For decades, despite widespread hunger and severe malnutrition in developing countries there was little attention to agricultural development and food security, and global funding for it was declining. High and volatile food prices have caused a dramatic turnaround in public and political...

Dramatic food price spikes in recent years have stimulated debate on the welfare implications of food price risk. According to the Food and Agriculture Organization of the United Nations, the number of undernourished people in sub-Saharan Africa rose to a record 265 million in 2009. There is a...