More than a hundred organizations from around the world call for the finance ministers of the G20 on the occasion of their meeting this weekend to limit food speculation by banks and funds. The appeal reads as follows:
In recent years, price increases for staple foods often led to dramatic shortages in many of the world's poorest countries. In 2008 the world experienced a serious crisis as the prices of rice, wheat and corn skyrocketed. In 25 countries, food riots broke out, and the total global number of hungry people grew by 100 million.
could given the current rising food prices are again a similar crisis at the door. We therefore call on the politicians and government of the European Union, the USA and other countries to act immediately to re food crisis prevented. eliminate
hunger and malnutrition is a huge challenge, but a concrete step would be to curb financial speculation in agricultural products. The troubled times make the financial markets Exchange contracts ("futures") in agricultural products for financial investors and speculators attractive. Enormous amounts of capital flooding the markets. Thus, they cause sudden price increases, which may have fatal consequences for low-income families in developing countries. Add to that the increasing price volatility, as "hot money" in the markets in and flows out again. This has devastating effects for farmers, because they themselves can not predict the short term, the prices will reach their crops.
is currently considering the regulation of excessive commodity speculation in the U.S. and the EU. In both cases, there are ways Implement reforms and thus to stabilize food prices. The governments of the G20 have identified this issue as a main priority. This political environment means a historic opportunity, a sustainable relation between financial and agricultural markets secure.
However, the financial industry has already invested billions of Euros in order to lobbying with governments to limit speculation. These lobbyists represent a small but extremely powerful interest groups who profit from operations which is disastrous for the majority of the people.
We therefore call on governments and members, instead of the many consumers, workers, peasants, listen businesses, religious groups, academics, international development activists and all others who are convinced that only an effective control of commodity speculation, the food producers and the world's poorest people can protect against sudden price spikes and fluctuations.
We need rules for several key areas. So complete transparency and oversight to the financial markets for food are guaranteed. The participation purely finanzwirtschaflicher actors in commodity futures markets for commodities must be tightly restricted. In addition, the purchase of physical inventory by Financial players will be banned.
The concern is urgent. Not only because there is currently a lively discussion on U.S., EU and G-20 level, but mainly because the prices fluctuate more in the agricultural and financial markets, with each month. If no measures are taken to prevent excessive speculation, it will be only a matter of time before we see the next chapter of the global hunger crisis.
* undersigned organizations >>> here .
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