A mechanism is provided for efficient communication of producer/consumer buffer status. With the mechanism, devices in a data processing system notify each other of updates to head and tail pointers of a shared buffer region when the devices perform operations on the shared buffer region using signal notification channels of the devices. Thus, when a producer device that produces data to the shared buffer region writes data to the shared buffer region, an update to the head pointer is written to a signal notification channel of a consumer device. When a consumer device reads data from the shared buffer region, the consumer device writes a tail pointer update to a signal notification channel of the producer device. In addition, channels may operate in a blocking mode so that the corresponding device is kept in a low power state until an update is received over the channel.