The issue of food price volatility is back on the political agenda of the G20 and the Committee on World Food Security. The time has come to reassess the potential of food reserves in the context of more integrated but also more volatile agricultural markets. On the basis of good practices, it is recommended to experiment with innovative and complementary instruments that can improve the efficacy of food reserves, while at the same time addressing market failures and providing benefits and incentives to small-scale farmers.