Purdue University Economists for the Farm Foundation have found that:
- The U.S. push to increase biofuels like ethanol is behind 2011 food price crisis
- The demand for corn (used as biomass to make ethanol has rocketed
- In 2005 16m acres was used to supply ethanol, whereas in 2010 it was 18.6m in the U.S.
- In 2011, U.S. ethanol refiners are using more corn than livestock and poultry farmers.
- In 2010, 27% of corn crop was used to provide ethanol compared to 10%
- In 2011 the price of corn and oats is up by 30% – 40%
- “We’re driving up food prices unnecessarily”
- “If corn prices go up, wheat goes up. It’s all linked.” – Ken Powell, chief executive of General Mills
- Soybean, and corn is in short supply globally, and even shorter in the U.S.