Brussels, 30/11/2010 (Agence Europe) - On Monday 29 November, France told EU partners of its intention to include the question of agricultural price volatility on the agenda of its G20 presidency. “No-one can handle such price volatility - for example when the price of milk goes from €400 per tonne to €260 per tonne the following year, or when the price of wheat surges from €115 per tonne in July 2010 to over €220 per tonne at the end of August 2010”, said Bruno Le Maire, French Agriculture Minister, during a press conference.
France, which holds the G20 presidency until November 2011, has indicated that this is the first time the G20 will be dealing with agricultural issues. A meeting of G20 agriculture ministers will be held in Paris in mid-2011.
France's aim is to combat agricultural price volatility “which is unbearable for farmers”. The methods put forward by France include: - Better coordination of information on agricultural raw materials. The closure of Russia's borders to exports when it is the first wheat producer worldwide “has an enormous impact on the markets”, according to Le Maire. There is no tool for coordination between G20 countries, which make up 80% of global agricultural and agri-food trade and 65% of arable crops. - Greater transparency on existing volumes of production and stocks. “There is no statistical instrument allowing the level of regional stocks to be compared”, Bruno Le Maire said. - Measures to counter speculation on the agricultural markets by providing a better framework for the mutually agreed instruments that exist today on these markets. It is possible, Le Maire said, to avoid market speculation. (L.C./transl.jl)