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Commodities Briefing - Categorized | Agriculture, Fund Profile more

Food price speculation taken off the menu

Posted on 04 March 2013

An Oxfam report that accuses banks trading agricultural commodities of “speculating on hunger” is transmitting high-voltage shocks across the fund management industry. European banks are choosing either not to speculate on food prices on behalf of investors or to scrap funds tracking agricultural prices, following a scathing critique by the non-profit group’s Paris office.
The change in conduct has been dramatic. BNP Paribas, France’s largest provider of agricultural commodities funds, suspended a $214m agricultural fund. Crédit Agricole, meanwhile, shut three funds that permitted investors to speculate on agricultural commodities, although this was partly for economic reasons as the funds were small………………………………………..Full Article: Source


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