CIAA Seeks Workable Regulatory Framework Governing Commodity Challenges

Europe’s largest manufacturing industry, the food and drink industry, is hopeful that some policy responses to meet agricultural raw material commodity challenges will be found at the G20 meeting of Agriculture Ministers in Paris next week.

6/15/2011 --- Against the backdrop of extreme volatility of agriculture commodity prices, the CIAA (Confederation of the food and drink industries of the EU) urges a workable regulatory environment that meets the needs of both Europe’s food industry and the millions of consumers that it serves every day.

Following a high level conference organised in Brussels yesterday by the European Commission entitled, “Commodities and raw materials: Challenges and Policy Responses”, Europe’s largest manufacturing industry, the food and drink industry, is hopeful that some policy responses to meet agricultural raw material commodity challenges will be found at the G20 meeting of Agriculture Ministers in Paris next week.

Speaking after the high level conference in Brussels, CIAA Director General, Mella Frewen, commented:
“I am confident that the EU is taking the right steps to tackle extreme food price volatility and global food security. The messages conveyed by European Commission President, M. Barroso, President of the G20, N. Sarkozy, and by European Commissioner for Agriculture and Rural Development, M. Ciolos, are in line with the expectations of Europe’s diverse and fragmented food and drink industry ahead of the G20 Ministerial. By supporting measures aimed at increasing production of agricultural raw materials, encouraging international coordination and market transparency, adequate regulation and a supervisory framework to govern commodity derivatives, the EU is sending the right message to Agriculture Ministers ahead of the discussions that will take place on 22/23 June.’’