Abstract
The increasing demand for biomass for energy use is further escalating existing food security risks. Managing these risks is a task for global institutions. These should ensure timely investment in the world’s capacity for producing biomass and balance the use of this biomass for foods and for non-foods. To achieve this, institutional arrangements for global food markets must fulfil two important goals: reduce the short-term price instability of food markets and prevent a structural scarcity of food in the long term. This paper analyses how agro-food markets, energy markets and biofuel markets are currently regulated. As this regulation is ill-suited to manage food price instabilities and balance food and non-food use of biomass, new institutions need to be put in place. A coordinated system of global commodity management — not unlike the Commodity Control Organization proposed by Keynes for the post-WWII era — is proposed to deal with these coming challenges.
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