The G20 agriculture committee announcement, June 23, 2011, of a new "Action Plan on the volatility of food prices and agriculture." It should be noted that the plan totally ignores the essential regulation of national and regional markets that involve public policy and trade protection arrangements.
The G-20 reaffirmed its commitment to liberal dogma of "unfettered exchange of food and agricultural commodities." At the international level, no mechanism of market regulation by means of buffer stocks is considered, the G20 simply advocated "greater transparency" on existing stocks and production forecasts. The regulation of agricultural markets, discussed in general terms, has been referred to the Finance Ministers.
No action is expected to address the problems posed by the development of biofuels (competition with food production, land grabbing at the expense of local farmers, deforestation), the G20 simply requested a study.
For developing countries and their farmers, G20 promotes the development of private agricultural insurance and the use of futures markets, the tools that will be targeted at farmers who are already privileged.
In addition, agricultural insurance systems can only function with substantial public subsidies. In total, these solutions advocated by the G20 will make that public money - including international co-operation - will enhance the financial markets, rather than supporting the peasantry!
Under these conditions, calls from the G20 to support agricultural production are likely to have little effect on peasant agriculture in developing countries, while its development is a key issue for future food security of these countries, the ability of agriculture to engage in ecological transition and the creation of productive and remunerative employment.
The G20 has shown yet again that it responds clearly to the interests of agribusiness, multinational agribusiness and financial capital. G20 has turned its back on the great issues of humanity that of food security, the ecological transition of agriculture and the relocation of production, safeguarding jobs.