Volatile commodities that directly affect global prices will be one of the key topics to be discussed by leaders of emerging nations comprised of Brazil, Russia, India, China, and South Africa at the start of the BRICS summit in Hainan, China

World leaders said in a draft communiqué issued to the media stated that rising prices for commodities is a threat to global growth.

"Excessive volatility in commodity prices, particularly those for food and energy, poses new risks for the ongoing recovery of the world economy," the leaders said, according to a draft copy of the communique. "The international community should work together to increase production capacity."

Bloomberg news reported that Chinese President Hu Jintao and the other BRICS leaders also called for "more attention to the risks of massive cross- border capital flows."

Mr Hu also urged the International Monetary Fund to continue to look and overhaul the role of Special Drawing Rights as an international reserve currency system.

Hu is joined at the Sanya summit by Russian President Dmitry Medvedev, Brazilian President Dilma Rousseff, South African President Jacob Zuma and Indian Prime Minister Manmohan Singh.

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