A new vision for agriculture
momagri, movement for a world agricultural organization, is a think tank chaired by Christian Pèes.
It brings together, managers from the agricultural world and important people from external perspectives,
such as health, development, strategy and defense. Its objective is to promote regulation
of agricultural markets by creating new evaluation tools, such as economic models and indicators,
and by drawing up proposals for an agricultural and international food policy.
A look at the news

Excessive speculation: France slated again

March 2nd, 2015

Uncontrolled speculation on agricultural commodities does not appear to have declined since 2008 even though NGOs and States are more likely to be aware of the ravages of all-out liberalization marked by the erratic evolution of world agricultural prices.

In France, two years ago, banks pledged to reduce speculation on agricultural markets by closing some of their index funds or by ceasing to speculate on agricultural commodities.

But according to the latest findings in a report by Oxfam France entitled “are French banks still speculating on hunger?”, the majority of these commitments appear to remain at a dead end, while the State has not continued its financial regulatory policy initiated in 2013 (the law for the separation and regulation of banking activities).

For one NGO, “international experts are now certain and denounce the risks posed by excessive speculation on the right to food of vulnerable populations.” Indeed, speculative strategies that are disconnected from the physical fundamentals lead to the gradual financialisation of agriculture, and therefore to risks in terms of food security and supply. Yet despite this conviction, the NGO notes speculation rose by 40% in one year, reaching 3.5 billion euros at the end of 2014, although, she explains, it is very difficult to quantify this increase because of the opacity of the data.

Therefore victory over the fight against excessive speculation and market abuses is far from achieved. In this context, it is imperative that France, Europe and the international community as a whole continue their efforts for regulation to guard against the formation of an “agricultural bubble” whose effects would be at least as devastating as those of the financial crisis.

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Paris, 24 June 2019