Rice Trade and Price Volatility: Implications on ASEAN and Global Food Security
Clarete, Ramon L.; Adriano, Lourdes; Esteban, Amelia | September 2013
Abstract
This paper highlights the thinness of rice trade relative to wheat and maize, and
the contrasting price volatility and tradability relations for wheat and maize, which
display a positive correlation, and for rice, which show an inverse relation. The
paper focuses on Southeast Asia, which hosts the world’s biggest rice exporters
and rice importers. Using the Granger causality tests to determine correlation,
the analysis concludes that very low global trading activity in rice that tends to
self-perpetuate its dampening effect on trade does not cause extreme rice price
volatility in the region, but the other way around. Rice-importing countries appear
to resort to self-sufficiency measures as insurance to compensate for the high
risks of unreliable rice supply and unaffordable rice prices. What would it take for
countries to regain their confidence in external rice trade? The Association of
Southeast Asian Nations Integrated Food Security Program provides a menu of
policies for reducing and managing the chances of excessive rice price volatility.
Citation
Clarete, Ramon L.; Adriano, Lourdes; Esteban, Amelia. 2013. Rice Trade and Price Volatility: Implications on ASEAN and Global Food Security. © Asian Development Bank. http://hdl.handle.net/11540/2299. License: CC BY 3.0 IGO.ISSN
1655-5252
Keywords
Commercial agriculture
Agriculture
Sustainable agriculture
Trade Volume
Agricultural Trade
Food Security And Trade
Regional Trade Agreements
Agroindustry
Agricultural trade
Commercial farming
Agroindustry
Sustainable development
Export volume
Export Development
Access to markets
Agricultural market
Agricultural economy
Distribution
Agricultural diversification
Agricultural resource
Farm produce
Land capability for agriculture
Food Supply
Rural land use
Technological innovations
Agricultural innovations
Farm supply industry
Natural resource
Adaptive natural resource management
Produce trade
Poor
Price Indexes
Intergrated rural development
Cost and standard of living
Population
Crop improvement
Rice farming
Crop
Food industry
Perishable goods
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Citable URI
http://hdl.handle.net/11540/2299Metadata
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