Only urgent action can help poor farmers

Just three years after the 2007-2008 food crisis, expanding biofuel production, rising oil prices, depreciation of the US dollar, extreme weather and export restrictions have again led to high and volatile food prices, threatening the well-being of the world's poorest consumers, who spend up to 70 percent of their income on food.

Any plan to curb food price volatility and protect the poor will require decisive action on a number of fronts, including taking measures to control speculation in agricultural commodities, promoting open trade, lifting export bans, establishing emergency food reserves, curtailing biofuel subsidies, and strengthening social safety nets, especially for women and young children.

The meeting of G20 Ministers of Agriculture in late June was an important step in addressing food price volatility and a clear indication of the commitment to helping the world's most vulnerable people.