Following up on the 2011 evaluation of 4 MoFA programs, this activity will use Ghana’s National Buffer Stock Company as a case study for an analysis of commodity buffer stocks that will develop an applied dynamic stochastic model to assess buffer stock schemes designed to manage food security risk in developing countries. The model will be used to evaluate the costs and benefits of holding strategic stores of food grains and the potential impacts of such schemes on the rate of transformation of the Ghanaian agricultural economy. The study will also examine programs that might complement a commodity buffer stock food security scheme, such as the use financial reserves and international reinsurance to provide the emergency funding in response to major catastrophic droughts, floods, and international price changes.