High food prices in Asia-Pacific: policy initiatives in view of supply uncertainty and price volatility

High food prices have put increasing inflationary pressures across the Asia-Pacific region and threatened food security. Bad weather in important food-producing countries and speculation in commodity markets have affected global food supplies and added volatility to booming commodity markets that have been fueled in the long-term by increasing global demand. High food prices have threatened to slowdown economic growth, poverty reduction and inclusive sustainable development throughout the region. Countries of the region have taken various measures to address the risk of adverse effects caused by high international food prices. This paper outlines policy responses and interventions that governments in the region can make to counter the adverse impact of food inflation.