- February 20, 2023
- Posted by: AITRC 2
- Categories: News, Report
WEEKLY TRADE POLL FOR AFRICAN COUNTRIES
FEBRUARY 2023
African agriculture has been affected by low productivity levels of staple crops, which has resulted in a lack of competitiveness. Despite having 25% of the world’s arable land, it is concerning that Africa only accounts for 10% of global agricultural production[1]. Moreover, food systems in Africa are becoming more vulnerable to risks and heavily dependent on imported food supplies. Shockingly, up to one-third of the continent’s caloric food consumption is imported. Also, in order to address the rising rate of hunger on the African continent and to enhance food security, the African Development Bank (AfDB) and International Fund for Agricultural Development (IFAD), a coalition of multilateral development banks and development partners, have pledged over US$17 billion in agriculture financing.[2]
Consequently, many African heads of state have agreed to increase agricultural output by doubling present production through scaling up agro-technologies, investing in market access, and promoting agricultural research and development. The interventions of African leaders are summarized in the seven-point action plan stated below:
- Accelerate agricultural production by taking technologies to scale.
- Increase investment in research and development.
- Optimize technology.
- Improve business language in agriculture to open up to the world.
- Support access to markets and the installation of basic infrastructure and equipment.
- Invest in new businesses to transform agricultural produce to support small producers.
- Create a facility for agricultural transformation.
However, the African Development Bank (AfDB) has several programs and initiatives to improve agricultural productivity and increase food security in Africa. These include financing agriculture infrastructure and technology, supporting agribusinesses, and promoting policies and programs that encourage sustainable agriculture.
WEEKLY AFRICA TRADE POLLS (THIRD WEEK FEBRUARY, 2023)
Following this backdrop, Africa International Trade and Commerce Research (AITCR) conducted a weekly trade poll for African countries to ascertain public perception and the expected duration for African farmers to double their production if they assess AfDB’s financial support. Findings from the polls reveal that 29 percent of the respondents opined that Africa would be able to double their agricultural production “under 2 years“, 60 percent affirmed that African farmers would be able to double their production “under 5 years”, 11 percent posit that African farmers will be able to double their production “under 10 years” while none affirmed that the goal is “not feasible”. Hence, it is implied that a higher proportion believed that Africa has the potential to double its agricultural production within 10 years.
On the other hand, the findings of this survey highlight the significant role that intervention support plays in promoting food security and agriculture in Africa. This includes enhancing food production and productivity, expanding market access, and improving labour and livelihood opportunities. It is vital to recognize that the agricultural yield depends on the ratio of inputs to outputs, which can be influenced by various factors such as land reforms, interplanting methods, better seeds, and effective water management
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[1] African countries commit to double agricultural productivity as development banks, institutions pledge US$17 billion to increase food security | African Development Bank – Building today, a better Africa tomorrow (afdb.org)
[2] AfDB, IFAD sign new pact to support 40m African farmers, increase financing | The Guardian Nigeria News – Nigeria and World News — Nigeria — The Guardian Nigeria News – Nigeria and World News
