International Agricultural Trade: Advanced Readings In Price Formation, Market Structure, And Price Instability

Agricultural trade has grown significantly, with the value of U. S. agricultural exports alone increasing more than fivefold during the 1970s. A book published in 1979 by A. F. McCalla and T. E. Josling (editors) resulted from a project funded by the U. S. Department of Agriculture and Agriculture Canada.

Format: Paperback / softback
Length: 324 pages
Publication date: 30 June 2022
Publisher: Taylor & Francis Ltd

Agricultural trade has emerged as a crucial component of global agriculture, with remarkable growth witnessed during the 1970s. The value of U. S. agricultural exports alone experienced a staggering fivefold increase during this period. In April 1978, a group of West Coast agricultural economists gathered to establish what is now known as the International Trade Consortium, supported in part by the U. S. Department of Agriculture and Agriculture Canada. As a result of this initiative, a book titled "Imperfect Markets in Agricultural Trade" was published in 1979, with editors A. F. McCalla and T. E. Josling. This book, in turn, emerged from a meeting of the International Trade Consortium held in Berkeley, California, in the early 1980s.

The significance of agricultural trade lies in its ability to facilitate the exchange of goods and services between countries, promoting economic development and stability. By opening up new markets and reducing trade barriers, agricultural trade can help farmers and producers access a wider range of resources, technologies, and markets, leading to increased productivity, profitability, and food security.

One of the key drivers of agricultural trade growth has been the expansion of global trade networks. The rise of international trade agreements, such as the World Trade Organization (WTO) and regional trade agreements, has facilitated the smooth flow of goods across borders, reducing tariffs, quotas, and other trade restrictions. This has allowed countries to specialize in producing goods that they have a comparative advantage in, leading to increased efficiency and productivity.

In addition to the expansion of trade networks, technological advancements have played a significant role in driving agricultural trade growth. The introduction of new crop varieties, improved irrigation systems, and precision agriculture technologies have enabled farmers to produce more food with fewer resources, leading to increased yields and reduced food waste.

Furthermore, agricultural trade has had a positive impact on rural development and poverty reduction. By creating job opportunities in both agriculture and related industries, agricultural trade can help to alleviate poverty in rural areas and improve the quality of life for farmers and their families.

However, agricultural trade also presents challenges and risks. One of the main concerns is the impact of trade on domestic agriculture and food security. If domestic farmers are unable to compete with cheaper imports, they may be forced to reduce production or exit the market, leading to job losses and economic instability. Additionally, trade can also lead to environmental degradation and the loss of biodiversity if not managed properly.

To address these challenges, governments and international organizations have implemented policies and regulations to promote fair and sustainable agricultural trade. These policies include measures to protect domestic agriculture, support small-scale farmers, and address environmental concerns.

In conclusion, agricultural trade has become an integral part of global agriculture, with remarkable growth witnessed during the 1970s. By facilitating the exchange of goods and services, promoting economic development, and improving food security, agricultural trade has the potential to make a significant impact on the lives of millions of people around the world. However, it is important to manage trade in a fair and sustainable manner to ensure that it benefits all parties involved.

Dimension: 229 x 152 (mm)
ISBN-13: 9780367170172