Press release no. 236 from 04.11.11Aigner: "We need more transparency in the markets"

Source: BMELV, Walkscreen

Federal Minister of Agriculture Ilse Aigner welcomed the decisions of the G20 summit in Cannes in France on curbing commodity volatility. "Currently we are experiencing a rollercoaster ride on the world agricultural commodities markets. This threatens to make staple foods unaffordable for an increasing number of people, in particular those in developing countries," said Aigner in Berlin on Friday. Germany vigorously advocates the curbing of excessive price fluctuations. Aigner: "More transparency in the markets is one key. I welcome the fact that the G20 head of states endorsed the decisions of the G20 Ministers of Agriculture in Cannes today, and supported the establishment of an Agricultural Market Information System (AMIS)."

Aigner went on to say that in future it had to be possible to see how much of most important food commodities were available in the market worldwide. "I also support the G20’s initiative for stricter regulation of worldwide commodity futures. On the one hand this strengthens the ability of markets to function properly, on the other it creates a more reliable framework for all market participants."

In June 2011, at the first meeting of agriculture ministers from the 20 most important industrialised and emerging countries in Paris, an action plan was adopted to ensure that there was greater transparency in international markets and to put an end to the abuse and manipulation of commodity prices. Federal Minister Aigner announced that she wanted to further advance this issue at the International Agriculture Ministers’ Summit which is to be held in Berlin in January 2012. The international conference on "Policies against Hunger" (21st to 23rd November 2011 in Berlin) that is held by the BMELV will also be focusing on access to natural resources and the challenge of global food security.

Background to the Agricultural Market Information System (AMIS)

In future, AMIS will be used to monitor the development of the four most important plant products (wheat, maize, rice, soya bean) and provide internationally comparable production and consumption figures. The cooperation between producers, exporters, importers, companies and international organisations will serve to make markets more transparent, strengthen trust in the markets and improve the distribution of food for the benefit of developing countries most in need. An evaluation system will also be established within AMIS to recognise extreme price spikes more rapidly, and to shorten the time required to take appropriate action. A satellite-supported geo-information system is also being examined which would provide important weather information and facilitate sound forecasts.