Trust In Markets Essential To Creating More Food-Secure World

“Far too often we are seeing national governments overreact [to market fluctuations] to the extent that they are making pledges about and taking measures toward food self-sufficiency,” Emery Koenig, executive vice president and chief risk officer of Cargill, writes in the Chicago Council on Global Affairs’ “Global Food For Thought” blog. “There seems to be a growing, misguided belief that self-sufficiency will somehow lead to food security. The result is actually the opposite,” he states. Instead, trust in markets “is paramount to creating a more food-secure world; one in which everyone has access to sufficient amounts of safe, affordable and nutritious food,” he writes, adding, “To achieve global food security, governments must trust the markets, and businesses must earn that trust.” Koenig concludes, “Free trade and open markets aren’t the only keys, but they are a critical ingredient to creating a more food-secure world” (2/7).