Food Policy: Its Role in Price Stability and Food Security

Cristina C. David

No DP 1997-11, Discussion Papers from Philippine Institute for Development Studies

Abstract: Due to the increase in prices of basic agricultural commodities in 1995, food price stability and food security have again emerged as a major policy concern. This paper argues that the sharp increases in prices of rice; largely the choice and management of policy instrument have caused corn and sugar. Highly protectionist policy on tariffs imposed on sensitive agricultural products is not sustainable over a prolonged period of time. Moreover, bidding out of the right to import while retaining quotas, can minimize gross errors in timing and amount of importation.

Keywords: food sector; food price stability; nominal protection rate; price instability (search for similar items in EconPapers)
Pages: 23
Date: 1997
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