Investing in Agriculture: Far-Reaching Challenge, Significant Opportunity highlights the huge shortfall that would otherwise occur, given expected food and fuel supplies.

That shortfall is expected even if measures are taken to extend farming to degraded or abandoned areas and productivity levels are boosted through large-scale investment in fertilisers, irrigation and mechanisation.

Deutsche Bank's global head for climate change investment, Mark Fulton, said agriculture production would have to undergo a dramatic transformation to grow sustainably as it adapted to climate change and cut emissions.

"Meeting this challenge will require increased irrigation, mechanisation and fertilisation and that will create more investment opportunities as well as the need for education and sound government policy," Mr Fulton said.