HAMBURG, March 20 Germany's Deutsche Bank
said on Tuesday it would not issue new investment
products in agricultural commodities this year while it
researches the impact of investment in commodities on food
In October 2011, Deutsche Bank said it would examine its
commodities trading operations to see whether they drove up the
price of basic foods after German pressure group Foodwatch
petitioned Chief Executive Josef Ackermann.
"Deutsche Bank has established a working group that is
currently looking in great detail at the causes and effects of
highly volatile, and above all, rising agricultural commodities
prices," the bank said on Tuesday in its corporate
"While the working group continues its analysis, the bank
will refrain from setting up any new exchange-traded investment
products based on basic foodstuffs this year."
"Moreover, Deutsche Bank shares the view of the G-20
countries that markets for agricultural commodities derivatives
should be made more transparent and control mechanisms
strengthened in order to prevent misconduct."
The G20 group of nations in October called for more clarity
of financial investment in food commodities.
Foodwatch has repeatedly criticised Deutsche Bank, although
the bank is not a large player in global agricultural markets,
which focus on trading food commodities such as soybeans, wheat,
corn, coffee and sugar.
(Reporting by Michael Hogan; Editing by Mark Potter)