On 30th November, the Technical Centre for Agricultural and Rural Cooperation, in collaboration with the European Commission and IFPRI, organized a meeting in Brussels on the theme of food price volatility.
The date was symbolic, since it marked the transition of the G20’s Presidency from France to Mexico. At the beginning of 2012, marked by the current crisis, Mexico has the burden of continuing the work begun by the French G20 Presidency on food security and price volatility.
Under the French Presidency, which for the first time included food security and combating agricultural price volatility among G20 priorities, 2011 led to major advances. Heads of state endorsed the proposals made by their ministers of agriculture, prompting deliberations on the role of stocks and the financialisation of markets, but also the setting up an information system on agricultural markets.
The first declarations made by Mexican leaders are encouraging. Adriana Herrera Moreno, head of international trade negotiations at the Mexican Ministry of Agriculture, in fact stated at the meeting on 30th November, that her country would continue efforts to mitigate the effects of price volatility. On the agenda of President Felipe Calderon are also two key areas: financial regulation and food security, particularly through regulating commodity prices.
The issues are pressing. In a context of global economic crisis and price hyper-volatility on agricultural markets, where the spectre of food insecurity is ever present, the G20 decisions made in Cannes are emerging today as an essential step. Hopefully Mexico will encourage further progress.
|