G20 heavyweights ready to discuss response to soaring food prices

France, the US, and G20 president Mexico will hold a conference call at the end of August to discuss whether an emergency international meeting is required to tackle soaring grain prices caused by the worst US drought in half a century.

A French agriculture ministry official said the call would decide whether to convene the first meeting of the G20’s rapid response forum. The body was created last year to promote early discussion among decision-makers about abnormal market conditions with the aim of avoiding unilateral action.

“If the situation requires it, a meeting of the rapid response forum could be called as soon as the start of September,” the official said, adding that the forum could hold its discussions in meetings or by conference calls.