TV News LIES

Tuesday, Mar 31st

Last update01:34:25 AM 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...


Feds aim to protect low-income users of ‘payday’ loans

payday loansEach month, more than 200,000 needy U.S. households take out what’s advertised as a brief loan.Many...

AIG investors' $970.5 million settlement wins U.S. court approval

AIG settlementAmerican International Group Inc (AIG.N) shareholders won approval on Friday of a $970.5 million settlement resolving...

Exposing America's Billionaire Welfare Ranchers

billionaire welfare ranchersAmericans love ranchers: Gritty ranchers, mom-and-pop ranchers, renegade ranchers — especially those who raise livestock on...

$10 Million Subsidy Allows Time Inc. To Cut Over 900 Jobs With No Penalty

Time, Inc.Despite being given a $10 million job-creation subsidy by New York State, Time Inc. will still...
 
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!