UN Calls for Oversight as Crop Trading Worsens Food Crisis
- Unregulated activity is destabilizing markets, Unctad says
- Agency flags excessive speculation, shadow banking as issues
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The United Nations called for greater oversight of commodities traders, saying unregulated activity is worsening the global food crisis in the wake of Russia’s invasion of Ukraine.
Profiteering from financial activities now drives revenues in global food trading, yet commodity traders circumvent regulations by being regarded as manufacturing companies rather than financial institutions, the UN Conference on Trade and Development said in a report on Wednesday.