Proposals to create an international network of food stocks are unlikely to get backing from Group of 20 agriculture ministers this week, the president of the World Bank said June 21.
Robert B. Zoellick told reporters on a conference call he thought the issue of a stocks network was probably "not the best policy" and that would "have a hard time through the international politics" of the G20.
He also warned the policy could concern farmers who fear "that it would be used to control prices with releases."
Officials are convening in Paris Wednesday and Thursday to wrangle a deal on how to address unprecedented volatility in food prices. Proposals include improving transparency in futures markets, building a network of stocks to damp price swings and creating an international supply and demand database.
France, which has the presidency of the G20 this year, has been pushing hard to address the issue of food security after prices surged to record highs in February, the second price spike in four years.
But countries like the U.S. have opposed the creation of creating regional food caches for emergency use--one step suggested for G20 countries' to consider for alleviating hunger. Russia is also said to be against controls on government intervention in markets, such as export bans.