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Working paperHave Recent Increases in International Cereal Prices Been Transmitted to Domestic Economies?
The experience in seven large Asian countries
2008Also available in:
No results found.International cereal prices (in US dollar terms) have been increasing since 2003, but it is domestic prices that affect food consumption and production. This paper analyzes, for seven large Asian countries, the extent to which domestic prices have increased since 2003 and presents several conclusions. First, the data show that the increases in world cereal prices have been accompanied by a real depreciation of the US dollar. For many countries (but not all), this depreciation has neutralized a s ubstantial proportion of the increase in world prices. Second, domestic commodity specific policies in several of these Asian countries have further stabilized domestic prices relative to the change in world prices. This has been especially true for rice, the main staple food in the region, but it is also true for wheat. On average, through the end of 2007, the increase in real domestic rice prices was about one-third of the increase in real US dollar world market rice prices. Third, for the spe cific cases analyzed here, producer or farmgate prices have changed by approximately the same percentage as consumer prices. Thus, in these Asian countries, domestic markets seem to be transmitting price changes between farmers and consumers rather efficiently. Fourth, the experience with urea fertilizer prices is more heterogeneous: some countries are following free trade, while others have stabilized prices in nominal terms. -
Meeting documentTrade, food security and climate change: Recent literature and policy implications 2017
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Technical studyInitiative on Soaring Food Prices. Country Responses to the Food Security Crisis: Nature and Preliminary Implications of the Policies Pursued 2009
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No results found.The report intends to examine the short-term measures adopted by some 81 countries and is intended for policy makers and analysts. Prices of staple foods, such as rice and vegetable oil, have doubled between January and May 2008. High food prices together with record petroleum and fertilizer prices have spurred inflation. Poorer households with a larger share of food in their total expenditures are suffering the most from high food prices, due to the erosion of purchasing power, which has a negative impact on food security, nutrition and access to school and health services. Higher prices also result in pressure on public expenditures which undermines funding of programmes aiming at alleviating poverty or meeting MDG targets. A series of immediate short-term policy measures have been implemented by countries in response to respond to rising food prices. These responses can be categorized in three groups: - Trade-related measures; - Consumers-related measures; and, - Producers-related measures.
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