The Agricultural Market Information System was established in 2011 at the request of the G20 in response to worldwide price fluctuations in basic foods.
Large fluctuations in the price of basic foods on world markets have shown that there are weaknesses both in market information systems and in co-ordination of reactions to market developments. It was obvious that there was a shortage of reliable and up-to-date information on agricultural production, its use, stocks and quantities available for export.
The creation of a global and open information system for agricultural markets was investigated as a means of tackling price volatility and alleviating the consequences. This system monitors the most important developments in world markets and reports unusual events as well as improving data quality, market analysis and national and international forecasts.
AMIS is also intended to be a forum for greater co-ordination of strategic reactions to price volatility. It is not a new international organisation, but a platform for co-operation among the various actors to exploit synergies with an eye to greater reliability, timeliness and frequency of data. AMIS also aims to improve the ability of developing countries to analyse market prospects and to promote strategic dialogue.
AMIS is currently focused on four basic foods: maize, rice, soybean and wheat.
It is administered by a secretariat provided by the FAO and funded by nine international organisations (FAO, IFAD, OECD, UNCTAD, WFP, World Bank, WTO, IFPRI and High-Level Task Force on the Global Food Security Crisis).