How Can India Help Prevent Food Price Volatility?

M. S. Swaminathan and Swarna Sadasivam Vepa

Working Papers from eSocialSciences

Abstract: This article is about India's role in reducing food price volatility in the world. India has come a long way from a ‘ship to mouth existence’ to a country that is ready to confer legal right to food to its citizens based on its own production. India has 18 per cent of the world's population and therefore food self sufficiency of India would be a blessing for the struggle against price volatility. By improving productivity, by reducing energy use, by augmenting water resources and by conserving prime farm land, India can produce enough food for an estimated population of 1.5 billion by 2030. Further, by controlling speculative trade in food prices, by maintaining stable domestic prices and by sharing its agricultural and food policy expertise, India can help reduce food price volatility. However, to reduce global price volatility and to remove price distortions in the world market, it is important to resolve the issues of agricultural trade and to adopt a small farmer friendly global trading system.

Keywords: food security; food prices; food sufficiency; agricultural and food policy; India; agricultural trade; food; farm land; domestic food supply; National Food Security Bill 2011; input cost; yield gap; agricultural technology; India (search for similar items in EconPapers)
Date: 2016-09
Note: Institutional Papers
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