Using Public Food Grain Stocks to Enhance Food Security
The recurrent global food price spikes in 2008 and 2010 rekindled interest in the use of national food grain stockpiles ('stocks') to enhance food security. They were a commonly used instrument in government responses to these food prices...
| Main Author: | |
|---|---|
| Format: | Commodities Study |
| Language: | English |
| Published: |
Washington, DC
2012
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2012/09/16687047/using-public-food-grain-stocks-enhance-food-security http://hdl.handle.net/10986/11878 |
| id |
okr-10986-11878 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCOUNTING AGRICULTURAL COMMODITIES AGRICULTURAL COMMODITY AGRICULTURAL GROWTH AGRICULTURAL POLICIES AGRICULTURAL POLICY AGRICULTURAL PRODUCTION AGRICULTURE ARBITRAGE BAGGING BANKING SYSTEMS BASIC NEEDS BENEFICIARIES BUTTER CA CASH PAYMENTS CASH TRANSACTIONS CASH TRANSFER CASH TRANSFERS CENTRAL BANKS CEREALS CHEESE COCOA COLLECTIVE ACTION COLLECTIVE ACTION PROBLEM COLLECTIVE ACTION PROBLEMS COMMODITIES COMMODITY COMMODITY PRICE COMMODITY PRICES COMPETITIVE ADVANTAGE COMPETITIVE MARKET COMPETITIVENESS CONSUMER EXPENDITURES CONSUMER PRICE CONSUMER PRICE INDEX CONSUMER PRICES COST OF CAPITAL COUNTRY TO COUNTRY CRITICAL NEEDS CURRENCY DEFAULTS DEFICITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DIVIDENDS DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC PRICES ECONOMIC CRISES ECONOMIC DOWNTURNS ELECTRONIC CASH ENERGY PRICES EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORTER EXPORTERS FINANCIAL SERVICES FINANCIAL SUPPORT FOOD AID FOOD AID PROGRAMS FOOD CROPS FOOD DEMAND FOOD DISTRIBUTION FOOD FORTIFICATION FOOD IMPORTS FOOD INSECURITY FOOD MARKETS FOOD NEEDS FOOD POLICY FOOD POLICY RESEARCH FOOD PREFERENCES FOOD PRICE FOOD PRICE INFLATION FOOD PRICES FOOD RESERVES FOOD SAFETY FOOD SECURITY FOOD SHORTAGES FOOD STAPLES FOOD SUBSIDY FOOD SUBSIDY PROGRAMS FOOD SUPPLY FOOD TRANSFERS FOODGRAINS FORWARD MARKETS GOVERNMENT INTERVENTION GOVERNMENT SUBSIDY GRAIN PRODUCTION GRAIN RESERVES GRAINS GROSS DOMESTIC PRODUCT HOLDING HOUSEHOLD INCOME HOUSEHOLD INCOMES IFPRI INCENTIVE STRUCTURE INCOME INCOME GROWTH INCOME SHOCKS INCOMES INFORMATION SYSTEM INPUT PRICES INSTRUMENT INSURANCE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INTERNATIONAL MARKET INTERNATIONAL MARKETS INTERNATIONAL TRADE INVENTORIES INVENTORY INVESTING JOB CREATION LOAN LOCAL ECONOMIES LOGISTICAL SUPPORT LONG-TERM INVESTMENTS MAIZE MARKET CONDITIONS MARKET DEVELOPMENTS MARKET DISTORTIONS MARKET FAILURES MARKET INFORMATION MARKET LEVEL MARKET LEVELS MARKET PLAYERS MARKET PRICE MARKET PRICES MARKET TREND MARKET TRENDS MARKETING MEAL MILLS MONOPOLY NATURAL RESOURCES OPPORTUNITY COSTS OUTPUT OUTPUTS PADDY POLITICAL STABILITY POVERTY ALLEVIATION PRICE BAND PRICE BANDS PRICE CEILING PRICE FLOOR PRICE FLUCTUATIONS PRICE INCENTIVES PRICE INFLATION PRICE INSTABILITY PRICE LEVELS PRICE MOVEMENTS PRICE POLICY PRICE STABILITY PRICE STABILIZATION PRICE VARIATIONS PRICE VOLATILITY PRIVATE INVESTMENT PRODUCER PRICES PROFIT MARGINS PROTEINS PUBLIC BUDGETS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC POLICY PUBLIC SPENDING PUBLIC STOCK PUBLIC STOCKS PURCHASING PURCHASING POWER RATES OF RETURN RECURRENT EXPENDITURE REGIONAL INTEGRATION REGIONAL TRADE REMOTE AREAS RESERVE RETURN RICE MARKETING RISK AVERSION RUBBER RURAL INFRASTRUCTURE SAFETY NET SAFETY NETS SALE SALES SAVINGS SECURITY RISKS SELLING PRICES SOCIAL COSTS STABILIZATION POLICIES STOCK MANAGEMENT STOCKS STRUCTURAL PROBLEM SUPPLY CHAIN SUPPLY CHAINS SUPPLY SHOCKS SURPLUS SURPLUSES TRANSPARENCY TREASURY VITAMINS WAREHOUSES WFP WHEAT WHOLESALE PRICE WORLD FOOD PROGRAMME WORLD MARKET WORLD MARKETS WORLD TRADE |
| spellingShingle |
ACCOUNTING AGRICULTURAL COMMODITIES AGRICULTURAL COMMODITY AGRICULTURAL GROWTH AGRICULTURAL POLICIES AGRICULTURAL POLICY AGRICULTURAL PRODUCTION AGRICULTURE ARBITRAGE BAGGING BANKING SYSTEMS BASIC NEEDS BENEFICIARIES BUTTER CA CASH PAYMENTS CASH TRANSACTIONS CASH TRANSFER CASH TRANSFERS CENTRAL BANKS CEREALS CHEESE COCOA COLLECTIVE ACTION COLLECTIVE ACTION PROBLEM COLLECTIVE ACTION PROBLEMS COMMODITIES COMMODITY COMMODITY PRICE COMMODITY PRICES COMPETITIVE ADVANTAGE COMPETITIVE MARKET COMPETITIVENESS CONSUMER EXPENDITURES CONSUMER PRICE CONSUMER PRICE INDEX CONSUMER PRICES COST OF CAPITAL COUNTRY TO COUNTRY CRITICAL NEEDS CURRENCY DEFAULTS DEFICITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DIVIDENDS DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC PRICES ECONOMIC CRISES ECONOMIC DOWNTURNS ELECTRONIC CASH ENERGY PRICES EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORTER EXPORTERS FINANCIAL SERVICES FINANCIAL SUPPORT FOOD AID FOOD AID PROGRAMS FOOD CROPS FOOD DEMAND FOOD DISTRIBUTION FOOD FORTIFICATION FOOD IMPORTS FOOD INSECURITY FOOD MARKETS FOOD NEEDS FOOD POLICY FOOD POLICY RESEARCH FOOD PREFERENCES FOOD PRICE FOOD PRICE INFLATION FOOD PRICES FOOD RESERVES FOOD SAFETY FOOD SECURITY FOOD SHORTAGES FOOD STAPLES FOOD SUBSIDY FOOD SUBSIDY PROGRAMS FOOD SUPPLY FOOD TRANSFERS FOODGRAINS FORWARD MARKETS GOVERNMENT INTERVENTION GOVERNMENT SUBSIDY GRAIN PRODUCTION GRAIN RESERVES GRAINS GROSS DOMESTIC PRODUCT HOLDING HOUSEHOLD INCOME HOUSEHOLD INCOMES IFPRI INCENTIVE STRUCTURE INCOME INCOME GROWTH INCOME SHOCKS INCOMES INFORMATION SYSTEM INPUT PRICES INSTRUMENT INSURANCE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INTERNATIONAL MARKET INTERNATIONAL MARKETS INTERNATIONAL TRADE INVENTORIES INVENTORY INVESTING JOB CREATION LOAN LOCAL ECONOMIES LOGISTICAL SUPPORT LONG-TERM INVESTMENTS MAIZE MARKET CONDITIONS MARKET DEVELOPMENTS MARKET DISTORTIONS MARKET FAILURES MARKET INFORMATION MARKET LEVEL MARKET LEVELS MARKET PLAYERS MARKET PRICE MARKET PRICES MARKET TREND MARKET TRENDS MARKETING MEAL MILLS MONOPOLY NATURAL RESOURCES OPPORTUNITY COSTS OUTPUT OUTPUTS PADDY POLITICAL STABILITY POVERTY ALLEVIATION PRICE BAND PRICE BANDS PRICE CEILING PRICE FLOOR PRICE FLUCTUATIONS PRICE INCENTIVES PRICE INFLATION PRICE INSTABILITY PRICE LEVELS PRICE MOVEMENTS PRICE POLICY PRICE STABILITY PRICE STABILIZATION PRICE VARIATIONS PRICE VOLATILITY PRIVATE INVESTMENT PRODUCER PRICES PROFIT MARGINS PROTEINS PUBLIC BUDGETS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC POLICY PUBLIC SPENDING PUBLIC STOCK PUBLIC STOCKS PURCHASING PURCHASING POWER RATES OF RETURN RECURRENT EXPENDITURE REGIONAL INTEGRATION REGIONAL TRADE REMOTE AREAS RESERVE RETURN RICE MARKETING RISK AVERSION RUBBER RURAL INFRASTRUCTURE SAFETY NET SAFETY NETS SALE SALES SAVINGS SECURITY RISKS SELLING PRICES SOCIAL COSTS STABILIZATION POLICIES STOCK MANAGEMENT STOCKS STRUCTURAL PROBLEM SUPPLY CHAIN SUPPLY CHAINS SUPPLY SHOCKS SURPLUS SURPLUSES TRANSPARENCY TREASURY VITAMINS WAREHOUSES WFP WHEAT WHOLESALE PRICE WORLD FOOD PROGRAMME WORLD MARKET WORLD MARKETS WORLD TRADE World Bank Using Public Food Grain Stocks to Enhance Food Security |
| description |
The recurrent global food price spikes
in 2008 and 2010 rekindled interest in the use of national
food grain stockpiles ('stocks') to enhance food
security. They were a commonly used instrument in government
responses to these food prices spikes. They were also widely
considered as a useful tool after the 1974 food crisis and
its associated food price volatility and supply disruptions.
Large stocks became a reality at the global level in the
1980s and 1990s as a side-product of farm income support
policies in the developed countries. However, large
'buffer' or 'intervention' stocks, as
the grain accumulations in developed countries came to be
called, eventually proved to be very costly forms of
producer income support and were drawn down for fiscal and
other reasons starting in the late 1990s. This report,
prepared for government and development partner
practitioners, revisits the issues and evidence concerning
grain stocks. It starts with an open mind concerning stocks
as policy tools and specifically seeks to avoid the
polarization of views that grew up around the topic in the
1980s and 1990s. It takes the form of an evidence-based
review of developing country experience. Historically, grain
stocks have been used for two main purposes. First, to
stabilize domestic prices and second, to provide readily
available emergency food and safety net reserves targeted at
the most vulnerable. The assessment of actual experience of
using grain stocks for these two purposes is summarized as
follows. Using grain stocks to stabilize domestic prices has
generally not been an effective instrument to improve food
security outcomes. Developed countries no longer use stocks
to stabilize domestic prices due to the unpredictability and
often unsustainably high budget costs. In Africa and Asia,
where price stabilization programs are still frequently
pursued, high fiscal costs are crowding out needed public
investment in agricultural productivity and rural
infrastructure. The often unpredictable grain purchases and
releases of stabilization programs are discouraging private
investment in both grain production and storage, which are
the key to lowering both the level and volatility of food prices. |
| format |
Economic & Sector Work :: Commodities Study |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Using Public Food Grain Stocks to Enhance Food Security |
| title_short |
Using Public Food Grain Stocks to Enhance Food Security |
| title_full |
Using Public Food Grain Stocks to Enhance Food Security |
| title_fullStr |
Using Public Food Grain Stocks to Enhance Food Security |
| title_full_unstemmed |
Using Public Food Grain Stocks to Enhance Food Security |
| title_sort |
using public food grain stocks to enhance food security |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2012/09/16687047/using-public-food-grain-stocks-enhance-food-security http://hdl.handle.net/10986/11878 |
| _version_ |
1764418384590536704 |
| spelling |
okr-10986-118782021-04-23T14:02:58Z Using Public Food Grain Stocks to Enhance Food Security World Bank ACCOUNTING AGRICULTURAL COMMODITIES AGRICULTURAL COMMODITY AGRICULTURAL GROWTH AGRICULTURAL POLICIES AGRICULTURAL POLICY AGRICULTURAL PRODUCTION AGRICULTURE ARBITRAGE BAGGING BANKING SYSTEMS BASIC NEEDS BENEFICIARIES BUTTER CA CASH PAYMENTS CASH TRANSACTIONS CASH TRANSFER CASH TRANSFERS CENTRAL BANKS CEREALS CHEESE COCOA COLLECTIVE ACTION COLLECTIVE ACTION PROBLEM COLLECTIVE ACTION PROBLEMS COMMODITIES COMMODITY COMMODITY PRICE COMMODITY PRICES COMPETITIVE ADVANTAGE COMPETITIVE MARKET COMPETITIVENESS CONSUMER EXPENDITURES CONSUMER PRICE CONSUMER PRICE INDEX CONSUMER PRICES COST OF CAPITAL COUNTRY TO COUNTRY CRITICAL NEEDS CURRENCY DEFAULTS DEFICITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DIVIDENDS DOMESTIC MARKET DOMESTIC MARKETS DOMESTIC PRICES ECONOMIC CRISES ECONOMIC DOWNTURNS ELECTRONIC CASH ENERGY PRICES EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORTER EXPORTERS FINANCIAL SERVICES FINANCIAL SUPPORT FOOD AID FOOD AID PROGRAMS FOOD CROPS FOOD DEMAND FOOD DISTRIBUTION FOOD FORTIFICATION FOOD IMPORTS FOOD INSECURITY FOOD MARKETS FOOD NEEDS FOOD POLICY FOOD POLICY RESEARCH FOOD PREFERENCES FOOD PRICE FOOD PRICE INFLATION FOOD PRICES FOOD RESERVES FOOD SAFETY FOOD SECURITY FOOD SHORTAGES FOOD STAPLES FOOD SUBSIDY FOOD SUBSIDY PROGRAMS FOOD SUPPLY FOOD TRANSFERS FOODGRAINS FORWARD MARKETS GOVERNMENT INTERVENTION GOVERNMENT SUBSIDY GRAIN PRODUCTION GRAIN RESERVES GRAINS GROSS DOMESTIC PRODUCT HOLDING HOUSEHOLD INCOME HOUSEHOLD INCOMES IFPRI INCENTIVE STRUCTURE INCOME INCOME GROWTH INCOME SHOCKS INCOMES INFORMATION SYSTEM INPUT PRICES INSTRUMENT INSURANCE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INTERNATIONAL MARKET INTERNATIONAL MARKETS INTERNATIONAL TRADE INVENTORIES INVENTORY INVESTING JOB CREATION LOAN LOCAL ECONOMIES LOGISTICAL SUPPORT LONG-TERM INVESTMENTS MAIZE MARKET CONDITIONS MARKET DEVELOPMENTS MARKET DISTORTIONS MARKET FAILURES MARKET INFORMATION MARKET LEVEL MARKET LEVELS MARKET PLAYERS MARKET PRICE MARKET PRICES MARKET TREND MARKET TRENDS MARKETING MEAL MILLS MONOPOLY NATURAL RESOURCES OPPORTUNITY COSTS OUTPUT OUTPUTS PADDY POLITICAL STABILITY POVERTY ALLEVIATION PRICE BAND PRICE BANDS PRICE CEILING PRICE FLOOR PRICE FLUCTUATIONS PRICE INCENTIVES PRICE INFLATION PRICE INSTABILITY PRICE LEVELS PRICE MOVEMENTS PRICE POLICY PRICE STABILITY PRICE STABILIZATION PRICE VARIATIONS PRICE VOLATILITY PRIVATE INVESTMENT PRODUCER PRICES PROFIT MARGINS PROTEINS PUBLIC BUDGETS PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC POLICY PUBLIC SPENDING PUBLIC STOCK PUBLIC STOCKS PURCHASING PURCHASING POWER RATES OF RETURN RECURRENT EXPENDITURE REGIONAL INTEGRATION REGIONAL TRADE REMOTE AREAS RESERVE RETURN RICE MARKETING RISK AVERSION RUBBER RURAL INFRASTRUCTURE SAFETY NET SAFETY NETS SALE SALES SAVINGS SECURITY RISKS SELLING PRICES SOCIAL COSTS STABILIZATION POLICIES STOCK MANAGEMENT STOCKS STRUCTURAL PROBLEM SUPPLY CHAIN SUPPLY CHAINS SUPPLY SHOCKS SURPLUS SURPLUSES TRANSPARENCY TREASURY VITAMINS WAREHOUSES WFP WHEAT WHOLESALE PRICE WORLD FOOD PROGRAMME WORLD MARKET WORLD MARKETS WORLD TRADE The recurrent global food price spikes in 2008 and 2010 rekindled interest in the use of national food grain stockpiles ('stocks') to enhance food security. They were a commonly used instrument in government responses to these food prices spikes. They were also widely considered as a useful tool after the 1974 food crisis and its associated food price volatility and supply disruptions. Large stocks became a reality at the global level in the 1980s and 1990s as a side-product of farm income support policies in the developed countries. However, large 'buffer' or 'intervention' stocks, as the grain accumulations in developed countries came to be called, eventually proved to be very costly forms of producer income support and were drawn down for fiscal and other reasons starting in the late 1990s. This report, prepared for government and development partner practitioners, revisits the issues and evidence concerning grain stocks. It starts with an open mind concerning stocks as policy tools and specifically seeks to avoid the polarization of views that grew up around the topic in the 1980s and 1990s. It takes the form of an evidence-based review of developing country experience. Historically, grain stocks have been used for two main purposes. First, to stabilize domestic prices and second, to provide readily available emergency food and safety net reserves targeted at the most vulnerable. The assessment of actual experience of using grain stocks for these two purposes is summarized as follows. Using grain stocks to stabilize domestic prices has generally not been an effective instrument to improve food security outcomes. Developed countries no longer use stocks to stabilize domestic prices due to the unpredictability and often unsustainably high budget costs. In Africa and Asia, where price stabilization programs are still frequently pursued, high fiscal costs are crowding out needed public investment in agricultural productivity and rural infrastructure. The often unpredictable grain purchases and releases of stabilization programs are discouraging private investment in both grain production and storage, which are the key to lowering both the level and volatility of food prices. 2012-12-04T17:20:21Z 2012-12-04T17:20:21Z 2012-09 http://documents.worldbank.org/curated/en/2012/09/16687047/using-public-food-grain-stocks-enhance-food-security http://hdl.handle.net/10986/11878 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Commodities Study Economic & Sector Work |