In the event of large swings in world food prices, countries often intervene to dampen the impact of international food … intervention of many countries may exacerbate the volatility of world prices. Insulating policies introduced during the 2010 …-11 food price spike may have accounted for 40 percent of the increase in the world price of wheat and one-quarter of the …

For individual countries, variable trade barriers can be used to reduce the volatility of domestic relative to world … prices. If this is done by countries accounting for a large share of the market, its effect is offset by increases in world … classifying themselves at the World Trade Organization as developing account for only 3 percent of world rice consumption. But it …