Climate Change: Economic Implications for World Agriculture

Agricultural activities contribute to global climate change, and crop production will be affected if and when climate changes. Despite substantial yield effects of climate change, the economic effect on national and world economies is estimated to be small, as reduced production potential in some areas is balanced by gains in others. A slight increase in world output and a decline in commodity prices are estimated under a moderate climate change impact scenario. There remain major uncertainties in estimating future emissions of greenhouse gases that contribute to climate change, costs of controlling climate change, and the effects of climate change on society.