ADM Executive Shares How Global Middle Class Is an Opportunity

Photo by Fred Miller

Patricia Woertz, chair of Archer Daniels Midland

Patricia Woertz, chair of the board of directors at Archer Daniels Midland Co., led a conversation on the emerging global middle class with students, alumni and faculty at the Dale and Betty Bumpers Distinguished Lecture Series hosted by the Dale Bumpers College of Agricultural, Food and Life Sciences at the University of Arkansas on March 31.

In her lecture, "The Emerging Global Middle Class: Threat or Opportunity?" Woertz evaluated the growth of developing nations' increasing household incomes related to the opportunities for agriculture.

"We are all probably familiar with the phrase 'the growing middle class' and may hear it all the time," said Woertz. "I think the magnitude and the impact is underappreciated and worth learning much more about because the impact of this new middle class will be significant over the next decade."

Woertz used China as an example. She said that 20 years ago, China had just entered the global economy and now China ranks first in purchasing power parity, which is a measure used to compare income levels in different countries.

Woertz went on to say there are three key concepts needed to make sure the new middle class is an opportunity for agriculture — productivity, connectivity and sustainability. The rising middle class will demand higher quality diets, a larger global network and a sustainable way to feed the world, she said.

The growing middle class is an opportunity for both Arkansas agriculture and ADM, said Woertz. With Arkansas the 14th-largest agricultural exporting state in the United States and ADM one of the world's largest agricultural processors and food ingredient providers, the two entities can complement each other, said Woertz.

The Tyson Family Foundation and Tyson Foods made a gift to the Bumpers College to endow the Dale and Betty Bumpers Distinguished Lecture Series. The series began in April 2012 with a visit from President Bill Clinton. This year's lecture was co-sponsored by the J. William Fulbright College of Arts and Sciences, and the Sam M. Walton College of Business.

About the Dale Bumpers College of Agricultural, Food and Life Sciences: Bumpers College provides life-changing opportunities to position and prepare graduates who will be leaders in the businesses associated with foods, family, the environment, agriculture, sustainability and human quality of life; and who will be first-choice candidates of employers looking for leaders, innovators, policy makers and entrepreneurs. The college is named for Dale Bumpers, former Arkansas governor and longtime U.S. senator who made the state prominent in national and international agriculture.

About the University of Arkansas: The University of Arkansas provides an internationally competitive education for undergraduate and graduate students in more than 200 academic programs. The university contributes new knowledge, economic development, basic and applied research, and creative activity while also providing service to academic and professional disciplines. The Carnegie Foundation classifies the University of Arkansas among only 2 percent of universities in America that have the highest level of research activity. U.S. News & World Report ranks the University of Arkansas among its top American public research universities. Founded in 1871, the University of Arkansas comprises 10 colleges and schools and maintains a low student-to-faculty ratio that promotes personal attention and close mentoring.