The approach taken in this reportreflects the view of the collaborating internationalorganizations that price volatility and its effects on foodsecurity is a complex issue with many dimensions,agricultural and non-agricultural, short and long-term, withhighly differentiated impacts on consumers and producers indeveloped and developing countries. The report begins with adiscussion of volatility and of the ways in which volatilityaffects countries, businesses, consumers and farmers.Lessons learned from recent experiences are briefly reviewedas well as the factors determining likely levels ofvolatility in future. This report offers suggestions for asystematic and internationally coordinated response buildingon the lessons learned as a result of the 2007-2008crisis.It is important to distinguish between policy optionsdesigned to prevent or reduce price volatility and thosedesigned to mitigate its consequences. Both types ofintervention are explored in detail. Scope is identified foractions at individual, national, regional and internationallevel. Some would help to avert a threat; others are in thenature of contingency plans to improve readiness, whilestill others address long-term issues of resilience.Finally, the report explores mechanisms of internationalcooperation to implement this report's recommendationsand to monitor progress.
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