A fundamental thesis is that while there are some instruments that can be beneficial irrespective of the time horizon, there are nevertheless difficult trade-offs between short and long-term priorities, and a strategic framework needs to acknowledge those trade-offs. Smallholders may be efficient in the technical or allocative sense, but they often struggle to be competitive, either because of their lack of endowments, or because they confront missing or under-developed markets. Insufficient farm size may also be an issue, although other assets, such as farm management skills may also be lacking.2 The competitiveness of smallholders may also be undermined by external factors, such as subsidised exports arriving on internal markets.