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IAAE Presidential address by Dr. David Colman: Agriculture's Terms of Trade: Issues and Implications

In his Presidential address on 8/17, Dr. David Colman discussed the question of whether agriculture commodity prices will diverge from other sector prices. He feels that it is likely that agriculture's terms of trade will improve against other sectors, with the situation varying by country and commodity. He feels that the big questions for agriculture in the future are not about prices, but are about 1) how many people will adapt to remain successful in farming, 2) how instututions and policy will adapt to assist those living off the land, 3) how trade reform might reduce obsticles to agricultural development in poorer countries, and 4) how to deal with the displacement effects of climate change on agriculture.