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The World Development Movement (WDM) has said proposals to establish three new European banking regulators could help prevent food crises, as wheat price rises fuelled by financial speculation trigger bread riots in Mozambique. WDM has been pushing for urgent action to prevent banks and hedge funds engaging in excessive speculation in food derivatives markets, which drove the 2006-2008 food price crisis [1] and is fuelling the recent wheat price spike. Wheat prices have rocketed nearly 70% since January, causing riots in Mozambique this week in which seven people have died.