Pope denounces commodities speculation

Pope Benedict XVI has denounced speculation in commodities markets and has demanded a global response to high food prices based on solidarity, not profit.

In a speech Friday to delegates of the U.N. Food and Agriculture Organization, Benedict said access to food is a basic human right that must be guaranteed.

He said it’s urgent to develop economic models that aren’t just based on profit but take into account the “human dimension.”

Members of the FAO earlier this week elected a new director-general, Jose Graziano da Silva of Brazil. He takes over the FAO at a time when its mission to eradicate hunger has been complicated by near-record high food prices.