Approximating the global economic (market) value of farmed animals

Peggy Schrobback; Gabriel Dennis; Yin Li; Dianne Mayberry; Alexandra Shaw; Theodore Knight-Jones; Thomas Lloyd Marsh; Dustin L. Pendell; Paul R. Torgerson; William Gilbert; Benjamin Huntington; Kassy Raymond; Deborah A. Stacey; Theresa Bernardo; Mieghan Bruce; K. Marie McIntyre; Jonathan Rushton; Mario Herrero

doi:10.1016/j.gfs.2023.100722

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Approximating the global economic (market) value of farmed animals

Journal article

Open access

Approximating the global economic (market) value of farmed animals

Peggy Schrobback, Gabriel Dennis, Yin Li, Dianne Mayberry, Alexandra Shaw, Theodore Knight-Jones, Thomas Lloyd Marsh, Dustin L. Pendell, Paul R. Torgerson, William Gilbert, …

Global food security, Vol.39, 100722

2023

DOI: https://doi.org/10.1016/j.gfs.2023.100722

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Abstract

Aquaculture

Farmed animals

Food security

Livestock

Market

Non-market value

Total economic value

Understanding the global economic importance of farmed animals to society is essential as a baseline for decision making about future food systems. We estimated the annual global economic (market) value of live animals and primary production outputs, e.g., meat, eggs, milk, from terrestrial and aquatic farmed animal systems. The results suggest that the total global market value of farmed animals ranges between 1.61 and 3.3 trillion USD (2018) and is expected to be similar in absolute terms to the market value of crop outputs (2.57 trillion USD). The cattle sector dominates the market value of farmed animals. The study highlights the need to consider other values of farmed animals to society, e.g., finance/insurance value and cultural value, in decisions about the sector’s future.

Details

Title: Approximating the global economic (market) value of farmed animals
Authors/Creators: Peggy Schrobback - Commonwealth Scientific and Industrial Research Organisation
Gabriel Dennis - Commonwealth Scientific and Industrial Research Organisation
Yin Li - Murdoch University
Dianne Mayberry - Commonwealth Scientific and Industrial Research Organisation
Alexandra Shaw - University of Edinburgh
Theodore Knight-Jones - Global Burden of Animal Diseases Programme, UK1
Thomas Lloyd Marsh - Washington State University
Dustin L. Pendell - Kansas State University
Paul R. Torgerson - University of Zurich
William Gilbert - University of Liverpool
Benjamin Huntington - University of Liverpool
Kassy Raymond - University of Guelph
Deborah A. Stacey - University of Guelph
Theresa Bernardo - University of Guelph
Mieghan Bruce - Murdoch University
K. Marie McIntyre - University of Liverpool
Jonathan Rushton - University of Liverpool
Mario Herrero - Center for Global Development
Publication Details: Global food security, Vol.39, 100722
Publisher: Elsevier B.V
Identifiers: 991005609242107891
Murdoch Affiliation: Centre for Biosecurity and One Health; School of Veterinary Medicine
Language: English
Resource Type: Journal article

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