Report: Most Agricultural Funding Distorts Prices, Harms Environment
The report, A multi-billion-dollar opportunity: Repurposing agricultural support to transform food systems, was launched on Tuesday by the Food and Agriculture Organisation (FAO), the UN Development Programme (UNDP) and the UN Environment Programme (UNEP).
Global support to producers in the form of subsidies and other incentives, makes up 15 per cent of total agricultural production value. By 2030, this is projected to more than triple, to $1.759 trillion. The OECD defines agricultural support, as the annual monetary value of gross transfers to agriculture, from consumers and taxpayers, arising from government policies.
Photo courtesy of Joseph D’Mello.