ID :
159770
Wed, 02/09/2011 - 16:58
Auther :
Shortlink :
https://www.oananews.org//node/159770
The shortlink copeid
G-20 eyes 1st farm ministerial in June on food price surge
TOKYO, Feb. 9 Kyodo - Farm ministers from the Group of 20 developed and emerging economies plan to meet in Paris possibly in June to address surging food prices, in their first ever gathering under G-20 auspices, Japanese government sources said Wednesday.
The main issues to be discussed will be steps to stem price increases and setting up a mechanism aimed at monitoring speculative moves, the sources said.
Increasing demand for foods in emerging economies and the influx of speculative money have apparently driven up commodity prices internationally, prompting an increase in retail prices for coffee and oil in Japan and other countries.
Growing popular discontent over food price increases has also been cited as a factor behind the recent uprisings in Tunisia and Egypt, raising concerns among leaders in some countries.
The idea of a G-20 farm ministers' meeting came from French President Nicolas Sarkozy, whose country will host this year's G-20 summit meeting, according to the sources.
Finance ministers and central bank heads from the G-20 economies are expected to discuss speculative moves at a meeting in Paris from Feb. 18, including concrete steps to monitor them.
The prices of grains and sugar are on an upward trend due to unseasonable weather in many parts of the world, with the U.N. Food and Agriculture Organization's Food Price Index rising to an all-time high in January.
The main issues to be discussed will be steps to stem price increases and setting up a mechanism aimed at monitoring speculative moves, the sources said.
Increasing demand for foods in emerging economies and the influx of speculative money have apparently driven up commodity prices internationally, prompting an increase in retail prices for coffee and oil in Japan and other countries.
Growing popular discontent over food price increases has also been cited as a factor behind the recent uprisings in Tunisia and Egypt, raising concerns among leaders in some countries.
The idea of a G-20 farm ministers' meeting came from French President Nicolas Sarkozy, whose country will host this year's G-20 summit meeting, according to the sources.
Finance ministers and central bank heads from the G-20 economies are expected to discuss speculative moves at a meeting in Paris from Feb. 18, including concrete steps to monitor them.
The prices of grains and sugar are on an upward trend due to unseasonable weather in many parts of the world, with the U.N. Food and Agriculture Organization's Food Price Index rising to an all-time high in January.
