Globalization on the world food market creates new competition threats

The transition of agricultural production from a local to the global level take place through monopolizing the key positions in the goods supply chain and a growing dependency of the agrarian market on transnational corporations.

“The world food market is on the edge of global changes. As the UN Food and Agriculture Organization estimates, by 2050 the demand for food products will double. BRICS is the main source of the increasing demand”, emphasized the Head of the Federal Antimonopoly Service (FAS Russia) Igor Artemiev at the Round Table “Food Value Chains and BRICS Competition Law” on 20 May 2016 during the IV Petersburg International Legal Forum.

Globalization has a significant impact upon competition on the food market. “To work out an adequate response to the economic concentration processes in the agrarian sector, the BRICS Working Group on food products is analyzing the global food markets. The findings will be used to devise the tools to counter violations”, pointed out Igor Artemiev. “If we unite our efforts we will be able to influence the situation”.