Bangladesh’s Response to the 2007–08 Food Price Crisis: Social Protection and Macro Policy

In 2007–08 global food prices spiked dramatically, sending international rice and wheat prices sharply higher. Bangladesh – a densely populated, rice-dependent country – was highly exposed. This paper reviews Bangladesh’s response, which combined market interventions (imports, price subsidies, procurement and reserves) with expanded social safety nets (food transfers, subsidized sales, and workfare programs). It assesses outcomes and institutional challenges, and draws forward-looking lessons. Key findings are that rapid policy actions (doubling public rice stocks, distributing 500,000 tons through subsidized sales, launching a 100-day public works scheme, etc.) helped cushion the poor, but shortcomings in targeting, governance, and coverage limited impact. The experience suggests that proactive, well-funded social protection systems fully integrated with macro policy are essential for future crises.