Korean President Lee Myung-bak called for the other leaders of G20 nations Thursday to pool efforts to bring soaring grain prices under control, urging them to take such steps as scrapping export restrictions on food.
Lee issued the appeal in a letter to all G20 leaders, saying sharp rises in grain prices are a fresh risk factor that impedes its the global economic recovery, and could cause serious social problems by threatening the survival of the poor and vulnerable.
Lee proposed five steps the economic forum should take, including redoubling efforts to bolster agricultural production and productivity, modifying biofuel policies and refraining from or scrapping export restrictions, the presidential office said.
Lee also called for accelerating measures to enhance transparency and prevent market-distorting speculations, and immediately activate existing channels, such as the Agricultural Market Information System Rapid Response Forum to discuss and decide possible ways out of the crisis.(Yonhap)