G20 Moves To Make Food Prices Stable

The Associated Press reports:

The largest economies in the world agreed Thursday to a series of measures to stabilize world food prices after sudden fluctuations caused global instability, especially in poorer countries.

French Agriculture Minister Bruno Le Maire said the G-20 summit of agriculture ministers had agreed to calm the world market by establishing a transparent system to track global supplies, set up emergency food reserves, engage in more research into new wheat strains and create a rapid response mechanism to deal with drought in producer countries.

“It is a tour de force for the international community that lets you still believe in the power of solidarity and working together to address the big questions facing the planet, like the future of world agriculture,” Le Maire told journalists.

Non-government organizations working on food issues, however, slammed the accord as too timid, saying it did not address the controversial issue of biofuels, which take up land that could be used to grow food, and doesn’t focus enough on building up emergency stocks.