Farming Power

2007-10-22  From Shanghai Daily

The latest World Development Report issued by the World Bank on Saturday urges transforming economies to strengthen investment in agriculture, in order to improve the well-being of poor farmers.

The report said agriculture was the foundation of sustainable development, and offered pathways out of poverty. For the poorest people, GDP growth originating in agriculture is about four times more effective in reducing poverty than GDP growth originating outside the sector, the report said. Price reforms should be carried out and subsidies be given to increase productivity in the staple foods sector, and high-value horticulture, poultry, aquaculture as well as dairy markets should be developed, said the report.