Grain Reserves and Food Security in MENA Countries

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Grain Reserves and food Security in MENA Countries BRIAN WRIGHT. University of California, Berkeley and CARLO CAFIERO. University of Naples Federico II, Italy Abstract Aggregate stocks of major grains declined to minimal feasible levels in 2007/08, due to high global income growth and biofuels mandates. Given minimal stocks, prices were very sensitive to shocks such as the Australian drought and biofuels demand boosts due to the oil price spike. The effects of these shocks were magnified by a sequence of trade restrictions by key exporters to protect vulnerable consumers, beginning in the thin global rice market in the fall of 2007, which turned market anxiety into panic. Recognizing the unreliability of imports, vulnerable Countries , including those in the Middle East and North Africa, (MENA), are now considering investing in strategic Reserves , pursuit of self sufficiency, and acquisition of foreign land to ensure supplies for Grain for domestic consumption.

Grain Reserves and Food Security in MENA Countries BRIAN WRIGHT University of California, Berkeley and CARLO CAFIERO University of Naples Federico II, Italy

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