A confidential draft report advising G20 leaders to curb the negative impacts of agricultural liberalisation was leaked at the end of March as finance ministers of the world's 20 most industrialised countries met in Paris. French President Nicholas Sarkozy has already stated that action on food security will be a priority under his leadership of the G20 throughout 2011.The reports' recommendations will be discussed at a proposed summit of G20 farm ministers from 22-23 June.
The leaked report, which includes contributions from a raft of UN agencies as well as the World Bank and the WTO, was drafted in response to a request from G20 leaders in 2010 on how to: "better mitigate and manage the risks associated with the price volatility of food and other agriculture commodities, without distorting market behaviour, ultimately to protect the most vulnerable." It calls for a systematic and internationally coordinated response to current instability in food markets, in contrast to the uncoordinated responses which characterised the 2008 food price crisis.
The report calls for market information and transparency to limit the influence of financial speculators on commodity prices, international food stocks to act as a buffer against food price inflation and tighter regulation of Futures markets. Importantly the report also recognises the vulnerability of small-scale and poor farmers, albeit with the recommendation of improved infrastructure, technology and extension services.
Some commentators however believed the report didn't go far enough. Friends of the Earth's food campaigner Kirtana Chandrasekaran points out: "We should be asking why the G20 has a mandate to address food crisis in first place. It's a highly undemocratic group. We would prefer to see these policies discussed under the FAO committee on World Food Security. The report is very weak on actually implementing any of its recommendations. Its not going to solve the crisis. On speculation the report doesn't call for a halt, on biofuels every single agency recognises a serious problem but only calls for more research. The meeting in July is going to be business as usual with big business lobbying for no moves to reduce subsidies or curb market access in other countries."