A new study has challenged the effectiveness of Malawi’s long-standing efforts to stabilise maize prices, arguing that strategic grain reserves, export bans and minimum farmgate prices cannot, on their own, shield consumers and farmers from volatile food markets. The paper, Strategic Grain Reserves and Maize Price Stabilisation in Malawi: What Policies are Feasible?, authored by Jan Duchoslav and Nicholas Minot of the International Food Policy Research Institute (Ifpri), says the country’s Strategic Grain Reserve (SGR) should be retained, but its role must be aligned with operational realities. | NationThe authors write: “The paper argues that Malawi should retain its strategic grain reserve but calibrate its price-stabilisation mandate to what is operationally feasible, while preserving the reserve’s emergency and safety-net functions.” The report says while grain reserves can cushion extreme seasonal price swings, their effectiveness is constrained by financing shortages, storage limitations, delays in grain procurement and release, as well as cross-border trade. While agreeing that cross-border trade contributes to price instability, Nyondo said he did not believe storage constraints were a major obstacle.