The G20 group of leading nations is to launch an attempt to reduce price volatility in agricultural commodities by collating greater market information on global stocks and production.
The initiative, called the Agriculture Market Information System (Amis), comes as the world economy weathers its second food prices shock since 2007 due to production shortfalls, strong demand and the lowest inventories in decades.
The UN Food and Agriculture Organisation on Tuesday warned that agricultural commodities prices were likely to remain high and volatile for the rest of the year, in a sign that food inflationary pressures would not ease any time soon.
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