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The Economic Effects of Public Stockholding Policies for Rice in Asia

image of The Economic Effects of Public Stockholding Policies for Rice in Asia

This report examines how public stockholding policies related to rice in Asia can influence domestic and international markets. Following a review of the working of rice public stockholding programmes in eight Asian countries (Bangladesh, China, India, Indonesia, Japan, Korea, the Philippines and Thailand), the report examines the impacts of these programmes over the medium term (2018-2030) and analyses how these impacts would change should the selected countries collectively set their public stocks to either a low or high level. Results show that the strongest impacts would occur during the three-year transition period when countries adjust their public stocks to the new levels, but that there would also be structural impacts over the medium term, although at a lower intensity, on procurement, domestic and international prices, availability, private stock levels, and public expenditure. In the event of a global production shock, the model projects that the immediate impact on prices and availability would be less severe under the high public stock scenario, but that recovery would be faster and public expenditure lower when countries hold smaller public stocks.

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The functioning of public stockholding policies

This chapter begins with a brief explanation of the different ways public stockholding policies can affect domestic and international markets, and the structure of the overall report. It then describes the functioning of public stockholding programmes for rice in eight Asian countries. It identifies for each country the agencies in charge of public stocks, the main purposes for keeping public stocks, the trade restrictions in place, how rice is procured and released from public stocks, and the associated prices. It also develops a framework that generalises the process of acquisition and release by identifying three distinct ways in which countries can procure rice for public stocks, and three distinct ways in which they can release rice from public stocks.

English

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