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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (48742)	4/19/2009 8:12:17 AM
From: Haim R. Branisteanu	Respond to of 219081

G-8 Farm Ministers See Sharp Rise In Cereal Prices -Sources CISON DI VALMARINO, Italy (Kyodo)--Farm ministers from the Group of Eight nations will indicate their recognition that cereal prices are likely to rise sharply in the future in a joint statement to be issued Monday, Japanese government sources said Sunday. They also will stress the need to step up farm production while expanding agricultural investment in the statement to be released after their three-day meeting in Cison di Valmarino, Italy, according to the sources. In the statement, they also will show their readiness to map out measures against erratic fluctuations in cereal prices caused by speculative money, and to develop an international storage system. The statement will be reflected at the G-8 summit meeting in Italy in July. The G-8 groups Britain, Canada, France, Germany, Italy, Japan, Russia and the U.S. On Saturday, meanwhile, the G-8 farm ministers and their counterparts from eight other countries emphasized at an extended meeting that small-scale farmers must be supported in increasing production amid a downturn in agricultural investment due to the global financial crisis. On the first day, G-8 ministers initially met on their own before the talks were expanded to include other countries such as Australia, Brazil, China, Egypt and South Africa, conference officials said. In the expanded meeting, India explained its measures to support its numerous small-scale farmers, while countries including Mexico, China and Brazil said family-run farms will play an important role in increased production. Crop prices in the global marketplace had shot up until around last summer, when the global economic slowdown capped the rises. Ahead of the expanded talks, Japanese Agriculture, Forestry and Fisheries Minister Shigeru Ishiba met separately with his Italian counterpart, Luca Zaia, and Jacques Diouf, director general of the U.N. Food and Agriculture Organization. The gathering of the G-8 farm ministers, the first of its kind, was agreed on at last year's G-8 summit in the Japanese lakeside resort town of Toyako, Hokkaido. Click here to go to Dow Jones NewsPlus