Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-01-18-Speech-2-348-000"
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"en.20110118.14.2-348-000"2
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"On the whole, this report is a fairly worthwhile contribution to the debate on the role of agriculture in food supply. Parliament has rightly identified the problems which farmers have to contend with in times of extreme market and price volatility and drawn attention to the difficulties which farmers are currently going through in this respect. The Commission must come up with tough and lasting measures to address volatility in the agricultural markets. That is crucial to maintaining production in the EU. The huge price increases in the financial markets for agricultural commodities have largely been caused by speculation. Speculative behaviour accounts for almost 50% of recent price increases.
It is good that the European Parliament has supported the conclusions of the United Nations Special Rapporteur on the Right to Food concerning the disastrous role of large institutional investors such as hedge funds, pension funds and investment banks, because they affect the price indices of raw materials, through their activities on the derivatives markets. Parliament has produced a generally sound analysis of the situation, but has then totally missed the mark by failing to formulate pertinent observations on the role of GMOs in agriculture in the report. This debate is being conducted elsewhere and does not belong here, which is why I have ultimately voted against the report."@en1
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