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G20 Meets To Discuss Food Price Spikes

Inter Press Service reports on the G20’s recent working meeting on commodities in Buenos Aires. “The meeting was organised to address the causes of the new upward trend in food prices, including the growing demand in China and India, financial speculation and growing production of biofuels,” IPS writes.

“The experts meeting in Buenos Aires agreed that the decisive factor in the food market in the last few years is the surge in demand in China and India. … [T]he general upwards trend in prices is in response to greater demand, a factor that is here to stay” (Valente, 5/20).