IFPRI Launches Unique New Tool That Provides Early Warning of Extreme Price Variability

The International Food Policy Research Institute (IFPRI) launched the Excessive Food Price Variability Early Warning System on July 6, 2011. This new tool measures excessive food price variability and is the only mechanism currently available to identify time spans of increased price variability. It is updated daily and forewarns policymakers and humanitarian agencies of periods of time with excessive food price variability. According to their press release, “By providing an early warning system to alert the world of price abnormalities for key commodities in the global agricultural markets, policymakers and other stakeholders can make better informed plans and decisions, including whether or when to release stocks from emergency grain reserves. Timely, accurate, and transparent market information is important for addressing food price volatility and achieving the ultimate goal of improving food security, especially among poor people in developing countries.”