Fighting inflation for the future of agriculture

Abstract

This study aimed to provide some suggestions on what should be done to stop the price increases in agricultural products and agriculture-related sectors in many countries of the world in order to ensure sustainability in agriculture. Owing to the Covid-19 pandemic, the countries of the world realized the necessity of being self-sufficient in all sectors. The most important of these sectors was the agricultural sector, which met the food needs of human beings and met the needs for raw materials in many other sectors. Climate change altered the life cycles of plant productions. This situation caused new unknowns in the future of agriculture. Due to the Covid-19 pandemic and climate change, the areas where agricultural products were grown had decreased and the exchange rates had increased. The increase in the prices of inputs used in agriculture caused prices rise both in the agricultural sector and in other sectors. These changes caused an increase in the general level of prices and raised the problem of increasing inflation. The type of inflation might differ from country to country. To solve the inflation problem, we had to know which type of inflation caused price increases in agriculture. Determining which factors affecting agriculture caused inflation might help us understand why agricultural production had decreased. Adaptation means getting used to a new situation. For this reason, the future of agriculture lies in adapting to changing conditions. It could be possible to increase agricultural production by restructuring the agricultural sector and making efforts ensuring stability in the exchange rate.