Following the UN approach, the concept of food security is formed by four elements: (i) the sufficiency of supply; (ii) the stability of supply; (iii) food safety; and (iv) the affordability of food.

Nowadays, the concept is mostly identified only in terms of the sufficiency of supply, leaving the other three elements to the side or even in opposition. However, omitting these other three dimensions deprives the concept of perhaps its biggest advantage: the potential to provide a common denominator to developing different approaches on the future role of the CAP for both Europe and the rest of the world. Apart from emphasising the need for an expansion of production, the concept equally supports environmental (stability), health (safety) and social arguments (affordability).

Due to recent food, energy and financial turmoil, food affordability proves the most difficult goal to meet. The two challenges in this regard are: (i) the fluctuation of prices and (ii) the gap between production costs and sale price.

For millions of people in developing countries an increase in food prices, especially a rapid increase, causes hunger or malnutrition. At the same time, the inability of small producers to cover their production costs renders food less affordable for them as well. European consumers cope relatively well with higher prices. Yet, the mismatch between production cost and sale price is also an issue for European producers.

These two problems are not yet well tackled by European policy as they form a complex challenge which goes beyond the CAP. They are problems that need to also be dealt with by other European policies (trade, competition, and finance) and by international agreements or partnerships. Yet the CAP can gain coherence, as much for Europe itself than as for poor countries, by strengthening measures equally supporting the other three food security dimensions.