Awwal 01, 1432, Feb 04, 2011, SPA -- French Farm Minister Bruno Le Maire said on Friday he saw a risk of food crisis and ensuing riots and called on the world's main political and economic powers to boost efforts in fighting speculation on commodities markets, according to Reuters. "We share the same view that today the real risk of a global food crisis exists," Le Maire told reporters at a joint news conference with Jacques Diouf, director general of the United Nations' Food and Agriculture Organisation (FAO). Le Maire also said they saw risk of food riots as prices of major agricultural commodities surged to record highs. Global food prices climbed to record highs in January and the FAO on Thursday warned the prices were likely to rise even higher as supplies of grains and other main agricultural commodities were tight and bad weather in key producing countries threatened new crops. Le Maire has reiterated calls by France, the current G20 leader, for more transparency in agricultural commodities stocks and better coordination between the G20 states to avoid unilateral measures such as export curbs. "Regulation does not mean fighting against markets, but improving the way in which markets function," he said.
