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Price volatility in agricultural commodity markets has received a lot of attention in the past year. (For more information on food price volatility, see the Excessive Food Price Variability Early Warning System .) As part of the 2011 G20 Action Plan , the Agriculture Ministers agreed on several initiatives to address high food prices and price volatility. The Rapid Response Forum is a part of the larger Agricultural Market Information System (AMIS) initiative and is designed to promote timely discussion among global policymakers of abnormal agricultural market conditions.

The 2011 Horn of Africa food crisis reinforced the need for governments and international organizations to be able to react quickly to ongoing humanitarian crises such as drought and famine. In particular, emergency food supplies are critical to mitigate the effects of negative weather events and price shocks. Such supplies must be maintained and used effectively, however, to prevent further disruption and volatility in both global and local food markets.

Negative weather events and climate change present an ongoing global challenge for agricultural production and food security, particularly for the poor in developing countries. Unforeseen weather events and changing agricultural conditions can lead to decreased agricultural productivity, increased and volatile food prices, and food insecurity and malnutrition. Being able to track environmental conditions and better predict harvest levels would give policymakers the ability to prepare for potential food shortages.

Research into more productive varieties of staple crops is an important part of agricultural R&D. Agricultural conditions can vary greatly among regions, countries, and even micro-regions; thus, seeds that produce well in one area may not be as productive in another. And with climate change posing even greater agricultural challenges for poor producers, this research is even more critical.

The 2012 G20 Summit recognizes the importance of and interlinkages between issues such as economic stability, sustainable growth, climate change, and food security. In order to address these challenges in the face of a growing global population, G20 leaders have worked closely with leading international institutions, including the FAO, IFAD, WFP, and IFPRI, to further the action plans established at the 2011 Summit and address additional steps to ensure sustainable global growth and development. The priorities of the Mexican G20 Presidency encompass: