Food

The 2007-2009 spike in cereals prices was a shock, coming as it did, 34 years after the last major spike on world markets.

The spike resuscitated old fears that the world might be running out of food, that governments fearful of food scarcity might pursue beggar-my-neighbour policies, and that speculators might use the markets to make profits while pushing up the price of staples. Above all, it highlighted the profound inequities in food economies where food goes to those with the means to buy it, and not to those in need.

ODI has an established work stream on food and food-related issues, including food security and food aid. Our research addresses a number of key questions, such as:

• How did the food price spike happen? Which factors were most important? What can be done to prevent them reoccurring?
• Are international markets too volatile and is this getting worse? Can volatility be calmed? How important was, and is, speculation?
• Is the world running short of food? Is the spike the harbinger of more difficult times ahead, with more expensive food?
• What can be done to reduce food poverty and hunger? Why is progress on reducing this so slow and halting?