Leading economies propesed to spend more on agriculture
Business |
World's most developed economies urged to spend more to ensure sustainable agriculture industry.
The world's most developed economies spent less on agricultural aid last year, the Organization for Economic Co-operation and Development revealed Thursday.
The organization, comprised of 34 of the world's leading economies, called on governments to focus on improving agricultural productivity and sustainability, in its annual report on agricultural policy.
High prices and high incomes in the farm sector have created the right conditions for deeper reform of agricultural policies, and much more needs to be done beyond fine-tuning, said OECD Secretary-General Angel Gurria.
The report said that support for producers had slipped by more than $8 billion and noted that Australia, Chile and New Zealand only provide funds for safety measures, disaster relief and research and development.
More market intervention mechanisms should be dismantled in favour of support that is less connected to production and more targeted to specific needs, in line with stated policy priorities of increasing productivity and sustainability," the report said.
The organizations report highlights major differences among OECD countries in the level and composition of support they provide to the agricultural industry.
The organization, comprised of 34 of the world's leading economies, called on governments to focus on improving agricultural productivity and sustainability, in its annual report on agricultural policy.
High prices and high incomes in the farm sector have created the right conditions for deeper reform of agricultural policies, and much more needs to be done beyond fine-tuning, said OECD Secretary-General Angel Gurria.
The report said that support for producers had slipped by more than $8 billion and noted that Australia, Chile and New Zealand only provide funds for safety measures, disaster relief and research and development.
More market intervention mechanisms should be dismantled in favour of support that is less connected to production and more targeted to specific needs, in line with stated policy priorities of increasing productivity and sustainability," the report said.
The organizations report highlights major differences among OECD countries in the level and composition of support they provide to the agricultural industry.
