Food security and the role of food storage

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© 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.

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Frontiers of Economics and Globalization

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