food price spikes
EU ministers leave the door open for harmful food speculation
Little will be done to curb harmful food speculation today as EU finance ministers meet to approve their position on the new Markets in Financial Instruments Directive (MiFID II) – which sets new regulations for financial markets. According to a broad coalition of environmental and development organizations, loopholes in the legislation will render it ineffective to prevent food speculation, and the resulting food price spikes that hit the poorest the hardest.
European Parliament draws line in the sand: financial markets must not play with food
Onus of incorporating strong rules to limit speculation on food commodities into Markets in Financial Instruments Directive (MiFID) now lies with Member States
Extreme Weather, Extreme Prices
Climate change is making extreme weather much more likely. As the 2012 drought in the USA shows, extreme weather means extreme food prices.
Extreme Weather Events and Crop Price Spikes in a Changing Climate
Agriculture is highly sensitive to climate variability and weather extremes.
Food price spikes will get worse as extreme weather caused by climate change devastates food production

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