Speculative trading is not behind the recent unprecedented agriculture price rises, according to Bart Chilton, commissioner at Commodity Futures Trading Commission. But as the inflationary pressure on a number of the agriculture products continues unabated, United Nations again reiterated its warning that the rising cost of food requires urgent action.

“Our economists have looked at all the data available and there doesn’t appear that any inordinate speculation has caused prices to move,” said commissioner Bart Chilton.

Chilton’s comments came as rice...