Climate Change and Price Volatility: Can We Count on the ASEAN Plus Three Emergency Rice Reserve?

  Available online: https://www.adb.org/publications/climate-change-and-price-volatility-can-we-coun [...]

On 12 July 2012, the Association of Southeast Asian Nations (ASEAN) Plus Three intergovernmental agreement establishing the ASEAN Plus Three Emergency Rice Reserve (APTERR) entered into force. In this paper, lead author Roehlano Briones, a senior research fellow at the Philippine Institute for Development Studies, assesses the effectiveness of APTERR as a mechanism for addressing food security in light of the rising challenges of climate change and price volatility. Using Riceflow, a model of the global rice economy, he studies the possible impacts of APTERR releases on the rice market by simulating calamity scenarios for the largest rice producer in the world (the People’s Republic of China) and in the ASEAN region (Indonesia). He posits that APTERR would need to increase its regional reserves to offset the impacts of severe natural disasters. He takes up as well other market-based options that can complement APTERR as a calamity response mechanism.

Language(s): English

Tags: Climate ; Climate change ; Agroclimatology ; Extreme weather event ; Food Safety ; Brunei Darussalam ; Cambodia ; China ; Indonesia ; Japan ; Republic of Korea ; Lao People’s Democratic Republic ; Malaysia ; Philippines ; Singapore ; Thailand ; Viet Nam Add tag