This three-part Vi multimedia resource features the perspectives of international experts on the causes, impact and policy implications of commodity price volatility.
Maximo Torero, Director of the International Food Policy Research Institute, reviews policy actions being put in place to mitigate the excessive agricultural commodity price volatility endangering world food security.
Against a background of what he coins the four global crises: food, finance, fuel and climate change, Torero details mitigation challenges such as determining/maintaining physical reserves and regulation of the futures market.
Eugenio Díaz Bonilla, of the Inter-American Development Bank, takes a look at the evolution of the food price index, examining the events that have contributed to the roller coaster of the past 50 to 60 years.
Díaz Bonilla goes on to explain the process of defining price volatility, emphasizing that each country must use a systemic approach that takes into accounts shocks in various areas before considering appropriate mitigation and adaptation strategies.
Bernard Valluis, of the Association Nationale de La Meunerie Française, reviewed policies to deal with excesive agricultural commodities price volatility during an UNCTAD expert meeting held in March.
"There is an international consensus to mitigate highly volatitle prices of agricultural commodities when essential to food security and economic development of the poorest countries," he said, as he highlighted necessary financial reform and regulation.