World food prices are now even higher than their peak just before the global crisis. During periods of high commodity prices, North African and Middle Eastern governments have a long tradition of subsidising food and fuel products. But this column shows that food price inflation and consequently subsidies were also high during periods when global commodity prices were falling. Now these countries have an opportunity to correct this.

The recent rise in the price of wheat has brought the issue of food security back to public attention. This column discusses how policymakers can avoid the temptation to place restrictions on exports and imports that exacerbate price spikes.

Food riots, starvation, malnutrition, and supply-driven inflation – the global food crisis is upon us. Here one of the world’s leading development economists discusses short-, medium-, and long-run solutions.