Rising Food Prices in East Asia : Challenges and Policy Options

Large increases in international food prices in 2007 and early 2008 have become a key concern for policy makers in East Asia. The increases are likely to have a significant impact on the living standards of many, particularly the poor. By March 200...

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Bibliographic Details
Main Authors:	Brahmbhatt, Milan, Christiaensen, Luc
Format:	Policy Note
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCESS TO FOOD ADMINISTRATIVE COSTS ADVANCED COUNTRIES AGRICULTURAL CHEMICALS AGRICULTURAL EXPORT AGRICULTURAL PRODUCTION AGRICULTURAL PRODUCTIVITY AGRICULTURAL R&AMP;D AGRICULTURAL RESEARCH AGRICULTURAL SECTOR AGRICULTURAL TRADE AGRICULTURE AGRONOMIC PRACTICES ALTERNATIVE ENERGY BLACK MARKETS BUFFER STOCKS CALORIC INTAKE CARBON DIOXIDE CARBON DIOXIDE EMISSIONS CASH TRANSFER PROGRAMS CASH TRANSFERS CEREALS CLIMATE CHANGE COMMODITY COMMODITY PRICES CONSUMER PRICE CONSUMER PRICE INFLATION COOKING CORN CROP PRODUCTION CROP RESIDUES CROP YIELD CURRENCY DEMAND GROWTH DEVELOPING COUNTRIES DOMESTIC INFLATION DOMESTIC MARKET DOMESTIC PRICE DOMESTIC PRICES DROUGHT ECONOMIC GROWTH ENERGY PRICES EXPENDITURE EXPENDITURES EXPORT MARKETS FAO FEED FEED GRAINS FERTILIZERS FINANCIAL CRISIS FISCAL DEFICITS FLOUR FOOD AID FOOD AID DISTRIBUTION FOOD AVAILABILITY FOOD BUYERS FOOD CONSUMPTION FOOD CROP FOOD CROPS FOOD DISTRIBUTION FOOD EXPENDITURES FOOD EXPORT FOOD FOR ALL FOOD FOR WORK FOOD IMPORTS FOOD INSECURITY FOOD INTAKE FOOD ITEMS FOOD MARKETS FOOD PRICE FOOD PRICE INFLATION FOOD PRICE SUBSIDIES FOOD PRICES FOOD PRODUCERS FOOD PRODUCTION FOOD PRODUCTS FOOD SECURITY FOOD STAMPS FOOD STOCKS FOOD SUBSIDIES FOOD SUBSIDY FOOD SUPPLIES FOOD SUPPLY FOOD SURPLUS FOOD-FOR-WORK FOODS FUTURE CONTRACTS GLOBAL MARKET GOVERNMENT INVOLVEMENT GRAIN GRAIN PRODUCTION GRAINS GREENHOUSE GAS GREENHOUSE GAS EMISSIONS GREENHOUSE GASES HARVEST HOUSEHOLD CONSUMPTION HOUSEHOLD FOOD SECURITY HOUSEHOLD HEADS IFPRI INCOME INCOME GAINS INCOME GROUPS INCOMES INSURANCE INTERNATIONAL COOPERATION INTERNATIONAL MARKET INTERNATIONAL MARKETS INTERNATIONAL RICE RESEARCH INSTITUTE IRRI IRRIGATION IRRIGATION SYSTEMS LOCAL CURRENCIES LOCAL FARMERS MAIZE MARGINAL LANDS MARKET BASED INSTRUMENTS MARKET CONDITIONS MARKET DISRUPTION MARKET FORCES MARKET LIBERALIZATION MARKETING MEAT MILLS OILSEEDS PACIFIC REGION PALM OIL PER CAPITA CONSUMPTION POLITICAL ECONOMY POLITICAL PLATFORM POOR POOR FAMILIES POOR HOUSEHOLDS POOR INFRASTRUCTURE POPULATION GROWTH PORK POST OFFICE POVERTY LINE POVERTY RATES POVERTY REDUCING POVERTY REDUCTION PRICE CHANGES PRICE CONTROLS PRICE INCREASE PRICE INCREASES PRICE LEVELS PRICE MOVEMENTS PRICE STABILIZATION PRICE SUBSIDY PRICE VOLATILITY PRIVATE MARKETS PUBLIC DEBT PUBLIC SAFETY NET PUBLIC SPENDING PUBLIC WORKS PUBLIC WORKS PROGRAMS PURCHASING PURCHASING POWER RAPID EXPANSION RATION SHOPS REPUTATION RICE RICE CROPS RICE RESEARCH RICE VARIETIES RICE YIELDS RURAL RURAL AREAS RURAL POOR RURAL WORKERS SAFETY NET SAFETY NET PROGRAMS SAFETY NETS SALES SAVANNAS SCHOOL FEEDING SCHOOL FEEDING PROGRAMS SEEDS SOCIAL PROTECTION SOYBEAN SOYBEANS STARCH SUBSTITUTES SUBSTITUTION SUGAR SUGAR CANE SUGARS SUPERMARKETS SUPPLIER SUPPLY SHOCKS SUSTAINABLE DEVELOPMENT SWINE SWINE FEVER TARGETING TAX TAX CREDIT TECHNOLOGICAL ADVANCES TRADE OPPORTUNITIES TRANSPARENCY URBANIZATION WHEAT WHEAT HARVESTS WORLD MARKET WORLD MARKETS
Online Access:	http://documents.worldbank.org/curated/en/2008/05/9761420/rising-food-prices-east-asia-challenges-policy-options http://hdl.handle.net/10986/19521

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Summary:	Large increases in international food prices in 2007 and early 2008 have become a key concern for policy makers in East Asia. The increases are likely to have a significant impact on the living standards of many, particularly the poor. By March 2008, dollar nominated world food prices were more than two and a half times higher than in early 2002. Almost three quarters of this increase occurred since the start of 2007, and about half since the beginning of 2008. Recent sharp increases in international rice prices are of particular concern in East Asia. Food comprises 30 to 50 percent of the consumption basket of the average household in East Asia (compared to 15 percent in the United States). Within that, rice accounts for one third of the daily caloric intake, followed by wheat (12.4 percent), pork (8.8 percent), corn (4.4 percent), soybean and palm oil (3.4 percent and 1.8 percent respectively). This note examines the reasons for the surge in world food prices, in particular of rice in section two. It reviews the economic and poverty impacts of rising food prices in East Asian countries in section three. Finally, it concludes by assessing policy responses undertaken by East Asian economies so far, and discusses policy options going forward, including the importance of regional and international cooperation in addressing high food prices in section four.

Rising Food Prices in East Asia : Challenges and Policy Options

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