The coronavirus pandemic has delivered a dual shock to supply and demand in quick succession. It’s a serious threat to food security because even though there is enough food for everyone in the world, it’s not a given that people have access to it.
Food crises and distress migration will continue to plague the African continent in the decades ahead, unless massive investments are made to make the region’s agriculture and food systems more resilient.
We propose three global collective actions to meet these goals: the creation of a small emergency physical food reserve; an international co-ordinated global food reserve; and a virtual reserve. These actions bring together developed and developing countries for a sustainable policy response to a global crisis.
The current food crisis has several causes—rising demand for food and feed, biofuels, high oil prices, climate change, stagnant agricultural productivity growth—but there is increasing evidence that the crisis is being made worse by the malfunctioning of world grain markets. Given the thinness of major markets for cereals, the restrictions on grain exports imposed by … Continue reading Policy Brief: Physical and Virtual Global Food Reserves to Protect the Poor and Prevent Market Failure