GLOBAL CONSUMPTION PATTERNS, QUALITY AND FOOD DEMAND

There are significant disparities in the wealth of nations and how incomes spent. For example, consumers poorest countries spend more than half income on food, while richest countries, this is one-tenth or less. We use recently published data from International Comparison Program for 176 to estimate cross-country demands. Considerable progress can be made accounting much consumption patterns with simple utility-maximisation model which variations prices key drivers. This leads measures “quality” its price based a luxury-necessity-revealed-preference approach, as well projections future world food demand.