Paris, 1 September 2010

France has sent detailed proposals to the European Commission calling for common action to regulate volatile commodities markets before it is due to head the Group of 20 economic powers, ministry officials said.

President Nicolas Sarkozy said last week that regulating commodity derivatives would be one of the priorities of France's presidency of the G20 starting in November for a year.

France's economy, energy and agriculture ministers sent a letter to three European commissioners on Aug. 27 stressing that current European regulation was not enough and calling for coordinated and cross-sector EU action.

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