Now is the right time to rethink food-supply chains. As the expected shocks from climate change (longer droughts, more floods, etc.) we need to place greater weight on resilience. The question is whether we build resilience through decentralized market mechanisms or by command. In both cases credible real-time data are needed for decisions by all actors in supply chains.
US agriculture was early to use ICTs to improve efficiency. I recall sharing stories of information-savvy farmers with my classes in Ohio in the early 1990s. Now data is available of soil and weather conditions at a micro-level and farmers are beginning to be concerned that this big data when combined with other data could result in the rigging of futures markets: And the interested parties are familiar names on the farm—names like DuPont and, of course, Monsanto, which is on a buying spree. Monsanto bought the high-tech farm equipment maker Precision Planting in 2012. Last October, it bought the Climate Corporation, a data-analytics firm that provides weather-related farm services and crop insurance, and is also handling Monsanto’s fledgling data-related services.