Miller Magazine Issue: 140 August 2021

54 COVER STORY MILLER / august 2021 ties is, on current trends, expected to decrease by 2030. Over the medium term, weather, economic growth and the distribution of income, demographics and shifts in dietary patterns, technological developments and policy trends will shape food and agricultural prices. While the FAO Food Price Index has risen strongly in the past year, these increas- es are expected to be followed by a period of downward ad- justment. The Outlook projects that food prices will resume a gradually declining trajectory in real terms, consistent with slowing demand growth and expected productivity gains. While the Outlook focuses on medium-term trends, a wide range of factors can generate the conditions for short-term price fluctuations in agricultural markets. For instance, developments in energy markets, which affect input prices, and the greater volatility in grain prices as- sociated with the increasing market share of some coun- tries, contribute to the differences between projected and observed prices. ENHANCING FOOD SECURITY WITH DIGITAL TOOLS Emerging technologies are already changing the food and agriculture sector. Helping farmers take full advan- tage of new technologies such as digital agriculture, bio- technologies, precision agriculture, innovations in agro- ecology, 5G, and Artificial Intelligence can increase food production, while minimizing the environmental footprint. For example, the accelerators can help reduce physical inputs and improve/optimize their use. Digital tools — from e-commerce and blockchain transaction ledgers to improved pest control and crop genetics using AI — can optimize natural resources and enhance food security. Innovation in agriculture is a driving force for achieving a world free from hunger and malnutrition. Social innova- tions, policy innovations, institutional innovations, finan- cial innovations, and technological innovations are im- portant drivers affecting food and agricultural production and distribution processes. To transform the world through food and agriculture, we must bring together and accelerate innovation, tech- nology, data and governance and institutions so as to: i) get hunger back on a steep downward trend; ii) trans- form agri-food systems to nourish people, nurture the planet and build resilient livelihoods and ecosystems; and iii) commit to a rural transformation and invest ex- pressly in vulnerable populations to reduce inequality, leaving no country and no person behind.