Policy Responses to 2008 High Food Prices: Domestic Incentives and Global Implications
Global food commodity price inflation beginning in 2006 and continuing through mid-2008 became a priority concern for global consumers, producers and policy-makers alike. In response, many governments across the world implemented policies targeting high food commodity prices in their domestic markets. These policy responses were concentrated in lower income countries and primarily targeted rice and wheat. The 2007-08 policy responses across countries included liberalized import tariffs, export restrictions and increased domestic support for both consumers and producers. We develop a case study of 15 major global trading, lower-income countries’ policy responses . The analysis addressed the following questions: a) What policy responses did major global traders with relatively large domestic food commodity price vulnerabilities choose?; b) What are the expected short-term and potential longer-term market impacts of these policies?; c) What domestic incentives exist for the selected countries’ policy choices?; and d) Did the response policies work? History may repeat itself in the face of future global price surges unless sufficient feedback is received from trading partners. Looking at India’s and Vietnam’s experience, it appears that short-term goals associated with the rice export bans were achieved, both in terms of perceived mitigation of domestic prices and political objectives. Without tangible consequences, market disrupting policies could be expected in the future if the domestic incentives within relevant countries persist.
|Date of creation:||Jul 2009|
|Contact details of provider:|| Postal: 555 East Wells Street, Suite 1100, Milwaukee, Wisconsin 53202|
Phone: (414) 918-3190
Fax: (414) 276-3349
Web page: http://www.aaea.org
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Derek Headey & Shenggen Fan, 2008.
"Anatomy of a crisis: the causes and consequences of surging food prices,"
International Association of Agricultural Economists, vol. 39(s1), pages 375-391, November.
- Headey, Derek & Fan, Shenggen, 2008. "Anatomy of a crisis: The causes and consequences of surging food prices," IFPRI discussion papers 831, International Food Policy Research Institute (IFPRI).
- von Braun, Joachim, 2008. "Food and financial crises: Implications for agriculture and the poor," Food policy reports 20, International Food Policy Research Institute (IFPRI).
- Peters, May & Langley, Suchada V. & Westcott, Paul C., 2009. "Agricultural Commodity Price Spikes in the 1970s and 1990s: Valuable Lessons for Today," Amber Waves, United States Department of Agriculture, Economic Research Service, March. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:ags:aaea09:104506. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.