With half of the world holding an election in 2024, challenges and opportunities will occur in trade negotiations, sanctions, tariffs and everything in between.  

Here is how the political outcomes could impact production of food, fiber and fuel: 

India

Reelected for an unprecedented third term, Narendra Modi has a strong protectionist position concerning agriculture with limitations on exports of rice, onions, sugar and wheat. Exports of these crops will be predicated on the impact of weather and output in that geographic area of the world. 

Mexico

As the next president, Claudia Sheinbaum’s direction could impact prices, especially for the protein industry. The impact could ripple to the grain industry, which provides the necessary inputs for the livestock sector. 

Russia

Vladimir Putin’s win was largely predetermined. His presidency will lead to more conflict in Ukraine and the Middle East, which will likely lead to more investment by the West.  

Such investment influences military action and can impact prices and cost of inputs. Any military action in the production areas or distribution channels in the Middle East or South China Sea, along with weather issues in the Panama Canal region, could abruptly change the economics of the U.S. and support agricultural industries.  

Related:How much are we leaving in the field?

Green energy 

Whether in the marketplace or the ballot box, the movement from fossil fuel consumption to green energy is receiving pushback in Europe and other areas of the globe. 

Incongruent global priorities by major emerging countries are requiring strategists to reconsider the unintended consequences. While many Western nations have been aggressive in the green energy movement, China and India are adding fossil fuel plants.