The impact of COVID-19 on agricultural markets and GHG emissions

Abstract

The COVID-19 pandemic is expected to affect agricultural markets over the next decade. OECD analysis highlights how slower economic growth could affect food security, farm livelihoods, greenhouse gas emissions, and trade. The size of these impacts depends, among other things, on the severity of the drop in global GDP. Based on two scenarios for economic growth recovery, this brief describes how the economic shock from the pandemic could reverberate through the agriculture sector over the next decade.The COVID-19 pandemic is expected to affect agricultural markets over the next decade. OECD analysis highlights how slower economic growth could affect food security, farm livelihoods, greenhouse gas emissions, and trade. The size of these impacts depends, among other things, on the severity of the drop in global GDP. Based on two scenarios for economic growth recovery, this brief describes how the economic shock from the pandemic could reverberate through the agriculture sector over the next decade.