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G20 to consider action on food prices

Sept. 7, 2012, London, UK - The G20 Nations, said a Russian representative, will decide within the next month whether to take joint action on soaring grain prices.

According to the Chicago Tribune, Russian Deputy Agriculture Minister Ilya Shestakov said that the issue will be addressed by the middle of October at the Rapid Response Forum with other senior G20 officials.

"We are not planning any emergency measures, we want to carry out analysis, discuss possible scenarios and our joint actions to calm down the market," he said. "We will take the decision on whether joint actions are needed."

For more information on what the G20 could do to help food prices, as well as whatcould happen if no action is taken, please visit the Chicago Tribune.