What has been done? Since 2004, Mali has used four instruments to periodically stabilize domestic cereal prices (millet, sorghum, maize and rice): (i) a ban on exports (2007 and 2008), (ii) a recovery plan to boost production through input subsidies (for rice in 2008; for rice, maize and wheat in 2009), (iii) public stocks (especially since 2005, when two new types of stocks were set up (the State Intervention Stock and cereal banks), and (iv) tax exemptions on cereal imports (for rice and maize in 2005, 2007, 2008 and 2009 and for maize only in 2005). The outreach of these government interventions as well as their modalities have varied considerably, depending on the instrument, the year and products targeted. How has it been implemented? The decision-making process is complex. The different instruments are often managed by different agencies (e.g., the Ministry of Commerce for export bans and tax exemptions on imports; the Ministry of Agriculture for recovery plans; the cereal bank management committee for decentralized stocks, located in 703 of the country's municipalities). Decisions are made by the President and the office of the Prime Minister, with support from the Food Security Commission. The effective implementation of policies has sometimes proved difficult. Export bans have been circumvented. Importers have not always benefited from tax exemptions. The subsidized inputs for producers often arrive late, and in insufficient quantities (particularly for seeds). Finally, purchases for certain public stocks at times came too late (especially for the State Intervention Stock, which lacks working capital to make timely purchases). What were the effects? The ban on exports has not managed to discourage cereal exports. Not enough, at least, to affect prices in Mali. The bans have not had the expected moderating effect on consumer prices, but nor have they penalized producers-or only very marginally. Policies to boost production have had a moderate impact on produ