June 15, 2011

Sarkozy: Restict price volatility of food commodities

French President Nicolas Sarkozy said Tuesday he wants the world's group of 20 rich industrial nations and major emerging markets to set up a shared central database of food prices to help control market volatility and keep commodity speculators in check. Key measures proposed by Sarkozy to curb commodity price volatility include minimum cash deposits for derivative trades as well as the creation of trade repositories that would be able to keep track of these trades.

More transparency
The Group of 20 industrial and emerging nations should also rise to the challenge of increasing its food and oil production in the face of rapidly growing demand, Sarkozy said. It should also beef up transparency on stock information so as to help prevent future food crises, he added. Read more ...

This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers

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