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The Decline of Commodity Prices and Global Agricultural Trade Negotiations: A Game Changer?

Christophe Bellmann and Jonathan Hepburn

Abstract

With food prices reaching their lowest levels since 2006, governments have been under increased pressure to increase tariff protection or provide state aid to guarantee remunerative prices and maintain farm income domestically, often at the expense of smaller countries that cannot compete with the treasuries of large agriculture players. A review of trade-restrictive measures applied in the last 10 years confirms the resurgence of such isolating trade policies and a significant shift towards more government subsidies and market access protection. Based on this data and a review of recent policy changes in major economies such as the EU, US and China, this paper assesses the possible implications of this new price environment for future reforms of agricultural policies, including the prospects for removing trade distortions as envisaged under the 2030 Development Agenda.

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References

Electronic reference

Christophe Bellmann and Jonathan Hepburn, « The Decline of Commodity Prices and Global Agricultural Trade Negotiations: A Game Changer? », International Development Policy | Revue internationale de politique de développement [Online], 8.1 | 2017, Online since 09 June 2017, connection on 20 September 2017. URL : http://poldev.revues.org/2384 ; DOI : 10.4000/poldev.2384

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About the authors

Christophe Bellmann

Christophe Bellmann is a Senior Resident Research Associate at the International Centre for Trade and Sustainable Development (ICTSD) in Geneva, Switzerland.

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Jonathan Hepburn

Jonathan Hepburn is a Programme Manager at the International Centre for Trade and Sustainable Development and leads the ICTSD’s programme on agricultural trade and sustainable development

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Copyright

Creative Commons License
International Development Policy is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

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