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Economists sign letter against food commodity speculation

A group of 461 economists from around the world has called for the G20 countries to take action against “excessive” speculation on food commodities, Oxfam America said today.

The letter was sent to the members of the Commodity Futures Trading Commission, Treasury Secretary Tim Geithner, and the finance ministers of the other G20 countries in anticipation of a meeting of the finance ministers in Paris this week and the upcoming meeting of the G20 leaders in Cannes, France, Nov. 3-4.

France holds the presidency of the G20.