The purpose of the article is to generalize and formalize a model of the market exchange equivalence on the vegetable market in Ukraine. Research methods. In the research process has been used the methodology for analysing the market situation using criterion and indicators of market exchange equivalence, and an appropriate methodology for calculation of these indicators has been proposed. There have been used general scientific methods of research, in particular: the dialectical method for process’s cognition and phenomena; the monographic method for analysis of the evolution of scientific views of Ukrainian and foreign scientists on the problems of the market exchange development in agriculture; the empirical method for a complex assessment of the current state of the vegetable market in Ukraine; the comparative analysis for defining the problems and objectives of the market exchange equivalence in the EU members and in Ukraine; the abstract and logical method. Research results. In the research process of the market exchange equivalence in the Ukrainian vegetable market and on examples of the relevant markets of some other countries, it has been proved that the national market is in a marginal state, which is expressed both by significantly lower prices for vegetable products and purchasing power of the population. Thus, a standard model of the most effectively functioning markets as well as the causes of the national dysfunctions have been substantiated. Elements of scientific novelty. The theoretical provisions of the general market theory in aspect of market exchange equivalence have been further developed. The authors' position was based on quantitative and relative indicators of the market exchange equivalence (ratio of prices for related products, purchasing power of population of a particular country), which made it possible to assess an efficiency&perfection of markets of the same products in various economic systems. This approach allows us to assess both a state of certain markets and hierarchy of sectoral markets of the world economic system by a criterion of their functioning effectiveness. Practical significance. The proposed approach will make it possible to provide more reliable information on a state of certain markets, which would a basis for a development of correct management measures and making decisions of some other content (for example, investment) concerning a certain market. Beneficiaries of such information can be representatives of regulatory authorities as well as market participants, which are receptive to a certain market. Tabl.: 5. Figs.: 1. Refs.: 24