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Wednesday, 19 September 2012

Better international coordination to reduce food price volatility

During the course of a meeting in Paris, French President François Hollande and FAO Director-General José Graziano da Silva stressed the need to work for better international coordination and increased information exchange, as these help ease tight markets.
Speaking of the Agricultural Market Information System (AMIS), Graziano da Silva said that its establishment, by the G20 in 2011, is important to improve market information and reduce volatility.
Additionally, the FAO Director-General took the opportunity to highlight the role played by France in placing food security and food price volatility on the international agenda. "France shares FAO's and the UN's position that we are not in a food price crisis”, he stressed.
AMIS was set up in 2011 to improve transparency and information flows on global markets and, through its Rapid Response Forum, to promote better coordination of policy responses to food price volatility.
France has been chair of AMIS since it was created. At the end of September, the United States assumes the chair for a 12-month period.
During the meeting, President Hollande stated that "the old order has gone but the new one has not yet emerged," including the need to create new governance arrangements to adequately address hunger and new challenges to world food security in the long-run.

Source: FAO/CTA