This report uses three scenarios to investigate the possible response of world food prices, food production and trade to the projected increase in demand. This work builds on agrifood modelling in ABARES Food demand to 2050: Opportunities for Australian agriculture (Linehan et al. 2012a).
The uncertainties and dynamics surrounding factors such as climate change, international trade policy and biofuels policies add to the complexity of modelling global agrifood markets out to 2050. However, scenario analysis, which isolates each of these issues, allows for an assessment of indicative price and production responses over the projection period across different regions and agrifood commodities. A reference scenario is developed for this project using a set of assumptions drawn from the literature. The reference scenario serves as a starting point for the policy analysis and shows the sensitivity of the projections to changes in assumptions and parameter values.
ORBIS is powered by ESPAS, the European Strategy and Policy Analysis System, a unique inter-institutional project aimed at strengthening the EU's efforts in the crucial area of forward planning. ESPAS brings together the European Commission, the European Parliament, the Secretariat General of the Council of the European Union and the European External Action Service to strengthen the Union's collective administrative capacity to identify and analyse the key trends and challenges, and the resulting policy choices, which are likely to confront Europe and the wider world in the decades ahead.