Sovereign Self-Sufficiency

Sovereign Food Security and food self sufficiency

Many critics of the economic sovereignty argue of why build X ourselves if we can just buy X somewhere else, at cheaper prices. Then shortages happen,
and every country producing X hoards it and prices rise. Lately we have seen it with COVID; masks, ventilators and vaccines were hoarded by most countries, exports were blocked, some countries even blocked and confiscated transiting goods going to neighbours.

With basic food items the same is happening, albeit for different reasons. In the article below a set of circumstances converged, so that prices are rising and there will be some shortages.

For many emerging economies an additional reason for self sufficiency is that of national security. The Arab Spring protest, which led to changes of government in several Middle East countries happened because of sharp food prices rises, and the population blamed to local governments.

The Sovereign Economic Model advocates the self sufficiency of basic food types, both from an economic perspective, as it drives import substitution, industrialization and partially exports, but also for national security.

But countries which have a plan for food security and self-sufficiency will fare much better. In good times, they may forego extra profits, but in bad times they will definitely weather the crisis much better. It is stability versus profits.

A few article about Food Security and self sufficiency below:

Recent article about food crisis, price rises and possible shortages
Food security vs Self Sufficiency