Economics has always been useful in understanding agricultural practices throughout the world. Production issues, efficient management, demand for agricultural commodities in developing countries etc., leads to some fascinating facts prevailing into the industry. Current paper will describe some latest applicable reports on economics and agriculture co-relations.
Pacific trade deal, also called CPTPP, to which Japan is emphatically flagging that needs to advance rapidly with CPTPP. This trade agreement can bring the intensely affirmative result to Canadian beef industry, says a recent report from CCA news. If Japanese agreement gets acknowledged by Canada, we will be among 11 nations marking to CPTPP. And consequences will be an indistinguishable tax from Australian hamburger. The U.S. won’t be a piece of the deal and will stay at a substantially higher levy. If Canada joins CPTPP, Canadian beef will join the group of providers to Japan or if it remains away from trade agreement beef producers will fail the opportunity to be better-off.
Moving to world’s second largest producer of agricultural commodities, India shares total of 17.9% of its GDP in agriculture and accounts for 7.68 % of total global agricultural output. Total production of agriculture sector in India reaches $ 366.92 billion reveals CIA Factbook. Some fascinating decisions are made under Union budget 2017-18. Agriculture growth is expected to grow at the rate of 4.1% this year in return for an allocation of funding, which is said to 24% higher than the last year. Also, recent co-operative plan for agriculture and water between Israel and India will surely bring some stunning results in agribusiness. Probably it could be good news for shareholders in Agri-food sectors as it is estimated that share prices for stock markets in agriculture industries might inflate.
Talking about some global Agribusiness-markets, influence on Canadian market is likely to occur as an extension of 6.5% is expected in Chinese GDP, whereas Indian GDP is expected to be 1% more in the year 2018. Imposition of 50% tariffs on the import of Canadian peas by Indian government will impact in lowering the price of other crops.