Biofuels pushed food prices up 75 percent, report says

Secret report says EU, U.S. drive for biofuels pushed food prices up 75 percent, contradicting U.S. assertion that plant-derived fuels contribute less than 3 percent to food-price rises. Biofuels affected prices by diverting grain from food, encouraging farmers to set land aside for biofuel production and by sparking financial speculation in grains.

By Aditya Chakrabortty

The Guardian (UK) 2008-07-04

Categories: HEALTH & NUTRITION, Hunger & Food Security, Lobbying & Special Interests, POLITICS

Index: biofuels, corn-based ethanol, David King, Don Mitchell, food basket, food crisis, food price crisis, food prices, G8, Gallagher Report, greenhouse gases, Hokkaido, imported oil, Japan, Oxfam, Robert Bailey, World Bank