Food price speculation: Government demands more openness from investors

26 May 2011

Food price speculation: Government demands more openness from investors

SP Member of Parliament Henk van Gerven has chalked up a success in the fight against speculation in food prices, a major cause of global hunger. High prices have been partly brought about by speculation and index investments by investment funds. At Van Gerven’s request the cabinet will meet with investors to look into the extent to which they are involved in such speculation and how this can be dealt with. High food prices mean that millions more people in poor countries can no longer afford to eat adequately. In 2007 and 2008 this led to the deaths of hundreds of thousands of children.

Henk van GervanIn the debate on food prices Secretary of State for Agriculture Henk Bleker turned out to be sympathetic to the SP’s argument that speculation in food should be closely investigated. He will speak with pension funds and ask them to be open regarding their investment policies as they relate to trade in foodstuffs, sounding out the extent to which, if they are involved in such speculation, they are prepared to adjust these policies. “In the past the SP has succeeded in stopping investments in cluster weapons,” recalls Van Gerven, “now I’m asking the pensions funds which invest in it to stop the trade in hunger as well.”

You are here