International Conference of Agricultural Economists

Source-This post on International Conference of Agricultural Economists has been created based on the article “International Conference of Agricultural Economists: A chance to cement India-Africa partnership in food security” published in “The Indian Express” on 6 August 2024.

Context- India is hosting the 32nd International Conference of Agricultural Economists (ICAE) in Delhi from August 2-7. Prime Minister Narendra Modi will be the chief guest, and Agriculture Minister Shivraj Singh Chouhan will be the guest of honor. This is a notable event, as the last time India hosted the ICAE was in Mysore in 1958 with Prime Minister Jawaharlal Nehru.

India’s G20 presidency in 2022 and Brazil’s in 2023 shaped global food security and hunger policies. India also helped include the African Union in the G20, boosting South-South cooperation. The G20 presidencies from 2022 to 2025 (Indonesia, India, Brazil, South Africa) marks a shift towards prioritizing Global South interests in food systems governance.

What were the key findings from the ICAE session ?

A special ICAE session compared experiences of 20 major Indian states with 15 African countries from 2004-05 to 2019-20. Key findings include:

A) High debt service ratios lead to lower agricultural spending relative to social protection.

B) African countries consistently underfund agriculture compared to Indian states.

C) Both regions underinvest in high-return areas like agricultural R&D and extension.

D) The need for subsidy reforms and resource reallocation to boost agricultural growth and improve child nutrition outcomes.

What are global food security challenges?

1) Agriculture and Food Security– Achieving global food and nutritional security faces significant challenges due to climate change and geopolitical conflicts

2) Global Hunger and Investment- A study by the University of Bonn and FAO suggests that reaching zero hunger by 2030 is becoming unrealistic. It estimates that an extra $21 billion per year is needed in agriculture and rural areas to end global hunger by 2040.

What should be the way forward?

1) Bioeconomy Strategies– India and Brazil’s G20 focus on bioeconomy, along with China’s new strategy, highlights the growing global interest in this field. Building a bioeconomy would benefit from global investments, such as those from the Global Climate Fund.

Read More– Strengthening China-India Relations

2) Climate Resilience and System Transformation- It’s important to invest in climate resilience by focusing on adaptation, mitigation, and systemic changes.

3) Leveraging the Role of G20 and FAO- The G20 can positively influence global food security and hunger solutions. To advance these goals, the G20 should remain active, with the FAO offering crucial studies and investment advice.

4) India’s Leadership in South-South Cooperation- India can enhance agri-food connections between Africa and itself, benefiting a third of the world’s population. It should use its expertise at the G20 to address global food security challenges.

Question for practice

What are the challenges to global food security, and what steps should be taken to address them?