Literature Review of Strategic Grain Reserves Interim Submissions

Managing food price risks and instability is a major challenge in the midst of ongoing food market reforms. This article summarizes the key findings from the papers in this special volume (the result of an international workshop of academics and practitioners). Questions addressed revolve around five broad areas: (i) the sources and magnitudes of food price instability in different country contexts; (ii) the economic and social costs stemming from price instability; (iii) the lessons from food market reforms to date; (iv) the design of policy reforms in ways that promote efficient and stable market development and protect the interests of the poor; and (v) potential policy responses to food price instability in a liberalizing market environment. Additional articles in this special volume may be of interest. Summary Article Type: Overview article summarizing papers presented in special issue, the result of a 2005 conference which aimed to synthesize views about best strategies for minimizing food price risks. Area Covered: Developing world, with attention to the higher risks faced by landlocked countries in Africa Conclusions: Development of market-oriented systems is likely to be the best option for achieving sustained agricultural production despite food price risks, and these risks can be minimized through a variety of specific strategies discussed in the paper (and supported by other papers within this special volume). 2) B. Ramaswami, B., & Balakrishnan, P. (2002). Food prices and the efficiency of public intervention: The case of the public distribution system in India. Food Policy 27(5), 419-436. Times Cited: 5