The Damaging Links Between Food, Fuel and Finance: A Growing Threat to Food Security
By Timothy Wise, Director of the Research and Policy Program at the Global Development and Environment Institute, Tufts University. Cross posted from Triple Crisis
Just when you thought the unhealthy ties between food, fuel, and financial markets couldn’t get more perverse, we get the announcement that Vitol, the world’s largest independent oil trader, is entering the grain-trading business, hiring a team from Viterra, based in Toronto, to run the show. And lest we toss this off as just another corporate deal, Javier Blas in the Financial Times reminds us that Viterra has itself recently been bought by Glencore, perhaps the world’s greatest global commodity speculator.
What could go wrong?
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