Policy Options for Developing Countries to Support Food Security in the Post-Uruguay Round Period

Abstract

ABSTRACT This paper analyzes the possible evolution of the level and variability of world market prices of basic food commodities as a result of the Uruguay Round Agreement on Agriculture and other developments under way. Policy options available to developing countries to support food production and to safeguard against market instability are identified, and suggestions are made on how the international community can support these efforts. Overall, existing flexibility in the Agreement on Agriculture allows developing countries to pursue policies in support of domestic food production and consumption and to mitigate the effects of possible world price instability Some remaining problems must be addressed during the continuation of the reform process under the World Trade Organization, scheduled to be initiated in 1999.