Tuesday
September 29
2020

Global Trade in Food and Agricultural Products More Than Doubles in Last Two Decades

A fruits and vegetables vendor in Isfana, Kyrgyzstan. By participating in global value chains, smallholder farmers can boost their food production and income.

Global agri-food trade has more than doubled since 1995, amounting to $1.5 trillion in 2018, with emerging and developing countries’ exports on the rise and accounting for over one-third of the world’s total, according to a new report issued today by the Food and Agriculture Organization of the United Nations (FAO).

The State of Agricultural Commodity Markets, 2020 (SOCO 2020) argues that global trade and well-functioning markets lie at the heart of the development process as they can spur inclusive economic growth and sustainable development, and strengthen resilience to shocks.

“We need to rely on markets as an integral part of the global food system. This is all the more important in the face of major disruptions, whether they come from COVID-19, locust outbreaks or climate change,” wrote FAO Director-General QU Dongyu in his introduction to the report.

Photo courtesy of Nonviolent Peaceforce.

Source: WATTAgNet (link opens in a new window)

Categories
Agriculture, Entrepreneurship, Finance
Tags
emerging markets, food systems, global development, inclusive business, smallholder farmers, Sustainable Development, value chains