G-20 Agricultural Market Information System Convenes in Rome

When global food prices rise, sound and coordinated policy responses from governments make the difference between exacerbating price volatility and developing effective strategies in the face of market uncertainty.

To help equip policymakers with better information on market conditions that could lead to price spikes, the G-20 developed the Agricultural Market Information System (AMIS), which aims to enhance agricultural market transparency and strengthen collaboration and dialogue among main producing, exporting and importing countries. AMIS, which first convened in September 2011, monitors prices and the supply and demand situation for four commodities (maize, wheat, rice and soybeans) in 23 countries that represent the most significant producers and exporters of those commodities.

From October 1-4, 2012, AMIS met in Rome for the second meeting of the Global Food Market Information Group, featuring a roundtable discussion with representatives of the private sector; a focused discussion with country focal points on the AMIS work plan; and a workshop to review the status of the AMIS database.

AMIS members have been closely monitoring the impacts of the drought in the United States on global commodity prices. After consultations with other AMIS members during the meeting in Rome, the G-20 AMIS representatives concurred that agricultural commodity markets are functioning, and a meeting of the G-20 Rapid Response Forum is not necessary at this time.

Joe Glauber, chief economist at the U.S. Department of Agriculture, has assumed the chair of AMIS for the next year.

Read Feed the Future’s fact sheet on global food prices.