According to the report, digital agriculture can boost the economies of low- and middle-income countries

Digital agriculture could support the economies of low- and middle-income countries (LMICs) by around $500 billion annually by 2033, according to the report. LMICs include Latin America and the Caribbean, South Asia, Southeast Asia, and Sub-Saharan Africa.  Recent findings from The State of  Digital Agriculture, Harnessing the Potential of Digitization in Agricultural Value Chains in Low- and Middle-Income Countries highlight the transformative potential of digital agriculture (D4Ag) in LMICs. The report was produced by Beanstalk AgTech, an innovation agency dedicated to unlocking the potential of agriculture as a driving force, and sponsored by USAID in partnership with the Bill and Melinda Gates Foundation and the UK Foreign, Commonwealth and Development Agency (FCDO). 

  A contribution of 500 billion dollars

    According to the report, in a “prosperous” scenario, D4Ag could support LMIC economies by $500 billion annually  by 2033, equivalent  to a 28 percent increase in agricultural production in these regions. Widespread adoption of D4Ag solutions is critical, and active users of D4Ag  are projected to reach 38 percent of target users across the agricultural value chain, up from  just 10 percent today.  The report is based on the extensive consultation that has taken place so far on the digitization of agriculture in LMIC countries. Based on the insights of more than 250 thought leaders and practitioners from more than 50 countries, the report offers insights and strategic recommendations that could shape the agricultural landscape and economy of LMICs. Almost 1,400 currently active D4Ag solutions have been identified in the LMIC region, involving a total of 50 million active users worldwide. The ecosystem is both focused and dynamic, with a short list of 10 markets representing 67 percent of active solutions in LMICs, and up to 50 percent of identified active D4Ag solutions created in the past five years, the release said.

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