Scenario: It’s the year 2050 and the world’s population has passed 9 billion and is

now on its way to 10 billion. The amount of food needed is more than double what it
was 40 years before. Farms and farmers are relying more then ever on innovations
and technology to provide solutions to the challenges faced. 

Task 1: Discuss the potential consequences on the above situations in regards to the
average Australian, family, farmers and scientists. How will this situation affect:

The Australian economy:

Since Australian Agriculture is highly dependent on food export about 58%of the total
food product, their economy would be more stable since the food prices would
increase. Therefore, there will be a higher demand for food from Asian and US
Markets. Australian  markets would export more than they import creating a trade
surplus. This means that the employment rate in the country or countries will increase
and economic growth however this can lead to higher prices and interest rates within
an economy. This stabilises the economy as other countries that will have a trade
deficit will have to rely on the US and Asian Markets for political and economic
stability. 

Effect on families, scientists and farmers:

Since there will be a higher demand for food, Australia will most likely export 70% of
their food to other countries as seen in the table below to ensure a stable economy.
This means that 30% will be bought from Australian families. There would be a
limited supply from Asian food and American food as their country will most likely
be suffering from trade deficit as their main exports oil and coal would decrease.
Families in US and Asian continents would suffer from food insecurity as the price of
food would increase in these countries to counteract their economic instability.
Therefore food in these areas would be way too expensive and not accessible as there
would be a limited supply.

Asian and US Markets:

Since Asian and US Markets mostly imports food according to the table below, the
economy would most likely drop dramatically.

For this case, the prices of food would increase exponentially as the demand for food
has increased but there is a limited supply. Asia and US  will therefore result to
having more imports than exports creating a trade deficit and therefore must borrow
from other countries to pay for the extra imports. Since food is the most demanded
import, their economy would suffer as the price for iron ores and coal would decrease.
Countries with high import levels must increase their foreign currency reserves which
can affect the domestic currency, inflation and interest rates. 
           
Task 2: Predict how Australian livestock and cropping industries might change in
future to deal with the challenges of feeding a growing world population

Australia will have to adapt to the growing population by focusing most of their land
to growing food whilst maintaining efficient uses of water. As the demand for seafood
continues to surpass supplies of wild-caught fish and shellfish, marine aquaculture is
becoming recognized as the only serious solution for feeding a future global
population of 9 billion. One way to do this is by using shellfish aquaculture which is
sustainable and is the fastest food production sector. Shellfish aquaculture can
improve water quality by extracting nitrogen and phosphorus from coastal
waterways. 

As filter feeders, shellfish can improve water clarity which lessens the symptoms of
eutrophication/algal blooms which affects 415 estuaries worldwide. Several decades
ago relatively few countries appeared to be affected by algal blooms but now most
coastal countries are threatened. These blooms form massive blankets of slime on the
water’s surface that precipitate bacteria growth, deplete oxygen, and kill much of the
life in the water below. Shellfish farms are delectable and nutritious nutrient sinks. As
well as this 10,000 bivalves removes about 200 pounds of nitrogen per year; thus, a
shellfish farm of about 1,000 acres would compensate for the nitrogenous wastes of
about 50,000 coastal inhabitants. Shellfish aquaculture gear can provide refuge for
macro-fauna including fish and other invertebrates and reduces carbon dioxide and
oxygenate waterways. Evidently, it is a very sustainable practice which provides
food. 

Shellfish are a healthful addition to a balanced low-fat diet and are especially good
sources of iron, zinc, copper, and vitamin B12. Furthermore, shellfish are much lower
in saturated fat than pork or beef and provide high quality protein. Moreover, shellfish
contain significant amounts of heart-healthy omega-3’s, which are undetectable in
chicken, beef and pork. Shellfish aquaculture would provide greater global food
security and when farmed locally, mitigate the carbon transportation footprint.