BREAKING NEWS

US, France ready for possible G20 meet on grain, soy prices

By REUTERS

AUGUST 13, 2012 13:01

PARIS - The United States and France are closely watching rising grain and soy prices and will be ready to call for an emergency meeting of G20 agricultural officials if needed, France's agricultural minister said on Monday.

"France...and the United States remain attentive to any new fact that could justify a meeting of the rapid response forum," Agricultural Minister Stephane Le Foll wrote in a statement.

Last month, France activated the G20 grain action body that deals with agricultural market information and said it would call an emergency meeting of the forum - which was created last year to manage market crises - if the grain situation in the United States and Russia were to worsen.

The United States, where severe drought has led to a global surge in cereal prices, will take over the helm of the grain action body in October over which France currently presides.

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