Unilever: 'food speculation long-term threat'

16th January 2011, Comments 0 comments


Speculation is pushing up food prices and threatening society's long-term interests, Unilever head Paul Polman has told the European Commission.

In an interview with the British newspaper , Mr Polman says he told the EC that speculation is harming ordinary people and short-term profits are threatening society's long-term interests. He has urged the EC to force speculators to disclose their stakes.

Mr Polman also called on the EU to scrap its farm subsidies, which make it harder for farmers in poor countries to compete. He also urged the EU to stimulate sustainable farming to increase production.

Mr Polman wants Unilever to attract more investors interested in sustainability and discourage those seeking  short-term gains, such as hedge funds. The company has therefore stopped publishing quarterly results.

© Radio Netherlands Worldwide

© Radio Netherlands Worldwide

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