Crisis-driven farming aid overlooks investment, OECD says
SPY•Global government support for farming reached a record of more than $950 billion last year, up nearly 15% from 2023, but support for productivity and resilience investment remained stable as a share of production value.
1. Aid rose to a record
Government support for agriculture worldwide jumped in response to weather and geopolitical shocks, the OECD said. Support across 56 countries exceeded $950 billion last year, nearly 15% above the 2023 level, and rose to 19.1% of agricultural production value from 17.6%.
2. Investment remains limited
Price support, particularly in emerging economies, was the main driver of the increase. Support for general services such as infrastructure and innovation remained stable at about 2.4% of production value. The OECD estimated agricultural productivity growth slowed to 0.8% per year in 2014-2023, from 1.8% in 1991-2000.
