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IMPACT OF THE GLOBAL ECONOMIC CRISIS ON THEAGRICULTURAL SECTORBy : Rufus LeandreChief Extension OfficerINTRODUCTION/OVERVIEW
 The
World Economic Crisis (WEC)
which is affecting the whole world insome form or other now would inevitably also have a profound effect onour fragile economy. Though otherwise suggested or touted we are largelyconsidered an
agrarian economy
that produces both crops and livestockand bananas mainly for the international market.Nationally this crisis is bound to affect our livelihood on the not todistant future. Especially the
agricultural sector
will most definitely feelthe effects of the
global economic recession
and these effects arealready manifest. The current global financial economic crisis is still unfolding. OECScountries have not yet begun feeling the impact and other developingcountries in the Asia/Pacific Region started to feel the impact deeplyfrom 3
rd
quarter. However it is still to early to comprehend the fullsocial/Economic impact of the crisis on the agricultural sector.Every effort and stand should be taken by our Regional governments toavert the impact of the global economic crisis on the agricultural sector.Apart from the numerous critics in support of the
Tourism Sector
as theback bone of our small island economics. Given the present crisis
agriculture
is the only sector which can provide some sustainability tothis economic dilemma that has been forced on our small IslandEconomies.Our government should make every effort and endeavour to furtherrevitalize the agricultural sector and give real meaning to the agriculturalsector as the true back bone of the
St. Lucian Economy
because ittouches the lives of rich, poor, old, young, visitors, humans and nonhumans. In fact, it impacts on the lives of all living things since it is thesector which feeds the St. Lucian population and the visitors to ourshores (tourist etc), provides its factories and agro industry with rawmaterials and generates a very significant portion of its
foreignexchange earnings.
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In our review of the
agriculture sector
we envisage two major effectsthat this global economic down turn will have on our island nation andthe agricultural sector in particular.
It has provided very serious and significant opportunities for thesector and for our country if we take immediate advantage of thepresent environment.
It is causing great concern especially for our export orientedfarmers.Global Economic changes are effecting the context under which farmersthroughout the developing world participate in the
agricultural sector
.
Economic globalization
has brought about such change as
liberalization
of 
trade
and
investment formulation
of RegionalEconomic agreements and implementation of 
structural adjustmentprojects (SAPS
) and the removal of subsidizes and price support. Whilesome farmers may benefit from
economic globalization
by shifting to
production
of 
export commodities
, accessing
niche markets
orfunding alternative sources of income related to emerging consumereconomics, many others are threatened by low crops prices removal of subsidizes, competition with cheaper imports, changes in creditavailability inability to gain access to internet. And a lack of access toimputs such as high yielding seeds, fertilizer and irrigation. Likewisechanges to climate are also affecting agricultural production throughincreased rainfall, droughts and heavy winds. The world today is in a crisis. The world agriculture is facing seriouslong term issues and challenges that need to be urgently addressed. These include land and water constraints, low investment in ruralinfrastructure and agri research, expensive agricultural imputs relativeto farm gate prices and little adoption to climate change. There is a real risk that as a consequence of the current world economicproblems people will have to reduce their food intake and the number of hungry could rise further. (Calpesaid).According to the Food Agricultural Organisation (FAO), the impacts of theF.C. will be left under contains at the MACRO level, with potentiallynegative effects on their agriculture sector and on their food security.
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 The channels through which agri markets will be affected are on both thedemand and supply side.Globalization has generated intense scholarly debates, heated polemics,public demonstrations and street protest.Widely held consensus think globalization offers opportunities as well asposes risks (costs)Globalization – the widening and deepening of International flows of trade, finance and information on a single integrated global market.(UNDP) 1997 and the liberalization of policies that supports markets.In past due to the forces of globalization many developed countries havereaped the benefits of faster economic growth, cheaper imports, newtechnologies and increased foreign competition.Agriculture has contributed much to the, until recently, widely feted StLucians model of economic growth and social progress. Althoughdifferent sub sectors have been affected to different degrees St Luciaagriculture has not been deeply hurt by the crisis. At the same time thecountry looks to its agriculture to lead it out of this crisis. There is no doubt that St Lucians farmers are capable of the hard workneeded to pull the economy into recovery. The increase in production areshown over the past thirty years testify to their abilities. Over this periodthe production of vegetables food and root crops, hot pepper and treecrops has risen six fold. Similarly the country is experiencing whichproduction has risen sharply in less than a quarter of a century.
OPPORTUNITIES
 The agricultural sector provides probably the best opportunity for ourcountry to ride out the Economic downturn and come out strongereconomically than ever before. Two main opportunities identified
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Farmers/producers/farmers groups and our nation on the wholeshould take advantage of the crisis and produce in large quantitiesfood and root crops, vegetable and increase our livestockdevelopment programe. This will ensure food security andsovereignty for our country, and open up massive opportunity to
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