FarmPolicy

April 24, 2014

Inflation, Biofuels and Commodity Prices

Categories: Audio /Ethanol /EU /Food Prices

Reuters writers Richard Valdmanis and Timothy Gardner reported on Tuesday that, “A backlash against biofuels that are widely blamed for contributing to a staggering spike in global food prices could have the unintended consequence of intensifying a rally in the cost of energy.

“Biofuels use has surged among countries seeking ways to reduce costly petroleum imports. But the redirection of food into vehicle tanks instead of grocery stores has triggered a pushback, particularly against U.S. corn-based ethanol.”

(more…)