Suryaa Business Desk: A recent report from the Organisation for Economic Co-operation and Development (OECD) states that while government financial support for the agricultural sector has reached record levels globally, the majority of these funds are being directed toward temporary crisis relief. The report expresses concern that investments in scientific research, infrastructure, and modern innovations, which are essential for long-term production growth, are declining.
According to OECD data, total government support for agriculture has risen to an average of 885 billion dollars. The report notes that nearly half of this amount is allocated to policies that artificially influence market prices or are considered environmentally harmful. Developed nations are focusing heavily on emergency disaster relief and direct government payments, while developing countries are relying on price support schemes.
Experts analyzed that while these immediate measures provide temporary relief to farmers, they do not contribute to the productivity or stability of the agricultural sector. The OECD highlights that the slowing growth of agricultural productivity and reduced allocations for research and development pose risks to the future.
The report suggests that governments should move beyond stopgap measures and focus on modernizing agriculture to effectively address climate change. Economic experts emphasize that to sustainably increase food grain production for future population needs, governments must prioritize long-term investments and environmentally friendly policies.