The world population is on the rise and is expected to reach 9.7 billion by 2050. With this increase, it is estimated that food production needs to increase by 60 percent. Agriculture experts recognize this need and work to bring products to the market that will increase sustainability and profitability within the industry. Agriculture has been forced to adapt and change through the years, but sustainability is a focus now more than ever. Many government agencies across the world, including the United States Department of Agriculture, are investing in sustainable or climate friendly projects.
Sustainable Practices
The United States’ sustainability primer defines sustainability criteria to include environmental, social and economic factors. All three of these pillars are considered when developing and implementing sustainable practices. Examples of sustainable practices include, building healthy soils, preventing erosion, managing water usage, increasing resilience and promoting biodiversity. Farmers can do this through rotating crops, using cover crops, reducing tillage, using biologicals, integrating livestock and crops, adopting agroforestry, and managing landscapes as well as many other practices. Agriculture experts are integral in the technical development of products that will assist farmers in increasing sustainability on farms. However, experts also recognize that investing in certain sustainable practices could influence profits on farms.
Balancing Profitability
Adopting new practices on farms that may increase sustainability, may not necessarily increase profits for farmers. This is a balancing act for many of the world’s farms today. Agriculture experts state that sustainability efforts must be practical, productive and profitable for farmers. To expound on these three principles, sustainability efforts or technologies must be manageable for farmers to implement by improving practices and trying not to change too many things at once on farms. Practicality involves giving farmers the exact steps they can take to improve sustainability on their farms. These practices should also be productive for farmers, for example, increasing yields. Ideally, practices that are environmentally friendly will also improve overall production. Profitability is a huge factor when adopting or changing practices. Adopting technologies can require a significant financial investment. While there is always inherent risk, products and practices promoting sustainability must sustain or improve profits on farms as well.
Final Thoughts
There is not a one size fits all answer when it comes to balancing profitability and environmental stewardship. The agriculture industry must work together to find the balance between the two and move production levels in a positive direction. Profits are not more important than sustainability, and sustainability is not more important than increased profits. As experts help bring new products to the market, practicality, productivity and profitability must be considered. Reports show a decrease in productivity on farms and climate events disrupting productivity gains. Less productivity produces less profit, which is indicated in reports stating net farm income decreased by 25 percent from 2023. The industry as a whole must come together to both increase production while keeping environmental stewardship and profitability in mind.
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