Showing posts with label biofuels. Show all posts
Showing posts with label biofuels. Show all posts

Thursday, July 10, 2008

Biofuels and Rising Food Costs

Demand for biofuels in Europe and the United States has forced up food prices 75 percent around the world, according to a World Bank report that was leaked and published in The Guardian newspaper on Friday.

The number stands in sharp contrast to the 3 percent contribution to higher food pricing estimated by the United States Department of Agriculture.

Meanwhile, a study commissioned by food manufacturers pegs the contribution of biofuels on food prices at between 25 percent and 35 percent.

read the article