The years 2006-08 were marked by a significant increase in world prices for most, but not all, agricultural commodities. This report analyses policy developments during this period in seven emerging economies: Brazil, Chile, China, India, Russia, South Africa and Ukraine.
Higher food prices and policy responses
Policy responses to higher food prices included tariff reductions, export restrictions, increased minimum prices and price controls, input subsidies, sales of stocks and direct transfers to the most disadvantaged.
Other major policy developments included: expanded government-supported credit facilities and/or debt rescheduling, increased import subsidies, endeavours to improve the delivery and performance of agricultural policies, extended coverage of insurance programmes and further efforts in land reform.
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