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Learn moreFeb 2019
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Asia Pacific is the largest food producer globally, with output valued at USD2,783 billion in 2017. The region is expected to record the highest growth in global context over the forecast period based on projected productivity and yield increases. Nevertheless, agricultural producers in Asia Pacific are recording weaker performance in foreign trade mainly due regions demographic trends, as exports stagnate while imports gradually grow in order to feed the growing population..
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Asia Pacific is the largest agricultural producer globally, and agriculture plays vital role for region economy as the sector employs a fifth of total workforce and takes up more than half of the region’s land area. Asia Pacific’s agricultural sector is expected to record the steepest growth in a global context over the forecast period with a 4.1% CAGR over 2017-2030.
China and India are the main contributors to Asia Pacific’s food output thanks to their ample arable land and vast population-caused food demand growth. The trend is set to continue with strong governmental financial support to induce mechanisation and productivity in agriculture.
Asia Pacific records a negative trade balance as the majority of produced food is required to feed domestic population. Indeed, stagnating agricultural exports and gradual increase in imports over the last five years are to continue over the medium term the region still struggle with domestic undernourishment. In addition, the majority of Asia Pacific’s countries’ exports are direct to neighbours.
Already relatively high fertiliser use and large percentage of land dedicated to agriculture leaves the sector largely dependent on improved equipment to expand. Some major producers are already applying advanced machinery to increase productivity, however Asia Pacific’s market is largely populated by smallholder farms that do not have the funds to invest in advanced machinery, so sufficient governmental subsidies are vital for future development.
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