G20 to address commodity prices “volatility” in special meeting in Argentina

Monday, April 25th 2011 - 07:51 UTC

Full article 4 comments

G-20 Economy ministers will be meeting May 18/19 in Argentina to address commodity prices’ variations, according to Argentine sources. The meeting was agreed during the recent IMF/World Bank spring assemblies in Washington, following on Argentina’s deep concern about the “volatility” of commodity prices. Read full article

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geo
Is there no Spain in G20 group ??
I has 1.5 trillion $ gdp.!!
Apr 25th, 2011 - 08:43 am - Link - Report abuse 0
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Forgetit87
Except for France, Germany and Italy, Eurozone countries are represented in the G20 by the EU.
Apr 25th, 2011 - 11:46 am - Link - Report abuse 0
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Be serious
Spain is a second division EU state that will likely need a hand out in similar fashion to Greece, Ireland and Portugal.
Apr 25th, 2011 - 07:21 pm - Link - Report abuse 0
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GeoffWard
‘. . . . . . innovative tools to mitigate the volatility derived from the productive cycles of commodities’ and . . . . . . policies to increase supply of commodities from developing countries.”

OK, the commodity-producer BRICS, etc. (like Argentina) want help from the G20 to speed their supply of the commodities below. However, the sooner it is extracted the sooner it is gone.

They also want protection from price fluctuation. Particularly important for Growth Commodities where climate change and normal weather fluctuations massively affect countries with few trading products like Argentina with Beef and Soy.

The Commodities:
1. Corn, Oats, Rough Rice, Soy Beans, Rapeseed, Soybean Meal, Soybean Oil, Wheat, Cocoa, Coffee, Cotton, Sugar, Frozen Concentrated Orange juice.
2. Lean Hogs, Frozen Pork Bellies, Live Cattle, Feeder Cattle.
3. WTI Crude, Ethanol, Brent Crude, Natural Gas, Heating Oil, Gulf Coast Gasoline, Reformulated Gasoline, Propane,
4. Gold, Platinum, Silver, Palladium, Copper, Lead, Zinc, Tin, Aluminium, Al alloy, Nickel, Cobalt, Molybdenum, recycled Steel, Steel,
5. Polyethylene, Polypropylene, Wool, Palm Oil, Rubber, Ethanol
6. carbon offsets, Renewable Energy Certificates, white certificates (energy efficiency credits).

[The following (at 2008), are commodities not traded on spot markets or futures markets, so fixing an official or settlement price presents difficulty: Asphalt, Aggregate, Arsenic, Borax, Boron, Gypsum, Asbestos, Chlorine, Fluoride, Cement, Sulfuric Acid, Carbon Dioxide, Fluorspar, Bromine, Titanium Dioxide, Rare Earth Metals (group), Fresh Flowers, Cut Flowers, Melons, Lemons, Tung Oil, Gum Arabic, Pine Oil, Xanthan, Milk, Tomatoes, Grapes, Eggs, Potatoes, Figs.]
Apr 25th, 2011 - 11:33 pm - Link - Report abuse 0
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