The future for agriculture is bright. The simple truth behind that is that people need to eat. We know that the demand is there and will continue to be there as the world population grows and emerging economies grow and develop. While that sounds all well and good for the agricultural producer, the fact is that those emerging economies and changing demands exert pressure on the market and end up making not just food, but agricultural inputs volatile as well. That makes farming a business that is secure from a needs basis but insecure from a profitability standpoint. To keep that producer afloat and secure through these volatile times, a risk management strategy is needed.
Wayne Jones is with the Organisation for Economic Cooperation & Development. He spoke at this years Canadian Food Summit in Toronto about that current volatility as well as the need for risk management and increased production among producers worldwide. We spoke to him there.
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