Agricultural Productivity and Global Food Security in the Long Run

The relative rates of growth in the supply and demand for food, feed and fiber have far-reaching economic and social consequences, most readily observed through changes in commodity prices. Over the past 50 years and longer, the supply of food commodities has grown faster than the demand, in spite of increasing population and rising per capita incomes. As a consequence, the real (deflated) prices of food commodities have trended down over many years, contributing significantly to the alleviation of hunger and poverty worldwide.

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