G20 Scientists Discuss Global Food Security

G20 Scientists Discuss Global Food Security
TT

G20 Scientists Discuss Global Food Security

G20 Scientists Discuss Global Food Security

Sustainable agriculture and global food security topped discussions during the 9th meeting of the Agricultural Chief Scientists of the G20, which was attended by guest countries and international organizations to adopt a communique that will be delivered to ministers of agriculture.

The meeting took place in Saudi Arabia's Khobar, during which delegates expressed their intention to boost cooperation in sustainable agricultural productivity and global food security.

Global issues were highlighted, such as the importance of sustainable agriculture development in drylands, promoting agricultural productivity through cutting-edge technologies, and the link between water, energy and food.

The delegates emphasized the role of science in developing affordable and cutting-edge agricultural technologies to improve agri-food systems and address global food security. And further stressed the importance of agriculture in drylands for livelihoods and for global food security, and encouraged ministers to agree on a way forward to develop this.

The attendees noted the need for developing and implementing new agricultural technologies in cooperation with farmers. Adding that it was important for public-sector policy and investment to ensure equitable use of innovative agricultural technologies.

Regarding the global demands on water and energy to meet food production needs, the group agreed on approaching a better understanding of the interdependence of these elements. This is critical for developing policies that enable resources to be used efficiently, to improve livelihoods, ensure food security and optimize sustainable economic benefits



Gold Eases as Traders Wait for US Economic Data

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. Reuters
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. Reuters
TT

Gold Eases as Traders Wait for US Economic Data

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. Reuters
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. Reuters

Gold prices eased on Tuesday, while investors awaited a slew of US economic data to gauge the size of the Federal Reserve's expected interest rate cut this month.
Spot gold fell 0.2% at $2,495.50 per ounce by 0630 GMT. Prices hit a record high of $2,531.60 on Aug. 20.
US gold futures steadied at $2,527.50.
The dollar lingered near a two-week high, making bullion less appealing for other currency holders.
"Gold is unable to recapture levels around all-time highs due to lack of fresh positive catalysts. If we see U.S. data pointing to a weak economy and the Fed taking to the narrative of having a jumbo rate cut, gold will rally," said Kelvin Wong, OANDA's senior market analyst for Asia Pacific.
"Prices could go as high as $2,640 this year."
Market focus is on Friday's US August non-farm payrolls report. Economists surveyed by Reuters expect the addition of 165,000 US jobs.
ISM surveys, JOLTS job openings and ADP employment report are also on investors' radar.
Traders currently see a 31% chance of a 50-basis-point rate cut at the Fed's Sept. 17-18 policy meet and a 69% chance of a quarter-point cut.
Last week, data showed US consumer spending picked up in July, arguing against a 50-bp rate cut.
Gold "remains our preferred hedge against geopolitical and financial risks, with additional support from imminent Fed rate cuts and ongoing emerging market central bank buying. We open a long gold trade recommendation," Goldman Sachs said.
Bullion is considered a safe asset amid turmoil and tends to thrive in a low rate environment.
Spot gold may test support at $2,473, a break below that could open the way towards $2,434, according to Reuters technical analyst Wang Tao.
Spot silver dipped 0.5% to $28.35, platinum fell 1% to $921.05 and palladium lost 1% to $968.62.