What do we know about the future of food trade?
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International Food Policy Research Institute
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Trade in agriculture and food products increased dramatically over the past 20 years, driven by population and income growth that resulted in consumption exceeding production in many countries. Productivity growth grew as well, allowing countries with surplus production to meet global import demand. Reforms in the global trading system have reduced import barriers, also encouraging trade.
As a result, imports as a percentage of total consumption have increased steadily (particularly in low-income countries) and forecasts for the near term (next 10 years) as well as longer-term projections (to 2050) suggest that these trends will continue.
Climate change will pose continued challenges as production shifts due to increased temperatures and more variable rainfall. Trade will be necessary to help mitigate the impacts of these changes, so the global trading system must remain open and free of harmful distortions.
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trade, agricultural trade, world markets, cereals, maize, rice, wheat, agricultural products, trade policies, oil crops