food

Collective solutions to the food crisis

3 February 2014 by kate Leave a Comment

How do we escape the grip of the supermarkets on our food-buying habits? How can communities gain control of the food they eat? Most of our January meeting was dedicated to a screening of the film Best Before: the London Food Revolution. The film touched on topics such as the global impact of our consumption habits, the power of supermarkets and the advantages of small-scale, organic farming.

The film depicted three projects in London which aim to point the way towards a healthier, more sustainable, and socially just food system.

After the film, we watched part of an interview with a speaker from the NGO Focus on the Global South, and then we discussed some of the questions raised by the film in small groups.

The screening was part of WDM’s broader campaigning work on the issue of food sovereignty – the concept of communities taking greater control over the food they grow and consume.

More on food speculation legislation

20 January 2014 by kate Leave a Comment

We announced last week that we’d won a victory against the practice of “food speculation” by getting the EU to legislate against it. The world of financial trading is confusing, so here’s a quick explanation of what we meant.

What’s food speculation anyway?

It means betting on the future price of food crops. This betting on prices can actually affect the price, causing more volatile global food markets and driving up prices. For some people, that means a more expensive grocery shop but for others it means not getting enough to eat.

What’s this new legislation?

The full name is the Markets in Financial Instruments (MiFID) guidelines. The rules were developed by the European Union to help establish “a safer, more open and more responsible financial system“.

What will it achieve?

It will limit the amount of “commodity derivatives” (financial instruments based on things such as crops) that can be held by investors. It will also force investors to be more transparent about their dealings, increasing public scrutiny and making it easier for campaigners like us to hold them to account if they behave badly. So: less dealing in food, more transparency about the dealing that does go on.

Sorry, what’s a commodity derivative again?

A commodity derivative is a financial contract based on the price of a resource (such as gold or coffee). The price of the resource, e.g. the price of wheat, affects the price of the commodity derivative. For many years the people who grow crops have made such contracts, but the problem arises when the link is broken between the crop, the grower and the buyer. Most people who trade in e.g. wheat derivatives will never see a sack of wheat or talk to a wheat farmer. Trading in commodity derivatives without any link to the people who buy or sell the actual commodities: it’s a recipe for market volatility and price spikes.

So what does all this mean?

This legislation will:

put a limit on how many commodity contracts you can invest in
make trading more transparent, so it’s more obvious how financial institutions are investing.

This will hopefully:

reduce abuse of the commodity market
reduce price volatility and the likelihood of spikes in the global price of basic goods such as wheat
make it harder for big players to dominate the commodities market

The market in commodity contracts will continue, but it will be better-regulated and more transparent than before.

Any questions? Please leave us a comment if so!

WDM victory on food speculation

16 January 2014 by kate Leave a Comment

We’ve been campaigning for a long time to reduce food speculation, the so-called “hunger casino” where bankers bet on food prices and make food less affordable for the world’s poorest people. Now this campaign has achieved a big victory: the EU will be introducing regulations to stop irresponsible betting on food.

The regulations aren’t perfect and we’d like them to go further. But they do two key things:

force financial traders to be more transparent about their dealings
limit the number of food contracts that can be held by banks and other financial organisations.

This means it will be much harder for traders to distort the market, pushing up global food prices and causing price spikes. That means that food will be more affordable and food prices more reliable.

And there’s another reason why it’s significant: until now, the EU had no rules on food speculation at all. The fact that it does is mainly thanks to the tireless campaigning of WDM and other groups – and your support.

If you’ve signed a petition, donated money or come to one of our events: thank you.

Whose food? Our food!

7 January 2014 by kate Leave a Comment

What’s the connection between food banks and horsemeat lasagne? Two of the biggest UK news stories of 2013 were about people not having control of their food supply. Factors such as poverty, rising food prices and complex supply chains are reducing people’s control over what they eat.

It’s time to take that control back. Whose food? Our food! is an inspiring look at alternatives to the “shut up and eat what you’re given” model. This WDM film explores both the reasons behind the current dire situation and ways in which people are reclaiming power over their food supply.

Date: Tuesday 14th January

Venue: The Long Room, Oxford Town Hall (wheelchair-accessible)

Time: 8pm

Free entry

Film on food sovereignty

11 December 2013 by kate Leave a Comment

How can communities take control of the food they produce and consume? In January we’ll be hosting a free film screening about food sovereignty, showing examples of successful food projects in several different countries. Key details:

Date: Tuesday 14th January

Venue: The Long Room, Oxford Town Hall (wheelchair-accessible)

Time: 8pm

Free entry

Sustainable Food info day

28 November 2013 by kate Leave a Comment

Oxford has just joined the Sustainable Food Cities Network and will be holding an information and discussion day on Monday 2nd December. Topics to be covered include food supply chains and reducing waste. The event is jointly organised by Low Carbon Oxford and Cultivate (not WDM). Email hannah.jacobs@lowcarbonhub.org for more details. Space is limited, so it is essential that attendees sign up in advance.

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