Food speculation We campaign for an end to excessive and harmful food speculation. The hunger of people must come before the hunger of financial institutions

19 December 2013

Food speculation by banks and financial institutions continues to contribute to rapid and unpredictable swings in food prices. Yet, corporate lobbying on the Markets in Financial Instruments Directive (MiFID) – which sets new regulations for financial markets – has undermined attempts to curb this destructive practice, according to Friends of the Earth Europe. This will allow speculators to continue profiteering at the expense of the world's most vulnerable.

16 September 2013

Five years on from the bankruptcy of the Wall Street bank Lehman Brothers, Europe has done little to respond to the ensuing financial crisis, according to a statement from 40 civil society groups. Europe still lacks the solid regulation that could prevent another financial collapse, and the necessary measures to curb the influence of the financial lobby in Brussels.

Food speculation is contributing to higher and more volatile food prices. Higher prices force millions of people into poverty and hunger, and drive land-grabs in developing countries. All while banks, life insurers and pension funds reap huge profits.

 

Friends of the Earth Europe campaigns for strict regulation to rein in this destructive activity and protect the most vulnerable from the whims of Europe's big financial players. 

For enquiries please contact:

  • Anne van Schaik