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The Food Crisis in Latin America and the Caribbean

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Understanding the food price crisis and its impact in the Region+ More

Rising Food Prices - Region's Position Paper

Slideshow  about Food Crisis in the Region


How is this crisis affecting the region?
+Rising food prices are a growing policy challenge for both middle-income and low-income countries in the region.
+While the region as a whole is a net food exporter, food price inflation still has a detrimental impact on the income, nutrition, and health of poor consumers.

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Can the poor cope?
Understanding the impact of food price inflation on the poor requires an examination of the situation and response of households. Even poor households may have risk mitigation strategies—for example, relying on multiple sources of income that permit labor supply to be rapidly increased. Substitution effects and risk mitigation strategies not only determine the pass-through from international to local prices but also shape public policy intervention impacts. For example, explicit subsidies may affect factor allocations and therefore real wages and supply responses.

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What can be done to help?

Food policy interventions fall into two main categories: coping and curing. Coping strategies are focused on the household but have broader implications and can be a rapid response option. Curing strategies focus on supply response and are typically an option for the medium to long term. Some options from both categories are better than others.

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Highlights

$1.2 Billion Funding Program: New rapid financing facility includes $200 million in grants for the most vulnerable

Honduras: World Bank Approves US$10 Million to Support the Government in Addressing the Food Crisis

Haiti: World Bank Approves US$10 Million Grant to Help the Government to Respond to the Food Price Crisis

Additional Resources
Food Price Inflation and its Effects on Latin America and the Caribbean

Global Response to the Food Price Crisis: News, Multimedia & Reports

Funds Target Countries Hit Hardest by Food Crisis

LAC Rapid Response

Policy Options and World Bank Response
Implications of higher global food prices for poverty in developing countries by Maros Ivanic and Will Martin.

What the World Bank can do to help

Country Policies: Policies and Programs to Address Rising Food Prices