Petition

Restrict food speculation: Feed people not banks!

istock.com valio84sl/blackred [Montage: foodwatch]

Investors make profits while families from Ethiopia to Yemen can no longer afford basic foods. Financial gamblers shamelessly exploit the war in Ukraine: They speculate on wheat, maize and rice - driving prices even higher. Shortly before the G20 summit in Bali, foodwatch calls on the G20 Heads of States: No one should make profits that fuel hunger! We demand an end to excessive speculation now!

Petition

Restrict food speculation: Feed people not banks!

istock.com valio84sl/blackred [Montage: foodwatch]

Investors make profits while families from Ethiopia to Yemen can no longer afford basic foods. Financial gamblers shamelessly exploit the war in Ukraine: They speculate on wheat, maize and rice - driving prices even higher. Shortly before the G20 summit in Bali, foodwatch calls on the G20 Heads of States: No one should make profits that fuel hunger! We demand an end to excessive speculation now!

Ladies and Gentlemen,

Prices for basic foodstuffs are at an all-time high - bets on the financial markets drive them further up. The following measures can save millions of people from hunger: 

  • Strongly limit the amount of food commodity futures: Lower position limits for these contracts to curb excessive speculation!
  • Exclude institutional investors and mutual funds from the food commodities business.
  • Increase transparency in the markets: Investors and commodity groups must disclose their holdings to prevent panic in the markets. 

Calling on you: Prevent even more hunger and put an end to excessive speculation with food! Food is not a commodity, but a human right!

Your first name & surname, place and comment, if given (will be completed automatically)

  • Charles Michel, President of the European Council
  • Ursula von der Leyen, President of the European Commission
  • Olaf Scholz, Chancellor of the Federal Republic of Germany
  • Emmanuel Macron, President of the French Republic
  • Karl Nehammer, Federal Chancellor of the Republic of Austria
  • Dick Schoof, Prime Minister of the Netherlands

  • European Committee on Economic and Monetary Affairs

A joint action of:

foodwatch started the petition on 20.06.2022.

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