Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-17-Speech-4-372-000"
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"en.20110217.18.4-372-000"2
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".
Food safety is a central issue for Europe and precisely for this reason it demands an unabatedly robust common agricultural policy (CAP) and, as an objective, is unattainable unless we find a solution to the two most important current problems, the volatility of markets and prices, and dwindling food stocks. Growing speculation related to agricultural and food commodities lies in the background of the current increase in food prices. Investment funds are pumping huge amounts of money into food price speculation, thus forcing consumers to pay prices that exceed the production costs several times. Price rises exacerbate the problem of accessibility, in particular for people with low or no income. Expenditure on food is one of the main components of family budgets, accounting for 60 to 80% in developing countries and 20 to 30% in the less developed Member States. Financial instruments must serve the economy and must help agricultural production overcome major crises and climatic events, and for this reason speculation cannot be permitted to jeopardise agricultural production. I condemn speculation in agricultural commodities and raw materials, which contributes to increased price volatility and the deepening of the global food crisis. For exactly this reason I agree, and I support, that in the future CAP effective action cannot be taken against major price fluctuations without strategic stocks and so the role of market intervention instruments must be strengthened."@en1
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