Sophia Murphy - Senior adviser to the Institute for Agriculture and Trade Policy, Trade and Global Governance team, 55404, 2105, First Av. South, Minneapolis, Minnesota, USA; E-mail: sophia.iatp@gmail.com

Abstract

The presented publication is a translation of the article published in the Stanley Foundation Policy Analysis Brief in March 2013. The translation was made with the permission of the author.

The article presents the review of the G20 participation in solving food security problems within a context of measures, taken after the 2007-2008 crisis, that led to dramatic food price spikes in the international food market.

In the author’s opinion the G20 can play a positive role in ensuring food security through: reforming inefficient food policies in some countries; increasing transparency and predictability of grain reserves; regulation of export restrictions and cooperation with developing importing countries to reestablish their confidence in the global trade system; improving regulation in speculation and increasing transparency on commodity-futures markets; reducing emissions and developing the eco-friendly agricultural sector.The unique leverage of the G20 is its ability to spur reforms that can have positive externalities for international markets and all the countries that depend on them.

The article includes recommendations to the G20. Applying market mechanisms and policy measures related to the distribution of food is critically important because they determine who will have access to the food that is grown.

The G20 is able to improve international markets stability and their sensitivity to importing countries’ needs, reduce negative effects of external factors through tighter coordination of national policies.