The future of agriculture.

Abstract

Over the next 10yrs the growth of agricultural output and productivity in industrial countries is likely to be more moderate than over the past 25 yrs with a long run trend to increase fixed costs. At a policy level growing interdependence between economic sectors is likely, and monetary, fiscal, social and foreign policy considerations may influence food and agricultural policies more than established considerations like farm income, nutrition and productivity. Internationally, economic interdependence will increase between different sectors of agriculture (feed and livestock) in different countries and through increased flows of trade and aid. Higher farm costs due to rising energy prices and anti-pollution measures will push up food prices, but generally there will be more commodities available for export over the next 5-10 yrs than import markets (including food aid) will require.- from WAERSA