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Monday, 04 July 2011

G20 - Outcome of the ministerial meeting on agriculture

The 3104th Council meeting on Agriculture and Fisheries held in Luxembourg on 28 June 2011 was briefed by France on the outcome of a meeting of G20 agriculture ministers held in Paris on 22 and 23 June to discuss the price volatility affecting agricultural commodities. The June meeting proposed an action plan on the volatility of agricultural prices to be endorsed by the G20 Heads of State Summit scheduled for 3 and 4 November 2011 in Cannes. France, which currently holds the presidency of the G20, presented the main output of the action plan agreed by the G20 agriculture ministers:

  • developing agricultural production in the long run in order to match the increasing demand and to limit shortages;
  • improving market information and transparency in the interests of governments and economic operators by creating a joint database on stocks and production;
  • improving international coordination in order to enhance confidence in international markets and to prevent and manage food crisis more efficiently, e.g. by setting up a specific world forum able to respond quickly in the event of a crisis;
  • developing risk management tools for the most vulnerable in order to cope with excessive food volatility; and,
  • better organising the agricultural markets.

Source: Council of Ministers