Sit down at the ball game: How trade barriers make the world less food secure

► We analyse impacts of rising wheat prices and trade policy using GTAP. ► Effects focus on producer, consumer, terms-of-trade and trade tax revenue effects. ► Major net exporters may benefit from export taxes for food security purposes. ► Net importers are likely to lose out and have little room to reduce tariffs. ► Liberalisation lowers prices, boosts food security, but makes the poor vulnerable.