International Association of Agricultural Economists

Twenty percent of the world population, or 1.2 billion live on less than $1 per day; 70 % of these are rural and 90 % in Asia and Sub-Saharan Africa. Research led technological change in agriculture generates sufficient productivity growth to give high rates of return in Africa and Asia and has a substantial impact on poverty, currently reducing this number by 27 million per annum, whereas productivity growth in industry and services has no impact. The per capita “cost ” of poverty reduction by means of agricultural research expenditures in Africa is $144 and in Asia $180, or 50 cents per day, but this is covered by output growth. By contrast, the per capita cost for the richer countries of Latin America is over $11,000.