growth surveys did not project that the novel virus could have a negative impact on economic growth. As a result of the rapid spread of the virus and the increase in the number of infection cases, national governments took strict measures to limit the spread of the virus, which led to a significant deterioration in the economic situation in all industries of the economy. Agriculture plays an important role in providing food to the country’s population, yet the pandemic made a negative impact on sales volumes and prices in the domestic and international markets. The research aims to assess the impacts of the pandemic on milk supply chains in Latvia and come up with solutions to stabilizing the situation in the dairy sector. The national restrictions to combat the pandemic also hampered the dairy sector concerning the sale of raw milk and finished products in foreign markets, thereby leading to overproduction and stockpiling of the finished products, price dumping and a significant decrease in milk purchase prices to or below the production cost level for many dairy farms. Although there is no indication that the pandemic would lead to a decrease in the numbers of livestock and farms or output in early 2021, it is too early to assess the overall impact of the pandemic on dairy farming, as uncertainty over the duration of pandemic restrictions is a major risk to farm survival. The operation of the dairy sector was stabilized by means of the support provided by the government, as well as the farms’ accumulated financial and feed resources. In order to identify future challenges for milk supply chains, the research performed an analysis of operational risks for milk producers and processors to identify the most important risks and design recommendations for their elimination. The longer there is uncertainty about the return of the dairy sector to pre-pandemic output levels, the more likely it is that the pandemic is going to lead to a decrease in the numbers of dairy livestock and farms.

The impacts of the COVID-19 pandemic on national economies are characterized as the worst economic turmoil in recent years, as economic growth slowed to the level of the 2008 global financial crisis. At the end of 2019 and the beginning of 2020, economic growth surveys did not project that the novel virus could have a negative impact on economic growth. As a result of the rapid spread of the virus and the increase in the number of infection cases, national governments took strict measures to limit the spread of the virus, which led to a significant deterioration in the economic situation in all industries of the economy. Agriculture plays an important role in providing food to the country’s population, yet the pandemic made a negative impact on sales volumes and prices in the domestic and international markets. The research aims to assess the impacts of the pandemic on milk supply chains in Latvia and come up with solutions to stabilizing the situation in the dairy sector. The national restrictions to combat the pandemic also hampered the dairy sector concerning the sale of raw milk and finished products in foreign markets, thereby leading to overproduction and stockpiling of the finished products, price dumping and a significant decrease in milk purchase prices to or below the production cost level for many dairy farms. Although there is no indication that the pandemic would lead to a decrease in the numbers of livestock and farms or output in early 2021, it is too early to assess the overall impact of the pandemic on dairy farming, as uncertainty over the duration of pandemic restrictions is a major risk to farm survival. The operation of the dairy sector was stabilized by means of the support provided by the government, as well as the farms’ accumulated financial and feed resources. In order to identify future challenges for milk supply chains, the research performed an analysis of operational risks for milk producers and processors to identify the most important risks and design recommendations for their elimination. The longer there is uncertainty about the return of the dairy sector to pre-pandemic output levels, the more likely it is that the pandemic is going to lead to a decrease in the numbers of dairy livestock and farms.

The purpose of this paper is to demonstrate the performance of agricultural sectors in the Association of Southeast Asian Nations (ASEAN) countries using selected criteria, to identify the deficiencies in agricultural policies, to explore competitive advantages and to guide food and nutrition policies. The analyses of this research use the secondary of time series data between the years 1967 - 2016 from 10 countries including; Brunei Darussalam, Cambodia, Indonesia, Laos PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam which are the member of ASEAN. This research uses the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) method and the data used for the mentioned countries include the following criteria; total agricultural production value of the land, self-sufficiency of animal products criteria, self-sufficiency of crop products criteria, rural population rate, greenhouse gas emissions from agriculture, and value of foreign trade in agricultural products. The result of proximity coefficients calculated with the TOPSIS method, which according to the number of proximity and maximum benefit analysis should be done according to the order of preference. It is stated that Thailand, Philippines and Indonesia were the most successful countries in the agricultural policy performance in 1967. As for last decades, Malaysia became the most successful country in agricultural policy performance. We can infer from the results that Malay industrial sector triggered the agricultural sector by supplying financial investment atmosphere.

The purpose of this paper is to demonstrate the performance of agricultural sectors in the Association of Southeast Asian Nations (ASEAN) countries using selected criteria, to identify the deficiencies in agricultural policies, to explore competitive advantages and to guide food and nutrition policies. The analyses of this research use the secondary of time series data between the years 1967‒ 2016 from 10 countries including; Brunei Darussalam, Cambodia, Indonesia, Laos PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam which are the member of ASEAN. This research uses the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) method and the data used for the mentioned countries include the following criteria; total agricultural production value of the land, self-sufficiency of animal products criteria, self-sufficiency of crop products criteria, rural population rate, greenhouse gas emissions from agriculture, and value of foreign trade in agricultural products. The result of proximity coefficients calculated with the TOPSIS method, which according to the number of proximity and maximum benefit analysis should be done according to the order of preference. It is stated that Thailand, Philippines and Indonesia were the most successful countries in the agricultural policy performance in 1967. As for last decades, Malaysia became the most successful country in agricultural policy performance. We can infer from the results that Malay industrial sector triggered the agricultural sector by supplying financial investment atmosphere.

It is stated that the strategic benchmark for transformational changes in the economy is currently low-carbon production, the achievement of which is possible to provide with the consistent application of an arsenal of strict control measures, in particular, the introduction of state audit of low-carbon production. The effectiveness of the mechanism for ensuring the implementation of the UN Framework Convention on Climate Change has been assessed. The necessity of implementation in the domestic practice of the state audit of low-carbon production by the decoupling approach is proved. The agri-business portfolio has been formed according to the decoupling approach as one of the leaders in greenhouse gas pollution. The author's economic and mathematical models of estimation according to the decoupling approach of the impact of branches of crop and livestock production on environmental pollution are proposed. The dependence of greenhouse gas emissions on the volume of gross output of agricultural production, capital investment and current expenditures on environmental protection has been established. The results of a comparative analysis of the realism of forecasts of changes in greenhouse gas emissions according to the methodology of the National Academy of Sciences of Ukraine and the author's methodology are highlighted. A roadmap for the introduction of a state low-carbon decoupling audit of the state decoupling audit has been proposed as part of the preparation of the second nationally determined contribution to the Paris Agreement. The expediency of supplementing GRI 300 “Environmental Disclosures” with the group of indicators GRI-305.5 “Reduction of GHG emissions”, formed by the decoupling approach, is substantiated.

It is stated that the strategic benchmark for transformational changes in the economy is currently low-carbon production, the achievement of which is possible to provide with the consistent application of an arsenal of strict control measures, in particular, the introduction of state audit of low-carbon production. The effectiveness of the mechanism for ensuring the implementation of the UN Framework Convention on Climate Change has been assessed. The necessity of implementation in the domestic practice of the state audit of low-carbon production by the decoupling approach is proved. The agri-business portfolio has been formed according to the decoupling approach as one of the leaders in greenhouse gas pollution. The author's economic and mathematical models of estimation according to the decoupling approach of the impact of branches of crop and livestock production on environmental pollution are proposed. The dependence of greenhouse gas emissions on the volume of gross output of agricultural production, capital investment and current expenditures on environmental protection has been established. The results of a comparative analysis of the realism of forecasts of changes in greenhouse gas emissions according to the methodology of the National Academy of Sciences of Ukraine and the author's methodology are highlighted. A roadmap for the introduction of a state low-carbon decoupling audit of the state decoupling audit has been proposed as part of the preparation of the second nationally determined contribution to the Paris Agreement. The expediency of supplementing GRI 300 “Environmental Disclosures” with the group of indicators GRI-305.5 “Reduction of GHG emissions”, formed by the decoupling approach, is substantiated.