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Higher food prices and policy responses
Policy responses to higher food prices included tariff reductions, export restrictions, increased minimum prices and price controls, input subsidies, sales of stocks and direct transfers to the most disadvantaged.
Other major policy developments included: expanded government-supported credit facilities and/or debt rescheduling, increased import subsidies, endeavours to improve the delivery and performance of agricultural policies, extended coverage of insurance programmes and further efforts in land reform.
For the period 2005-07, estimates of government support to producers as a percent of gross farm receipts ranged from 4% for Chile to 14% for Russia, much less than the OECD average of 26%.
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