Faculty of International Economics and Management

Follow-Up on William Meyers' online seminar “Turbulence in Global Trade: A New Reality or a Temporary Challenge?”16 June 2025р.

On June 12, 2025, the international educational platform Ukraine Global Faculty hosted an online seminar by William Meyers, Professor Emeritus of Agricultural and Applied Economics at the Research Institute for Food and Agricultural Policy at the University of Missouri (USA), entitled “Turbulence in World Trade: A New Reality or a Temporary Challenge?”.
 
Key points from the workshop:
 
  • Ukrainian agriculture is an example of global competitiveness. Despite almost no state support, Ukraine remains one of the largest exporters of grains and oilseeds. This is the result of high productivity, the entrepreneurial spirit of farmers and the efficient use of natural potential.
  • The Ukrainian agricultural sector has impressed the world with its resilience during the war. Despite large-scale destruction, port blockades and logistical constraints, Ukraine continued to export agricultural products. Alternative routes were found, including through Europe, which demonstrates the adaptability and resourcefulness of the Ukrainian agricultural sector.
  • The lack of stable state support is both a challenge and a proof of effectiveness. Historical data show that Ukrainian agriculture has received little or no systemic support and has sometimes been subject to indirect forms of taxation. At the same time, farmers have achieved high results on their own.
  • Global demand for grain in recent decades has been driven by China and biofuels in the United States. The main drivers of growth in global demand for grains and oilseeds were: poverty reduction and dietary changes in China, and rapid growth in the use of corn for ethanol production in the United States.
  • The future of global demand looks less optimistic. Due to slowing demographic growth, stabilizing incomes in China, and saturation of the biofuel market, global demand for grains is not expected to repeat the levels of the previous 20 years.
  • Ukraine should focus on developing processing and livestock production. Diversification of exports through the production of meat, poultry, feed and finished products will increase added value, stabilize farmers' incomes and strengthen the domestic agricultural market.
  • The potential of poultry and pig farming in Ukraine is significant. Before the full-scale war, Ukraine had already demonstrated significant progress in the development of poultry farming and was beginning to increase pork production. These areas remain promising for the sustainable growth of the postwar economy.
  • US Trade Policy Has Become a Source of Global Instability. Inconsistent and often populist tariff policies (in particular, those of the Trump administration) destabilize international markets, create uncertainty, and harm the global economy, including agricultural trade.
  • Volatility of trade routes and prices is the new normal for exporters. The role of factors such as: tariff instability, logistics failures, fluctuations in fuel and freight prices. This requires flexibility, new insurance instruments, and adaptation strategies.
  • The Black Sea region needs its own trade instruments. The initiative to create wheat futures for the Black Sea region (Black Sea Wheat Futures, CBB) could be a significant step towards establishing a regional price benchmark and strengthening the position of Ukrainian exporters.
  • Regulatory and land reforms have a long-term positive effect. The adoption of land reform before the war was an important step towards opening the land market. The full implementation of this reform after the war could spur investment and modernization of production.
  • Ukraine can become a leader in regenerative agriculture in Eastern Europe. Given the damage to soils caused by the war and global trends toward sustainable production, Ukraine has the opportunity to implement regenerative agriculture methods, which will have not only environmental but also economic benefits.
  • Global forecasts show stabilization of prices in the medium term. According to OECD and FAPRI, in the absence of extraordinary factors (wars, pandemics, weather disasters), prices for basic agricultural commodities will stabilize without showing extremely high growth trends.

We also share the presentation of the webinar.

Sincere thanks to UGF and the speaker!