Abstract
The increasing demand for biomass for energy use is further escalating existing food security risks. Managing these risks is a task for global institutions. These should ensure timely investment in the world's capacity for producing biomass and balance the use of this biomass for foods and for non-foods. To achieve this, institutional arrangements for global food markets must fulfil two important goals: reduce the short-term price instability of food markets and prevent a structural scarcity of food in the long term. This paper analyses how agro-food markets, energy markets and biofuel markets are currently regulated. As this regulation is ill-suited to manage food price instabilities and balance food and non-food use of biomass, new institutions need to be put in place. A coordinated system of global commodity management - not unlike the Commodity Control Organization proposed by Keynes for the post-WWII era - is proposed to deal with these coming challenges.
Original language | English |
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Pages (from-to) | 291-303 |
Journal | Food Security |
Volume | 1 |
Issue number | 3 |
DOIs | |
Publication status | Published - 2009 |
Keywords
- agricultural markets
- trade
- liberalization
- biofuels
- growth
- rice