Earlier this week, the Financial Times reported that G20 countries were considering how and when it should step in some sort of co-ordinated way to deal with rapidly rising prices of corn and soybean, two fundamental crops central to the diet of much of the world’s population.
Citiing unnamed G20 officials, the Times indicated that the G20 was ready to convince an emergency forum after the U.S. Department of Agriculture slashed its latest corn crop estimates last Friday. The Times did not mention Canada specifically but, of course, as one of the leading G20 economies and as one of the world’s largest food producers, Canada would be keenly interested and, presumably, involved in these discussions. Continue reading As food prices skyrocket, "feeble" G20 considers talking about it