The Economic Viability of Small-Scale Farming in a Globalized Market

Abstract

Small-scale farming plays a crucial role in the global agricultural landscape, contributing significantly to food security, rural livelihoods, and ecological sustainability. However, the economic viability of small-scale farming is increasingly challenged by the forces of globalization, market volatility, and changing consumer preferences. This article explores the economic viability of small-scale farming in a globalized market, with a specific focus on the world, Asia, and India. Through a comprehensive analysis of primary and secondary data, including case studies, statistical reports, and policy documents, the article examines the key factors influencing the economic viability of small-scale farming, such as market access, agricultural policies, technological innovations, and sustainable practices. The findings reveal that while small-scale farming faces numerous challenges, it also presents opportunities for enhancing economic viability through targeted interventions, such as improving market linkages, promoting sustainable intensification, and leveraging traditional knowledge. The article concludes by proposing a framework for strengthening the economic viability of small-scale farming in a globalized market, emphasizing the need for inclusive policies, institutional support, and collaborative efforts among stakeholders.