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World Bank: Biofuels major driver of food price rise
Source : reuters.com
Large increases in biofuels production in the United States and Europe are the main reason behind the steep rise in global food prices, a top World Bank economist said in research published on Monday. World Bank economist Don Mitchell concluded that biofuels and related low grain inventories, speculative activity, and food export bans pushed prices up by 70% to 75%. The remaining price rise reflected a weaker U.S. dollar, higher energy costs and related rises in fertilizer and transport costs, he wrote. An unfinished version of the research that surfaced in news stories sparked a heated debate earlier in July, with trade groups for the ethanol industry calling the 75 percent figure "a stretch" and others saying it confirmed the dangers of current biofuels policies.
read more ...
18 August 2008 |
Economy ::
Agriculture ::
International
The information in this section is subject to a disclaimer.
Articles on the topic of agriculture (150 articles)
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