With US$60 billion worth of food products and other products sold each year, food companies have always been interested in a global market for their products.
But what about when it comes to the global food supply?
The world’s food supply is the biggest single market for US$1.3 trillion worth of products, according to the International Monetary Fund.
But for the first time, there is a global food demand forecast to increase to $1.5 trillion by 2050.
That’s according to a report by the International Food Information Association (IFIA), a Washington, DC-based organization that represents the interests of the food industry.
The IFAI predicts that by 2050, the global market will be worth around $7.2 trillion.
And by the end of the century, the world’s farmers will need more than half of this total, according the report.
In an effort to increase food supply in a world that is growing more densely populated and crowded, global food producers have been looking for ways to reduce their production costs.
That includes switching to cheaper, more efficient technology, which could help keep food prices down.
But that has never really happened before.
The problem is that it can be difficult to predict how technology will change in the coming years, said Andrew Wigand, the director of the IFAi.
“I think the big challenge is that the data isn’t necessarily readily available,” he told NBC News.
The technology itself is still a relatively new concept, so it is hard to compare it to how we think about food today, Wigare said.
“So we can’t really say, ‘What will the food system look like in five years’?” he said.
“The big challenge with technology in the future is that we don’t really have a lot of data to tell us how that might change in terms of production costs.”
In order to understand how the technology could affect food prices in the long term, the ITAI created a model to look at the impact of technology on the food supply, including the impact on food prices per unit of production, which can be an important factor in food price fluctuations.
Wigand and his colleagues estimate that if the global economy were to grow at 2 percent per year, the number of people who live in developing countries would rise from 12.7 million to 18.2 million by the year 2060.
That means that the cost of producing food would increase by 1.2 percent, Wiggand said.
By comparison, the average global price for wheat, corn, rice and soybeans currently stands at about $8 per bushel.
That would increase to about $21 per bushell in 2050.
“In the long run, if you take away the price growth that would come about by switching to new technologies, we’d see a pretty similar picture,” Wigat said.
In other words, a 1 percent increase in production costs could lead to a 2 percent decrease in the price of food, Wigea said.
But the IGAI said that there are other factors that could be a big contributor to this price shift.
For example, there are more people on the planet, which means there are greater demand for agricultural commodities.
Wig and his team looked at this potential effect by calculating the cost per calorie of different types of agricultural products, such as beef, pork, chicken and dairy.
In the US, beef is the most expensive beef.
In Europe, pork is the least expensive.
But these prices could change dramatically as demand for beef rises, Wigsaid.
“The reason that meat prices are so high is because in the developing world, there’s a lot more demand,” Wigeasaid.
“In the developing countries, beef and pork are not cheap.
But the price increases that are happening in the developed countries are not because of new technologies but because of the high prices that are already there.”
While the cost may seem high, it is not the only factor that is driving prices.
Wige said that while some consumers are concerned about rising food prices, many consumers are actually benefiting from the lower prices.
“Some of the consumers are buying cheaper products,” he said, “and some of the producers are buying more of their product, which makes a difference.”
Wigare and his colleague at the IFI said that food prices are also likely to be driven by the changing nature of the agricultural industry.
“For example, some farmers will not be able to afford to raise the cattle they produce, and some will have to sell more of those animals to feed the demand,” he added.
Wige and his fellow researchers also found that farmers are increasingly concerned about their food supply.
They found that most farmers are concerned that they won’t be able the resources to meet the growing demand for their produce.
“As more people start farming in their communities, they are starting to realize that it is a very expensive business, that they are spending more on food