Alongside 24 other civil society organisations the Food Ethics Council urges the European Union (EU) governments and parliamentarians to use the opportunity of the review of the EU Markets in Financial Instruments Directive (MiFID) and the new respective regulation (MiFIR) to curb financial speculation in food and other commodity derivatives markets. The 25 Civil Society Organisations are calling for:
• Strict position limits to prevent speculation from driving up prices;
• Meaningful transparency, oversight and supervisory powers to ensure effective regulation; and
• A ban on harmful trading methods and financial entities from speculating in commodity markets.
To read the Civil Society position statement on financial speculation, please download the PDF file at the bottom of the page.
The Food Ethics Council recently published a discussion paper by associate Chris Sutton about commodity speculation, which you can read here.
You can also read the Food Ethics Council’s short briefing on the subject, which includes our recommendations for the UK government.