Abstract
Public sector attempts to determine official producer and consumer prices suffer from a number of problems, made more apparent by the process of agricultural market liberalization. Six measures to ease the financial problems of policy adjustment are identified, covering the clarification of the post-reform role of official prices, the move towards economically based pricing structures, the introduction of within-year price flexibility to reduce the costs of intervention, the incorporation of macroeconomic linkages into the procedures for price setting, the use of multi-annual analysis and modelling for price determination, and the articulation of modified systems of price support as marketing board networks are cut back. An important conclusion is the need for a gradual, phased approach to price reform.
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