Agreement on Greater Commodity Transparency

by 5m Editor
8 April 2011, at 9:15am

FRANCE & RUSSIA - French farms minister Bruno Le Maire and his Russian counterpart Yelena Skrynnik have formed a joint working group to coordinate international action to curb food price volatility and address food security concerns.

Both sides have agreed to improve transparency in the reporting of agricultural commodity stocks and to promote better cooperation among the G20 nations, in order to avert food crises and achieve greater market oversight.

Mr Le Maire said, “There are one or two technical points we need to clarify, notably with regard to the question of exports, which is a very sensitive issue“.

The joint proposals will now form the basis of discussion at a G20 meeting of agriculture ministers in Paris on 22-23 June.