Rob Vos discusses the world food crisis, free markets, and food prices (CGTN)
CGTN produced a YouTube video, panelists discuss rising food prices, the potential global hunger crisis, top U.S. grain giants have reportedly reaped record profits, raising concerns of profiteering and speculation. Markets, Trade, and Institutions division director, Rob Vos, states, “The big A, B, C, D companies (Archer Daniels Midland, Bunge, and Cargill, the Louis-Dreyfus Group) command a lot of the grains trade in the world. The companies are privately owned so we don’t know exactly what they’re doing. We do know the way they make profits is to sell a lot at very high prices. However, it would be far-fetched to say they’re to blame for the food crisis, but we can say there is an inequity problem—while they’re making profits, others are suffering. Republished in The Global Herald.