Food price warning

The world faces "a century of hunger" if the international community cannot agree on new rules regarding food prices, the French agriculture minister has warned.

The world faces "a century of hunger" if the international community cannot agree on new rules regarding food prices, the French agriculture minister has warned.

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With global food prices up 40% on average since last summer, there's a new consensus among the leading nations that they should act together not only to try and secure supplies but to curb some of the causes of the volatility, not just in commodity trading but on the streets as essential foods become unaffordable for some.

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The G20 nations hope to calm food markets by agreeing greater transparency in how much dairy, grain, rice or other foodstuffs each country is producing.

Now strong demand for farm foods seem likely to push up prices for years to come but President Sarkozy also blames speculators for price hikes which have fuelled unrest in the Middle East and North Africa but his demand for curbs on investors taking positions in food commodities seem unlikely to get majority support.

But another idea that may not get traction in Paris is a plan for countries to hold, say, grain or rice stocks in reserve. An idea seen as a throwback to the days when countries and not farmers controlled their own food production.

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consensus

uzlaşma

to curb

kontrol altına almak, sınırlamak

volatility

istikrarsız ve ani değişim

commodity trading

emtia ithalat ve ihracatı

transparency

saydamlık, şeffaflık

foodstuffs

gıda malzemesi

speculators

spekülatörler

price hikes

ani fiyat artışları

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fuelled unrest

huzursuzluğu, sokak hareketlerini alevlendirmek

a throwback

başarısızlık, gerileme