Indian Council for Research on International Economic Relations

Stabilizing Food Prices through Buffer Stocking and Trade policies

 

 

Stabilizing Food Prices through Buffer Stocking and Trade policies

(With Centre for Development Research (ZEF), University of Bonn, Germany)

 

 

This study, undertaken in co-operation with ZEF, seeks to explore and analyze the buffer-stocking policies in India, and make recommendations aimed at ensuring that the stocking operations are cost effective and at the same time efficient in achieving the stabilization and food security objectives. The 2013 enacted National Food Security Act is an extension of the existing food security policies of the country and has a huge bearing on the agricultural policy landscape of the country. Post the 2008 global food crisis, decisions on strategic buffer stocking of food grains have become a big issue, particularly for populous countries like India and China. Such decisions have cost and price repercussions at both intra-country and global levels. Countries view buffer stocks as a potential means to dampen short-term price volatility while treating most production enhancing policies to work only in the longer term. But public buffer stocking does not come free of costs and its operations are said to be marred by systemic inefficiencies. Therefore there is a need felt to revisit not just the existing buffer stocking operations but also the policy itself.

 

Contact Persons: Ashok Gulati and Shweta Saini

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