A cryptic historic background is given of the International Undertaking for Plant Genetic Resources and the Convention on Biological Diversity. Issues evolving from these international deliberations, eg the divide between developed and developing countries are highlighted. An overview is given of the present FAO effort to reconcile the two within the context of Farmers’ Rights, Scope and Access to plant genetic resources for food and agriculture. Attention is paid to real and potential clashes between Farmers’ Rights and farmers’ privileges with Plant Breeders Rights and Trade Related Intellectual Property Rights under UPOV and the WTO. An overview is given of Agenda-21’s multidimensional, conservationistic, developmental and research goals, linked with The International Undertaking and the CBD. This was done to indicate that agricultural economics is well equipped and has the responsibility to research the effects of these Conventions on rural communities and the economy in South Africa in general.