Tue, Sep 2, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Agriculture, Market Moves, Price Watch, Trading more

UN blames food price rises on trading in agricultural commodities

Posted on 30 November 2012

UN conference on trade and development (UNCTAD) says trade in futures contracts causes the most damage. The United Nations has laid the finger of blame for food price rises on trading in agricultural commodities, but says it is the trade in futures contracts – an agreement to buy at a set price sometime in the future – rather than the actual food stocks that causes the most damage.
David Bicchetti, associate economic officer at UN conference on trade and development (UNCTAD), said “enormous, humongous” amounts of money are traded on commodities that don’t actually exist. “Over $400bn [of paper money] is traded – that’s 20-30 times the physical production of the commodity.”……………………………………….Full Article: Source


 Article link

This post was written by:

VRS - who has written 36729 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

September 2014
S M T W T F S
« Aug    
 123456
78910111213
14151617181920
21222324252627
282930