UK hedge funds driving up world food prices?

loldog

Al Jazeera reports that a number of UK financial institutions are manipulating global food prices.

https://www.youtube.com/watch?v=WUQnDGYupeE

Surely these people could find a better way to make a living?

.

Its a growing market..

Yitzhak Rabin

I saw this report the other day and it is completely sickening the way they can manipulate the market and profit from the starvation of others. I don't think that food should be traded on the commodities market and traded like the precious metals.

pegasus1

commodity speculation should be banned worldwide in my opinion...

is it not one of the reasons fuel is so high these days?

hedge funders are like the middlemen of stock markets are they not..

uprising2

It's fooking sickening what some greedy bastards will do for the love of money, it's just another cog in the works of the "system", but is anybody really surprised?, isn't that the way the system works and always has.

Mr Plough

Hmmm, something is missing here. Let me see if I can make it right.


This is ridiculous, there is nothing to see here !! To think somebody is behind starvation of others is silly.
Get off your computers and see the world you crazy conspiracy theorists !!!!

humanji

Grow up

listermint

Mr Plough wrote: »

Hmmm, something is missing here. Let me see if I can make it right.


This is ridiculous, there is nothing to see here !! To think somebody is behind starvation of others is silly.
Get off your computers and see the world you crazy conspiracy theorists !!!!

This is no different to trevelyan and the tripe he spouted, Its pure unadulterated greed and frankly demonstrates the worst in humanity. But man is a greedy devil a greedy devil indeed.

the_syco

I believe the chinese had a VERY bad drought this year which causes increased food prices, as they supply a lot of the wheat.

Link: http://intvlive.com/Intv-News/02-14-2011/2011-02-14_Wheat.html

Monty Burnz

To be fair, it's a bit more complicated than it is being portrayed here - like it or not, food is a commodity. And the effect of commodity markets (like any other market) is to ensure that there is the correct amount of a product supplied at a viable price.

On the other hand, the thought that people could go hungry or starve based on the unwitting or thoughtless actions of a trader somewhere is pretty repugnant. Food as a commodity is different to others as it is unpredictable, perishable and essential - nobody will die if there is a shortage of copper or the price of gold goes through the roof.

I wonder has any serious thought been given to addressing this problem?

My name is URL

Starvation has caused the deaths of more people in the last century than all wars combined, and that's not because of the lack of food.. it's because of the lack of wealth required to either buy or produce food.

The UN has said that 18,000 children die from hunger every day.

"Poverty is the worst form of violence"

the_syco

Monty Burnz wrote: »

I wonder has any serious thought been given to addressing this problem?

As I said in

the_syco wrote: »

I believe the chinese had a VERY bad drought this year which causes increased food prices, as they supply a lot of the wheat.

Link: http://intvlive.com/Intv-News/02-14-2011/2011-02-14_Wheat.html

I think 5 or 8 provinces are effected by the drought, with some not having rain since October last year. Not only is the lack of export causing the wheat prices to go up, but also the import of food to feed the population is also adding to the rise of food prices.

Watch this: http://english.aljazeera.net/video/asia-pacific/2011/02/201122153026552489.html
Longterm, I'd say it's only a matter of time before there is social unrest by China, or they look to expand land, to get water. They dig deeper every year there's a drought, to get water, to give to the people and their crops, but the deeper they go, the less water there'll be. It's only a matter of time before they run out of water, and the chinese go looking for water.

Altreab

Deleted User wrote: »

Its a growing market..

Not when theres a drought in Russia and Putin bluntly says nope we arent going to fulfill the export contracts for wheat to the world market because if we do then russians will starve ..so FO the lot of you (much as i hate the price of wheat going up i cant find fault with his reasoning)

loldog

Our old friends Goldman Sachs have also profited from world hunger.

.

saywhatyousee

Perhaps it time to increase the amount of arable land in Ireland,The world needs a lot of food and we have a lot of un-used land.would not cost much to do this aswell as creating loads of badly needed jobs

charlemont

listermint wrote: »

This is no different to trevelyan and the tripe he spouted, Its pure unadulterated greed and frankly demonstrates the worst in humanity. But man is a greedy devil a greedy devil indeed.

maybe it should read the ANGLO SAXON man is a greedy devil..

Moriarty

It's a less cut-and-dry issue than might first meet your eye. I'd suggest anyone interested in the issue has a read of this:

http://www.theregister.co.uk/2011/02/11/food_futures_are_a_bad_business/

It specifically deals with the hysteria around food futures and other supposedly downright evil derivitives. Have a read, it's a short article.

Monty Burnz

saywhatyousee wrote: »

Perhaps it time to increase the amount of arable land in Ireland,The world needs a lot of food and we have a lot of un-used land.would not cost much to do this aswell as creating loads of badly needed jobs

Wouldn't work as long as we are in the EU, and it wouldn't be viable economically (barring disaster) if we were outside it.

srsly78

Hey guys, those hedge funds are investing YOUR pension money. So it's really you that is responsible

Fattes

I work in the Hedge Funds industry and se the holdings of a large variety of hedge funds and I can honestly say only one of them has futures in any kind of food based commodities!

So this report should be filed nude rhte Jimm Corr page!

the mucker

saywhatyousee wrote: »

Perhaps it time to increase the amount of arable land in Ireland,The world needs a lot of food and we have a lot of un-used land.would not cost much to do this aswell as creating loads of badly needed jobs

where is the unused land. Arable land is still making €8-10000 per acre and with wheat at record highs there is not too much arable land unused. Most of the "unused land" is unsuitable and would loose money in production. Anything with rushes on it is unsuitable. Most of the country is under grass but irisha farmeres have a love of cows and beef cattle.

The Kingdom County

There are only 3 things that can impact the price of a commodity, changes to demand, supply or the quantity of money. Given the governments, including teh irish central bank, are printing money like never before, do you think it is a co-incidence that prices are running wild. Yes, it is true, printing money makes it less and less valuable. The hedge funds are only betting on the outcomes, and yes, they are making it worse but they are NOT causing it

saywhatyousee

the mucker wrote: »

where is the unused land. Arable land is still making €8-10000 per acre and with wheat at record highs there is not too much arable land unused. Most of the "unused land" is unsuitable and would loose money in production. Anything with rushes on it is unsuitable. Most of the country is under grass but irisha farmeres have a love of cows and beef cattle.

not really you can replenish the land.Sure some of it is un-usable(this land you can have sheep or some type of herb garden and pigs)there is no such thing as "useless" land it is just not being used properly