Managing Food Security in Unregulated Markets

The major grain producing nations are moving toward the reduction of domestic and export subsidies to agriculture. The grain importing nations are reducing import barriers. As world markets evolve, grain will tend to be produced in areas that have a comparative advantage in grain production. Over time, production will shift to least-cost areas. Moving toward market orientation during the 1980's, the United States sharply modified its grain policy so that nonrecourse loans are no longer used...