TV News LIES

Wednesday, Jul 01st

Last update07:17:21 PM GMT

You are here News Economy We'll make a killing out of food crisis, Glencore trading boss Chris Mahoney boasts

We'll make a killing out of food crisis, Glencore trading boss Chris Mahoney boasts

E-mail Print PDF

Oxfam said companies like Glencore were "profiting from the misery and suffering of poor people who are worst hit by high and volatile food prices", adding: "If we are going to fix the ailing food system then traders must be part of the cure."


The United Nations, aid agencies and the British Government have lined up to attack the world's largest commodities trading company, Glencore, after it described the current global food crisis and soaring world prices as a "good" business opportunity.

With the US experiencing a rerun of the drought "Dust Bowl" days of the 1930s and Russia suffering a similar food crisis that could see Vladimir Putin's government banning grain exports, the senior economist of the UN's Food and Agriculture Organisation, Concepcion Calpe, told The Independent: "Private companies like Glencore are playing a game that will make them enormous profits."

Oxfam was scathing about Glencore's exploitation of volatile world food prices. Jodie Thorpe, from the aid agency's Grow Campaign, said: "Glencore's comment that 'high prices and lots of volatility and dislocation' was 'good' gives us a rare glimpse into the little-known world of companies that dominate the global food system."

Oxfam said companies like Glencore were "profiting from the misery and suffering of poor people who are worst hit by high and volatile food prices", adding: "If we are going to fix the ailing food system then traders must be part of the cure."

More...


Most Recent Related Stories...


Obama acts to extend overtime pay for millions

ObamaSalaried workers who earn nearly $1,000 per week would become eligible for overtime pay under a...

Gap closing 175 stores to be more 'vibrant'

Gap closing 175 storesGap announced Monday it will close a quarter of its stores and cut 250 corporate jobs...

Massachusetts Home Care Workers Win Fight For $15

Home care workersMassachusetts home care workers have notched the latest victory in the Fight for $15.Under an agreement...

Oregon Becomes Fourth State To Pass Law Guaranteeing Paid Sick Days

paid sick days passes in OregonOn Friday, Oregon’s state House passed a bill that would require most employers to offer five...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!