Asians see France's G20 food push as part of solution

[Joanne98]

Source: Reuters

(Reuters) - Asia, facing some of the highest food inflation in the world, may support the broad thrust of France's push for G20 to tame volatile commodity prices but it is also seen as only part of the solution to ensuring the world can afford to eat.

South Korea said it supported the plan but an Australian farming body said the proposal put forward on Monday by French President Nicolas Sarkozy was avoiding the "elephant in the room" -- the need to reduce trade barriers.

"To suggest that the problem is solely around regulation or practices around commodities markets is missing a large portion of the issue," said Charlie McElhone, economics and trade manager for Australia's National Farmers Federation.

Sarkozy targeted commodity price volatility as he laid out plans for France's turn at the helm of the G20 group of leading economies, calling for improved transparency and tougher regulation.



Read more: http://www.reuters.com/article/idUSTRE70O2G620110125

[xchrom]

1. must be a blue moon -- i agree with sarkozy.

commodity speculation is a problem.