Global Agricultural Food Trade Has More Than Doubled Since 1995 Says FAO

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The Global agricultural 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) noted 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.

The report estimates that about one-third of global agricultural and food exports are traded within a global value chain and cross borders at least twice. The rise of global value chains is driven by income growth, lower trade barriers and technological advancements, which have transformed markets and trade processes, linking farmers to traders and consumers across regions and countries. FAO says that by participating in global value chains, smallholder farmers can boost their food production and income. On average and in the short term, a 10% increase in agriculture’s global value chain participation can result in an increase of around 1.2% in labour productivity, finds the report.

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