What is the impact of food commodity speculation on the realization of the right to food?
Beginning around 2005, markets for numerous agricultural commodities started to witness price increases and higher levels of volatility, with severe consequences for the right to food in poor, net food-importing countries.
There is a lively debate as to whether these developments were only the result of factors adversely affecting food supply, or whether excessive speculation in food commodities derivatives may have worsened volatility and price spikes on already tight markets.
In particular, there is reason to believe that a significant role was played by the entry into food commodity derivatives markets of powerful institutional investors such as hedge funds, pension funds and investment banks, all of which are generally unconcerned with agricultural market fundamentals. Fundamental reform of the global financial sector is therefore required in order to avert another food price crisis.
|Read||GIZ German Development Agency (Germany) — "Cracking Down On Speculation – a Safe Bet For Tackling Hunger" (01-02-2013)|
|Read||14/05/2012, Geneva: G-8 / EU: “A global financial transaction tax, a human rights imperative now more than ever”|
|Read||The Independent (UK) — The real hunger games: How banks gamble on food prices – and the poor lose out (01-04-2012)|
|Read||Die Zeit (Germany) — "Die Deutsche Bank verhält sich verantwortungslos" (25-04-2012)|
|Read||31/10/2011, Geneva: Key chance for G20 to tackle negative impacts of biofuels and speculation on human rights|
|Read||Op-ed: “Food Crises: 8 Priorities for the G20”, Project Syndicate, 28 January 2011.|
|Read||Background note: "Observations on the current food price situation", 21 January 2011.|
|Read||Press release: “In Rome, the Committee on World Food Security reinvents global governance”, 21 October 2010.|
|Read||“The 36th session as ‘Year 1’ of the reformed CFS: proposals for steps towards enhanced governance on food security”, Contribution in advance of the 36th session of the Committee on World Food Security, 5 October 2010.|
|Read||“Food Commodities Speculation and Food Price Crises. Regulation to reduce the risks of price volatility”, Briefing note by the Special Rapporteur on the right to food, September 2010.|
|Read||Op-ed: Millennium development goals need more emphasis on human rights", The Guardian, 21 September 2010.|
|Read||Press release: "Food riots: Predictable crisis, unprepared governments”, 7 September 2010.|
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