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

When will there be a supervisory authority on
agricultural commodities?

September 15, 2014

Opacity, impunity, vertical integration, detachment from economic realities... These are all adjectives used to describe a few Swiss companies trading in commodities such as Glencore, Gunvor and Trafigura.

This is why the Swiss association of the Berne Declaration1, which although praises the efforts on transparency by some States including Switzerland, is recommending the creation of a supervisory authority on commodities, ROHMA, to “tackle the lack of regulation or rather to address the inadequacy of the few existing regulations.” “An independent authority, ROHMA would be mandated to regulate and monitor the trading activities of mining companies, importers and gold refineries to minimize the scourge on resources and to assist countries rich in natural resources and mobilize them to combat poverty”.

Wouldn’t it be advisable to use this approach as an example to initiate a market supervisory authority for agricultural commodities, because there could be significant risks to global food security?

Because even though a growing number of States recently adopted measures to increase transparency or limit positions on futures markets (notably the revision of the EU Directive on MiFID II financial instrument markets), contributing to the definition of a new regulatory framework, simply recognizing the inherent risks in the commodities sector is insufficient. When will there be a shift from soft law to the implementation of mandatory measures to end being left to the goodwill of businesses?

The specific and strategic nature of agriculture in particular, demands this at a time when speculation on food is criticized, where derivatives are singled out for their opacity and where OTC markets are accused of intensifying price volatility.

1 The Berne Declaration calls on Swiss political and economic decision-makers to address inequalities worldwide and the standoffs that prevent the advancement of poor people throughout the planet.
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Paris, 16 December 2018