This report provides summaries of the papers and discussions at the third Consortium on Trade Research held in Washington, D.C., June 23-24, 1981. The cochairmen of the consortium were T. Kelley White, Economic Research Service (ERS), George E. Rossmiller, Foreign Agricultural Service (FAS), and Vernon Sorenson, Michigan State University. The Consortium focused on world demand for agricultural imports and the policies and conditions in low-income, middle-income, and centrally planned countries that influence import demand. An overview paper by Dewain Rahe and Cheryl Christensen assessed future global prospects for agricultural trade. Peter Timmer's paper investigated conceptual and empirical problems in analyzing import demand. Three of the papers discussed the demand for food and agricultural products in the Soviet Union and China. Three additional papers focused on factors affecting import demand in low- and middle-income countries. A final set of papers examined the role of bilateral agreements and stockholding policies in agricultural trade.