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Food price fears prompt plans for emergency talks



The US, France and Mexico are planning talks to consider whether an emergency meeting is needed to tackle the soaring price of grain.

The three will hold a conference call at the end of this month after the worst US drought in 50 years threatens to cause a sharp rise in the cost of staple crops.

The call will decide whether to convene the first meeting of the newly-formed G20 Rapid Response Forum.

It was formed to promote united action.

A French agriculture ministry official said: "If the situation requires it, a meeting of the Rapid Response Forum could be called as soon as the start of September.

"The aim is to talk about the situation and avoid measures like export embargoes which would be damaging for everyone."

On Friday, the price of benchmark Chicago corn reached an all-time high after the US Department of Agriculture cut its production estimate by 17%.

Four years ago spikes in the price of food triggered riots in 12 countries, including Egypt, and prompted Russia to ban wheat exports to conserve its own stocks.

The conference call will discuss a report on agricultural prices requested by France, it was compiled by the Agricultural Market Information System (AMIS).

France is currently the president of both the forum and the AMIS system, which is based at the UN Food and Agriculture Organisation (FAO).

The FAO's food index last week was reported to have risen above the record registered in 2008 after jumping 6% in July.

The forum has no formal power to impose decisions on member states, but it is hoped that discussions will discourage countries from taking unilateral action.----

Source: http://www.bbc.co.uk/news/business-19245217


Added: Aug-13-2012 Occurred On: Aug-13-2012
By: MB-UK
In:
World News
Tags: food, price, fears, emergency, talks, drought, usa, france, mexico
Views: 1116 | Comments: 46 | Votes: 1 | Favorites: 0 | Shared: 1 | Updates: 0 | Times used in channels: 2
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  • oil prices and huge profits weren't enough.. next stop is your meal

    Posted Aug-13-2012 By 

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  • Comment of user 'MR tommygun' has been deleted by author (after account deletion)!
  • Do you know who needs our food? Arabs. They have the oil but we have the food.

    Posted Aug-13-2012 By 

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    • @rather-dashing apparently the news about you now do not have enough food

      Posted Aug-13-2012 By 

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    • @rather-dashing

      I'll take food over oil.

      Posted Aug-13-2012 By 

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    • Comment of user 'MR tommygun' has been deleted by author (after account deletion)!
    • @IHATEZIONS,
      Correct. The weather this year in the Midwest (near me) has been very dry. This will affect yields this year. But America will get the first of the harvest. It will be other nations that will go without.

      We can grow more grain than we do. Land is left fallow in order to support the price of grain.

      Posted Aug-14-2012 By 

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    • @MR tommygun,

      In the long run, farmers will have to "go Amish" to raise crops without oil. My daughter lives near 3 Amish farms. You can hardly distinguish their fields from the "English" farms.

      Posted Aug-14-2012 By 

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  • Folks, buy your beer now and your Pepsi One, as it will go up asstronomically! Everything has corn in it

    Posted Aug-13-2012 By 

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  • The food shortage wont hurt Americans...as usual it will only hurt the welfare nations that the US supports, for some stupid reason.

    Posted Aug-13-2012 By 

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    • @thinkslaughter you do realise the US is a net importer of food so it will effect the USA. Yes the USA exports lots of wheat, sugar etc (at a loss btw thanks to tax dollars) but imports more ie processed food. Also prices for primary foods are globally set so things like bread and meat will go up even if you have no shortages locally.

      Posted Aug-13-2012 By 

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    • @thinkslaughter the wheat prices decided by the wall st and the world stock markets price matching policy so if the usa think the wheat price will go up due a short production, the uk may have plenty wheat production but still will have to match the price with the wall st and increase theirs just like whole eu.

      that means we all are fucked up by imaginery numbers and stories by the wall st's rich cunts, just like the oil prices recently, they will fuck us with wheats and other resources

      Posted Aug-13-2012 By 

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  • Quick, send more money to africa.

    Posted Aug-14-2012 By 

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  • more extrotion for food.

    Posted Aug-13-2012 By 

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  • If all else fails we can all eat rat meat shot w/ air rifles from the UK/GB, No Fear...

    Posted Aug-13-2012 By 

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    • Comment of user 'MB-UK' has been deleted by author (after account deletion)!
    • @MB-UK yea just like Hugh Laurie

      Posted Aug-13-2012 By 

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    • Comment of user 'MB-UK' has been deleted by author (after account deletion)!
    • Comment of user 'MR tommygun' has been deleted by author (after account deletion)!
  • Maybe we shouldnt put "food" in our gas tanks..... It doesnt take a rocket scientist to see the whole ethanol scam is a failure.

    Posted Aug-13-2012 By 

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    • @daveporter well many ethanol manufacturers now use the wast from turning things like wheat into flour etc. What needs to happen is for governments to stop putting money into ethanol producers using primary food supplies for fuel and push that money to companies using wast to produce ethanol.

      Posted Aug-13-2012 By 

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  • Comment of user 'oldboy6o4' has been deleted by author (after account deletion)!
    • @oldboy6o4 it is the stock market talks how to fuck people over by charging them more for nothing

      Posted Aug-13-2012 By 

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    • Comment of user 'oldboy6o4' has been deleted by author (after account deletion)!
  • There is a double whammy for the US and Europe in that their currencies have tanked and wheat crops have bombed.

    Posted Aug-13-2012 By 

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  • Comment of user 'Norml' has been deleted by author (after account deletion)!
    • @Norml
      coming to a country near you

      Posted Aug-13-2012 By 

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    • Comment of user 'Norml' has been deleted by author (after account deletion)!
    • @Norml
      there is enough ways to grow its just a fact of lazy why its not done; you cant convince your people to be dependents if your not
      theLAB

      Posted Aug-13-2012 By 

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    • Comment of user 'Norml' has been deleted by author (after account deletion)!
    • @Norml
      Or "What do you mean our Nations going to shit, I just stay out of those areas"
      Its always ok, until it happens to you.

      Oj, Madeoff, Gibson, Obama Changed Nothing. They all just think they did, have, done, and will.
      theLAB

      Posted Aug-14-2012 By 

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  • well ow comes the media black outs
    theLAB

    Posted Aug-13-2012 By 

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  • Folks, buy your beer now and your Pepsi One, as it will go up asstronomically! Everything has corn in it

    Posted Aug-13-2012 By 

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  • Hey,
    maybe all those third world countries we gave free grain to all these past decades should return the favor.
    Yeah
    feed the world ..... powers --> BITCHES !

    we got WIC mommas wantin the free shit
    and shit

    Posted Aug-13-2012 By 

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  • Economic war of attrition. Middle eastern fuckers dick with the supply of oil, we dick with the supply of food. Wonder who can hold out the longest?

    Posted Aug-13-2012 By 

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    • Comment of user 'MR tommygun' has been deleted by author (after account deletion)!
    • @MR tommygun -Commodity trader are simply a mechanism for the market to make adjustments for the fluctuation in supply and demand. For some body to get rich they would have to cause a shortage, have some accurate prediction models, or place a very large amount on what is essentially a wager. The gamblers don't last long.

      Already, beef prices are on the decline. Rancher are culling there herds to adjust for the future price of grain. The ripple effect reverberates throughout the market people al More..

      Posted Aug-13-2012 By 

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    • Comment of user 'MR tommygun' has been deleted by author (after account deletion)!
    • Comment of user 'MR tommygun' has been deleted by author (after account deletion)!
  • Fuck france

    Posted Aug-13-2012 By 

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    • Comment of user 'POLUX' has been deleted by author (after account deletion)!
  • USA,Mexico who cares about France.

    Posted Aug-13-2012 By 

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