Through The Static

July 5, 2008

Biofuels ‘causing food price rises’

Filed under: Economics,Food,Government,SeXiNeSS,World News — disciplepete @ 12:02 pm

Al Jazeera:

Biofuels have triggered a 75 per cent increase in world food prices, according to a leaked confidential report from the World Bank.

The report’s author, a senior economist at the bank, said that contrary to claims by the United States government, increased demand from India and China had not been the cause of rising food prices.

“Rapid income growth in developing countries has not led to large increases in global grain consumption,” the report said.

Rising food prices and the use of biofuels, which supporters claim are a greener alternative to using fossil fuel, will be discussed at a G8 summit in Japan next week.



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