Description: South Asia Economic Focus, June 2011 : Food Inflation

South Asia Economic Focus, June 2011 : Food Inflation

This report focuses on the impact of policies and exogenous shocks on food inflation. It deals with four elements: 1) the pass-through of global food (and other commodity) prices, 2) macroeconomic policies, 3) market regulation and short-term suppl...

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Bibliographic Details
Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCESS TO MARKETS ADJUSTMENT MECHANISM ADVANCED COUNTRIES AGGREGATE DEMAND AGRICULTURAL ACTIVITIES AGRICULTURAL GROWTH AGRICULTURAL OUTPUT AGRICULTURAL POLICIES AGRICULTURAL PRODUCTION AGRICULTURE AUDITS BENCHMARK BENCHMARK INTEREST RATE BEVERAGES BINDING CONSTRAINT BIOMETRIC SYSTEMS BROAD MONEY CENTRAL BANK CEREAL PRICE CEREAL PRICES CEREAL PRODUCTION CEREALS CLIENT COUNTRIES COMMODITIES COMMODITY COMMODITY FUTURES COMMODITY MARKETS COMMODITY PRICE COMMODITY PRICE BOOM COMMODITY PRICES CONSUMER BASKETS CONSUMER PRICE CONSUMER PRICE INDEX CONSUMER PRICE INFLATION CONSUMER PRICES CONSUMERS CONSUMPTION GROWTH CONTAINERS CONTROLLED PRICES CORE INFLATION CURRENCY DAIRY DEBT DEMAND FOR FOOD DEMAND MANAGEMENT DEPRECIATION DEVELOPING COUNTRIES DIRECT MARKETING DOMESTIC MARKET DOMESTIC PRICES DRUG INDUSTRY ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC RENTS ECONOMIC SLOWDOWNS EDIBLE OILS EGG EGGS EMERGING MARKET EMERGING MARKET ECONOMIES EMERGING-MARKET ENERGY PRICES EXCHANGE MARKET EXCHANGE RATE EXHIBITIONS EXOGENOUS SHOCKS EXPENDITURE EXPENDITURES EXPORTS EXPOSURE EXPOSURE TO RISKS EXTERNAL TRADE FARMERS MARKETS FATS FINANCIAL CRISIS FISCAL BALANCE FISCAL BALANCES FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL DEFICITS FISCAL POLICIES FOOD AVAILABILITY FOOD CROPS FOOD DEMAND FOOD GRAINS FOOD HANDLING FOOD IMPORTS FOOD INSECURITY FOOD MARKETS FOOD POLICIES FOOD POLICY FOOD POLICY RESEARCH FOOD PRICE FOOD PRICE INFLATION FOOD PRICES FOOD PRODUCERS FOOD PRODUCTION FOOD PRODUCTS FOOD RATIONING FOOD SECURITY FOOD STOCKS FOOD SUBSIDIES FOOD SUPPLY FRUIT FRUITS FUTURES GDP GLOBAL MARKETS GOVERNMENT BUDGETS GOVERNMENT DEBT GOVERNMENT INTERVENTION GOVERNMENT INVOLVEMENT GRAINS GROWTH RATE GROWTH RATES HIGH INFLATION HONEY IFPRI IMBALANCES INCOME GROWTH INCOMES INDUSTRIAL WORKERS INFLATION EPISODE INFLATION EXPECTATIONS INFLATION RATE INFLATION RATES INTEREST RATES INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INTERNATIONAL PRICES INTERNATIONAL TRADE ITC LABOR MARKETS LAW ENFORCEMENT LIBERALIZATION LIQUIDITY M1 M3 MACROECONOMIC POLICIES MACROECONOMIC POLICY MACROECONOMIC STABILITY MAIZE MARKET CONDITIONS MARKET ECONOMIES MARKET INFRASTRUCTURE MARKET PRICES MARKET REGULATION MARKET RISKS MEAL MEAT MONETARY AGGREGATES MONETARY CONDITIONS MONETARY POLICY MONEY SUPPLY MORTGAGE NATIONAL INCOME OIL PRICE OIL PRICES OPEN ECONOMIES OPEN MARKET OPERATIONS OUTPUT GAPS PALM OIL PERISHABLE GOODS POLITICAL CONSIDERATIONS POTENTIAL OUTPUT PRICE ADJUSTMENT PRICE CAPS PRICE CHANGE PRICE DISTORTIONS PRICE FLUCTUATION PRICE HIKE PRICE HIKES PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE TRENDS PRICE VOLATILITY PRIVATE INVESTMENT PRIVATE MARKETS PRIVATE SECTOR INVESTMENT PRODUCE MARKETS PRODUCTION INCREASES PRODUCTIVITY PRODUCTIVITY GROWTH PROTEIN PUBLIC DEBT PUBLIC SPENDING PUBLIC-PRIVATE PARTNERSHIPS PULSES PURCHASING PURCHASING POWER RAPID GROWTH REAL INTEREST RATE RED TAPE REGISTRATION REQUIREMENTS REMITTANCES REMOTE REGIONS RESERVE BANK RESERVE REQUIREMENT RETAIL RETAIL PRICE RETAIL PRICES RICE RICE MARKETING RISK MANAGEMENT RURAL INFRASTRUCTURE SAFETY NET SAFETY NETS SALE SALES SHORT-TERM VOLATILITY SIDE EFFECTS SMALL ENTERPRISES SOCIAL PROTECTION SOYBEAN SOYBEANS SPICES SPREAD STAPLE FOODS STATE BANK STOCK MANAGEMENT STORAGE CAPACITY SUBSIDIZATION SUBSTITUTES SUBSTITUTION SUGAR SUPPLY CHAIN SUPPLY RESPONSE SUPPLY SHOCKS SUPPLY SIDE SURPLUS TAX TOTAL FACTOR PRODUCTIVITY TRADE AGREEMENT TRADE POLICY TRADE RELATIONS TRADING PARTNER TRANSPARENCY TUBERS VEGETABLES VITAMINS WAGE RATES WAGES WHEAT WHOLESALE MARKETS
Online Access:	http://documents.worldbank.org/curated/en/2011/06/16473126/south-asia-economic-focus-review-economic-developments-south-asian-countries http://hdl.handle.net/10986/12662

Description
Summary:	This report focuses on the impact of policies and exogenous shocks on food inflation. It deals with four elements: 1) the pass-through of global food (and other commodity) prices, 2) macroeconomic policies, 3) market regulation and short-term supply shocks, and 4) long-term structural shifts and the terms of trade between agriculture and other sectors of the economy. This report examines food and overall inflation trends in South Asia, which is experiencing relatively high inflation, and is home to a large number of poor. There are many more poor people who are net buyers of food than there are those who benefit from higher prices of agricultural products even in the predominantly rural countries of South Asia. The report examines both short-term and longer-term drivers of rising food prices in the region, including developments in international commodity prices, domestic supply shocks, accommodative demand side policies, structural changes in demand patterns, and long-term agricultural productivity trends. The impact on poverty is examined, as is the region's preparedness for food price shocks. The priorities laid out in the Bank's post-crisis directions paper (2010) and the mandates given to the Bank by the G20 are to focus on food price volatility, agriculture and food security, and agricultural productivity. In line with these priorities, the report ends with some policy directions to manage the macroeconomic impact of food price inflation, and the potential spillover into generalized inflation, to manage the social impact of the food price hikes, and to hedge against risks associated with food price volatility. The report is organized as follows: section two discusses the anatomy and short- and longer-run drivers of food and overall inflation in South Asia. Section three discusses the impact of government policies affecting agricultural marketing, inputs and trade in South Asian countries. Section four presents an assessment of the impact of food price increases on poverty and an assessment of the preparedness of South Asian countries social protection schemes to cope with this impact. Section five concludes with some policy directions that could be pursued by South Asia to improve agricultural productivity and mitigate the impact of food price volatility on its population.

South Asia Economic Focus, June 2011 : Food Inflation

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