Evolution of Agricultural and Food Markets

Abstract

The marketing of agricultural and food products takes place within the framework of a set of federal policies and programs which influence the production and terms of trade throughout the marketing system. This chapter traces the history of agricultural markets and policies affecting food and agricultural marketing. It then builds on previous studies, recognizing that the changing forces of globalization, multinational firm structures, consumerism, and societal values are creating challenges to the existing policies and programs. It subsequently introduces the need for dynamic adjustment of policies and programs to accommodate, facilitate, and regulate market changes in spite of limited public resources and the need for the private sector to pay a larger share of program costs. It concludes with identification of the criteria used to evaluate the consequences of current policies/programs and options for change.