Modern agriculture is undergoing sea change in its production
and ownerships. Demand for food is rising in face of globalization
and rise in living standard of people. Use of modern technology and
association of various stakeholders have complicated the social
cost of modern agriculture.
Social cost refers to the negative externalities such as use of
pesticides and resultant adverse implications for ecological
balances. Further, concentration of farm in few limited hands has
led to the exploitation of labors. Now small holdings are becoming
unviable.
Rise in demand for food domestically and internationally has
led to the mammoth rise in social cost of production.