Food security and the role of food storage
© 2016 by Emerald Group Publishing Limited All rights reserved. Purpose - We discuss food security within the context of welfare economics. We review models of commodity price stabilization brought about by government storage, and/or the private sector. We use data on the stocks of major commodities to discuss the implications of storage models on food security. Methodology/approach - The impact of storage on food security is discussed within the context of welfare economics. Findings - Storage is not necessarily a solution to solving long-term world food problems. Also, at times in history, countries such as the United States have accumulated large stocks of commodities such as wheat, which turned out to be a costly policy. Social implications - While food insecurity is a major issue worldwide, the solution does not entirely lie in governments being heavily involved in managing and owning food stocks. The private sector manages stocks as a part of commercial transactions. The government's role is to provide food from stockholdings in times of emergency situations.
Publication Source (Journal or Book title)
Frontiers of Economics and Globalization
Schmitz, A., & Kennedy, P. (2016). Food security and the role of food storage. Frontiers of Economics and Globalization, 1-17. https://doi.org/10.1108/S1574-871520150000016001