Food security -- an insurance approach.

An adequate standard of nutrition at national and individual level is a basic -- and not wholly altruistic -- objective for mankind. Its ingredients are food production and distribution. Of these the latter is currently considered the more limiting, but fluctuations in the former -- over various geographical and time scales -- can be the overriding factor when national supplies are critical. Under these conditions the automatic operations of a legal mandatory food support system -- free from political strings or connotations of welfare -- would be advantageous. A system for providing a measure of food security, using insurance principles and based on a compromise between international stockpiling and direct financial subventions, is outlined in a recent publication of the International Food Policy Research Institute. Essentially it is a means by which the international community could contribute to the food security of food deficit, developing countries without having to create large buffer stocks and stabilize world grain prices. Extracts from this publication are given below.