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Managing High and Volatile Food Prices

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  • Martin, William J.

Abstract

The recent period of high and volatile food prices has cast doubt on many longstanding assumptions such as the inevitability of declining real food prices, and brought to an end a long period of food price stability. Some of the key driving forces appear to have been declines in yield growth for major commodities and the rapid growth of biofuels. Both high and volatile food prices are justly causes for concern. Key elements of the cure for high food prices include a strong focus on agricultural research and development, as well as rural development more generally, and a reconsideration of the role of biofuels. The best cures for food price volatility aim to reduce it by improving market information and reducing output volatility. Social safety nets are the best policy for coping with its effects, while the widely-used trade and storage policy measures have many complex and uncertain effects.

Suggested Citation

  • Martin, William J., 2012. "Managing High and Volatile Food Prices," Trade Issues Papers 142732, International Agricultural Trade Research Consortium.
    • Handle: RePEc:ags:iatrtp:142732
    DOI: 10.22004/ag.econ.142732
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    References listed on IDEAS

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    Cited by:

    1. Anania, Giovanni, 2013. "Agricultural Export Restrictions and the WTO: What Options Do Policy-Makers Have For Promoting Food Security?," Price Volatility and Beyond 320191, International Centre for Trade and Sustainable Development (ICTSD).
    2. Sisira Jayasuriya & Purushottam Mudbhary & Sumiter Broca, 2013. "Food Security in Asia: Recent Experiences, Issues and Challenges," Economic Papers, The Economic Society of Australia, vol. 32(3), pages 275-288, September.
    3. Derrill D. Watson, 2017. "The political economy of food price policy during the global food price crisis of 2006-2008," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 9(3), pages 497-509, June.

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    Keywords

    Agricultural and Food Policy; Food Consumption/Nutrition/Food Safety;

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