6 Amendments of Elisabeth JEGGLE related to 2011/2056(INI)
Amendment 6 #
Draft opinion
Paragraph 2
Paragraph 2
2. Supports the analysis provided by the Commission with regard to agricultural products in the context of global food security, with diminishing global food reserves and increasing hunger, and from a market perspective, underlining the extreme price volatility in food and feed, the imperfections of the food and feed chains and the role of financial instruments and speculative behaviour as a possible cause of instability, one which must be taken seriously;
Amendment 27 #
Draft opinion
Paragraph 4
Paragraph 4
4. Reaffirms its support for a system of global emergency food reserves, under the aegis of the UN system of institutions, believes national emergency reserves should be available locally to alleviate the effects of extreme price surges and improve the supply situation and believes the EU should play a leading role in promoting this initiative; is supportive of the recent efforts undertaken by the G20 towards more information exchange in food production forecasts;
Amendment 35 #
Draft opinion
Paragraph 5
Paragraph 5
5. Reiterates its commitment to tackling extreme price volatility, given market behaviour in the case of agricultural commodities, for example by increasing agricultural productivity and adaptability to the effects of climate change; recalls the fact that the market for agricultural products is structurally volatile, with seasonality of production, climatic events and other factors that prevent producers from adapting to demand fluctuations in a short time; recalls that agriculture is a sector of strategic interest and that its functioning may not be left only to market forces; stresses that higher prices for agricultural commodities rarely result in higher incomes for farmers;
Amendment 38 #
Draft opinion
Paragraph 6
Paragraph 6
6. With regard to financial instruments, supports the recent Commission proposals on regulating OTC derivatives and on public consultation on the MiFID Directive; believes that speculative behaviour, malpractice and abuse on derivatives markets for commodities should be limitedinvestigated more thoroughly; supports in this context the measures requiring additional information that contributes to market transparency and the proposal forto study position limits, both aimed at limiting massiveserious speculative behaviour and preventing malpractice and abuse;
Amendment 41 #
Draft opinion
Paragraph 7
Paragraph 7
7. Recalls that commodity derivatives markets initially fulfilled the purpose of hedging against risk, as well as providing the possibility of raising funding from the market, both of which serve the interests of farmers; notes with concern, however, that mostany investors now have no direct link to agriculture and that the number of contracts concluded exceeds many times the global production of food, paving and calls on the Commission to examine whether this paves the way for speculative bubbles;
Amendment 46 #
Draft opinion
Paragraph 8
Paragraph 8
8. Asks the Commission to include these concerns in its strategy and to propose concrete measures to ensure food security and, tackle market instability and, with sustainable overall responsibility, reinforce the operability of the derivatives markets for agricultural commodities as a matter of urgency.