A game theoretic model of the political economy of agricultural and food price policies in Senegal is proposed. A cooperative bargaining game is used to describe and estimate the relative bargaining strength of three representative players: the fanners producing groundnuts and millet and consuming fertilizer; urban dwellers consuming imported rice and wheat; and a small set of governmental institutions intervening in these markets. Farmers are shown to have about twice as much bargaining power as urban consumers or the governmental agencies involved in the game. The bargaining power structure is influenced by changes in exogenous variables such as the world price of commodities, exchange rate and population. The bargaining power of farmers is positively influenced by increases in the world price of rice and groundnuts; urban consumers' strength is weakened by the same exogenous changes. The opposite results are obtained for increases in the foreign exchange rate and population.