Though the climate change has begun to create problems for food production all over the world, but the developing countries, especially of South Asia, are believed to be the most vulnerable to its adverse affects. A recent comprehensive assessment of the impact of climate change on agriculture, made by the International Food Policy Research Institute (IFPRI), has indicated that the yield of wheat may drop by as much as 50 per cent by 2050 from 2000 levels in South Asia. The productivity of rice is projected to dip by 17 per cent and that of maize by 6 per cent by that time. This study has also indicated that the prices of food crops like wheat, rice, maize and others will rise by between 121 per cent and 194 per cent by 2050 due to factors related to climate change. This, coupled with decreased yields of these crops, will threaten food security of some 1.6 billion people in South Asia and render 25 million more children malnourished world wide by 2050.
Calculations by the FAO have ind ...more

Yes sir its affected

The area covered under cultivation in developing countries is as follows:-
1979-81----------------> 95.6 million hector.
1997-99----------------> 110.7 M h
2015--------------------> 113.3 M h (Estimated)
2030------------------------> 118.4 M h (Estimated)

So, the area under cultivation is increased through this period. Even the developed countries with a few exceptions have grown their crops in an extended area. But, the supply is much less than the demand. Here lies the problem. All data are adapted from FAO yearly catalogue.

Yes, it will have adverse effect on the economy since the Govt. has to resort into imports.