A new study carried out by LEI Wageningen UR for the European Commission found that a 40 percent reduction in food waste by private households and retail by 2020 would result in annual savings of € 123 per person. The reallocated savings would benefit some non-food sectors while harming some food sectors, but the its overall effect on the EU economy would be negligible as it continues to grow at an expected 17 percent between 2012 and 2020.
The reduction in food waste would allow the reduction of agricultural land in the EU by an estimated 28,940 sq.-km. The study suggests this land could then be used to grow food for export or to grow crops for biofuels.
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