WASHINGTON—The U.S. Department of Agriculture’s (USDA) released a new report, “What the 2008/2009 World Economic Crisis Means for Global Agricultural Trade,” which reveals that the global economic crisis that started in late 2008 has led to a sharp curtailment of international trade, including a short-term decline in the value of global agricultural trade of around 20 percent. While not uniform across commodities and regions, the trade impact appears to be stronger on crops than on livestock.
