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Report shows significant growth on research investment in agriculture
Jun. 12, 2012
A recently completed ERS study provides, for the first time, detailed information on global research and development (R&D) spending in seven agricultural input sectors—crop seed and biotechnology, crop protection chemicals, synthetic fertilizers, farm machinery, animal health, animal breeding and genetics, and animal nutrition, focusing on the 1994-2010 period. Findings show that private-sector R&D expenditures in input industries increased by more than 40 percent in real (inflation-adjusted) dollars over the period. In 2010, global private-sector investments in research and development (R&D) to improve agricultural inputs reached $11.0 billion, up from $5.6 billion in 1994.The emergence of biotechnology and other scientific developments, the strengthening of intellectual property rights (IPR) over agricultural innovations, the global expansion of markets for agricultural inputs, and changing government regulations are some of the factors driving this growth in research expenditures.
For Complete report, click here.
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