South Asia is home to the largest concentration of poor and undernourished people in the world, so food security—especially in basic staples such as wheat, rice, and corn—continues to be a major concern. With both persistent and re-emerging food price inflation reaching new heights in 2007–08 in global markets, South Asia saw sharp inflation—between 50 and 100 percent—in basic staples in Bangladesh, Pakistan, and Sri Lanka. These drastic price spikes drew comprehensive policy responses from the governments of these countries, addressing both supply and demand for foodgrains.

Liberalizing foodgrains markets

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