The G20 will coordinate the response to soaring food prices
Group of 20 will take action to try to coordinate the national response to soaring food prices. Prior to that, as the world’s largest exporter of agricultural products of the United States suffered the worst drought in half a century, resulting in food production is declining dramatically.
G20 to discuss with senior officials in charge of agricultural affairs in the United Nations (UN) is to convene a new emergency meeting of the Forum, the corn price has now risen to a record high, exceeding the level during the 2007-08 food crisis.
Last Friday, the U.S. government, the corn-growing areas, farmers in the country due to drought forced to give up area exceeding the area of Belgium and Luxembourg. The remarks have further deepened the fears of the market for corn prices. U.S. Department of Agriculture (USDA) sharp decline in corn production is expected, and predicted that next year, corn prices will continue to record high. At the same time, corn futures prices rose 3.1 percent, to $ 8.4375 a bushel, the highest level, but then fell back.
On Monday, U.S. President Barack Obama (Barack Obama) will go to Iowa, corn-growing areas, a three-day search. The occasion of the upcoming presidential election, he will be added to a food as food or as a higher value biofuels fierce debate.
G20 officials plan to hold a conference call this week in the August 27 discussion held in the above-mentioned talks. Officials according to four of the talks, said the talks will be held in late September to early October.
The officials stressed that the planned meeting is not a panic signal. On the contrary, officials said the meeting is taken to prevent the export restrictions and hoarding policy efforts from 2007 to 2008 the situation of insufficient supply of agricultural products such policies evolved into the first time in 30 years, global food crisis, leading to 12 countries riots.
The planned meeting will be the first meeting of the rapid response forum (Rapid Response Forum), this newly established organization aims to “promote decision-making officials to unusual circumstances in the international market as soon as possible to discuss. The forum is part of the G20 to support agricultural market information system (Agricultural Market Information System), the system was established last year under the French proposal, is seen as a key response to the 2007-08 food crisis. One official said that the light of the deterioration of food production, the G20 member states “to support the holding of the meeting.
The United Nations is likely to use the machine of this meeting called for the international discussion on biofuels policy, especially the United States, Europe and other countries to repeal the biofuels production targets specified by the Government.
However, there are several factors for policy makers is a comfort. One is the level of the price of rice remained stable as a key agricultural products in Asia; other local African staple crops of cassava yield significant growth over the past five years.
Processing your request, Please wait....
