Saturday, August 25, 2012
No human suffering too great to prevent profits.
With drought causing crop troubles around the world, those who trade in food stuffs are licking their lips in anticipation of making a killing, beyond those who will starve. The Independent of England reports on the humanitarian concern of one CEO in the trade.
Isn't that last quote a damning one? And Glencore is not the only company thinking that way.
The United Nations, aid agencies and the British Government have lined up to attack the world's largest commodities trading company, Glencore, after it described the current global food crisis and soaring world prices as a "good" business opportunity.
With the US experiencing a rerun of the drought "Dust Bowl" days of the 1930s and Russia suffering a similar food crisis that could see Vladimir Putin's government banning grain exports, the senior economist of the UN's Food and Agriculture Organisation, Concepcion Calpe, told The Independent: "Private companies like Glencore are playing a game that will make them enormous profits."
Ms Calpe said leading international politicians and banks expecting Glencore to back away from trading in potential starvation and hunger in developing nations for "ethical reasons" would be disappointed.
"This won't happen," she said.
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