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Building a Buffer Against Food-Price Shocks

Although food inflation has fallen globally from the 2022 peak, it has remained high or continued to rise in many lower-income countries. As G20 presidents this year and next, Brazil and South Africa should develop strategies for regulating commodity markets while also leading efforts to build regional buffer stocks of staples.

BOSTON – Of the 17 Sustainable Development Goals to be achieved by 2030, eliminating hunger used to be seen as the most feasible. But in the wake of the COVID-19 pandemic and Russia’s invasion of Ukraine, 15 years of progress on improving access to food have been lost. Despite global agricultural production being more than sufficient to meet the world’s nutritional needs, food insecurity is significant and rising everywhere, even in rich countries. Especially worrying are the significant increases in hunger in lower-income countries.

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