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My Profile Top News Reuters top ten news stories delivered to your inbox each day. 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"The Millennium Declaration aimed to halve the proportion of the world population facing poverty and undernourishment by the year 2015," the draft declaration said. "We are very far from reaching this goal, according to the alarming data provided by the relevant international bodies." The pledge to ease hunger for millions has been worsened by the financial turmoil while fears about global food security will continue because of price volatility and a tenuous balance between supply and demand, it said. "Structural factors may underpin prices over the medium term and increased volatility and demand raise important questions about food security for the future," said a G8 draft on the conclusions from the first meeting of agriculture ministers from G8 and G5 countries. It said prices have fallen for many consumers but remain well above previous lows. The depth of the economic recession means the number of poor and hungry people has increased since last year. The final version of the document will be issued on Monday and its wording may change before then, officials say. International aid agency Oxfam said the apparent lack of concrete commitments to tackle the global food crisis meant the three-day summit, held in a hillside castle in northern Italy, would go down in history as a "profound failure." "Right now, it looks like the only way this summit will make history is as another nail in the coffin of the goal to reduce world hunger," said Chris Leather, Italy-based food policy adviser at Oxfam International. Apart from the Group of Eight industrialized countries -- Canada, France, Germany, Italy, Japan, Russia, Britain and the United States -- agriculture ministers from the G5 are invited: Brazil, China, India, Mexico, South Africa. The European Commission and various U.N. agencies are also present as are ministers from Argentina, Australia and Egypt. GRAIN STOCKS, LAND-GRABBING On the idea of setting up global grain stocks, the wording is likely to be vague since many delegations, including the United States, have voiced doubts about how effective such a system would be or if it would even work, or be needed at all. "There's going to be language on real and virtual stocks," one summit delegate told Reuters. It would be "uncommitting," call for further examination of the issue, and refer to humanitarian needs and managing stocks to limit price volatility, he said. Continued... View article on single page Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: Hardliners set to win Turkish Cypriot election Also on Reuters Can Citigroup's results be sustained? IMF to cut global forecast and sees 2010 recovery Blog: Does China have what it takes to save the world? 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