Managing Drought Risk for Food Security in Africa : An Innovative Solution in Malawi
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World Bank, Washington, DC
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Malawi periodically experiences drought
leading to shortages of grain on the domestic market and a
sharp increase in consumer prices. Consumers, including many
of the poorest farmers in the country, experience difficulty
obtaining enough grain to meet their family requirements.
One method to reduce the risks of grain shortfalls is to
improve the capacity of farmers to produce enough grain even
when drought occurs, for example, through input subsidies
and efforts to improve water use efficiency. An additional
measure is to finance the establishment and distribution of
strategic grain stocks. However, in the occasional year when
drought is most extreme, supplementary assistance will still
be needed in the form of expensive food imports and,
possibly, food aid.
Palabras clave
ADVERSE EFFECTS, AGRICULTURAL PRODUCTION, CALL OPTION, CAPACITY BUILDING, CATASTROPHIC EVENT, COMMODITY, COMMODITY PRICE, COMMODITY RISK MANAGEMENT, CONSUMER, CONSUMERS, CONTINGENCY, CONTINGENCY PLANNING, DERIVATIVE CONTRACT, DEVELOPING COUNTRIES, DOMESTIC MARKET, DONOR COORDINATION, DROUGHT, EARLY WARNING, EARLY WARNING SYSTEMS, EXPENDITURE, FARMERS, FINANCIAL LOSS, FINANCIAL MARKETS, FINANCIAL RISK, FOOD AID, FOOD SECURITY, HUMANITARIAN EMERGENCY, INSTRUMENT, INSURANCE, INTERNATIONAL DEVELOPMENT, INVESTING, INVESTMENT PROGRAM, LOW-INCOME, MACROECONOMIC INSTABILITY, MARKET PLAYERS, NATURAL DISASTERS, NEGOTIATIONS, OPPORTUNITY COSTS, PORTFOLIO, PREMIUM PAYMENT, PRICE RISK, PRICE RISK MANAGEMENT, PRICE VOLATILITY, PUBLIC EXPENDITURE, PUT OPTION, REINSURANCE, RISK MANAGEMENT, RISK MANAGEMENT TOOLS, RISK MARKETS, SAFETY, SAFETY NET, SAVINGS, SENIOR, STAKEHOLDERS, START-UP COSTS, STOCKS, SYSTEMIC RISK, TRANSACTION, TREASURY, VALUABLE, WATER USE, WEATHER DERIVATIVE, WEATHER EVENTS