The Acting Secretary of Agriculture, Chuck Conner, said ethanol is getting too much heat “for what’s happening in grocery store aisles.” Conner predicted food costs would rise between 3.5 and 4.5 percent this year, and between 3 and 4 percent in 2008. The annual average over the past 30 years is 3 percent.
Kellogg’s put through a $0.21 increase in the per-ounce price of Corn Flakes this year, prompting media outlets such as the PBS NewsHour to link the price increase to the impact of biofuels.
The 10 ounces of corn in a box of corn flakes costs $0.04 based on wholesale corn prices of $3.30 per bushel.
A release by Poet quotes U.S. Secretary of Agriculture Ed Schafer:Â "Secretary Schafer said only about 25 percent of the corn crop goes to make ethanol and that the forces driving rising prices in ...
In Nebraska, University of Nebraska-Lincoln economist Richard Perrin testified that "it's obvious that [ethanol is] not a very big contributor" to the rise in food prices, saying that grains make up 3...
In Missouri, the United Soybean Board released results from a survey in which 82 percent of consumers said that high fuel prices are to blame for food prices, not US farmers. The “National Agricultu...
Commodity analysts are predicting that 2008 prices for oil will drop, while soy and corn will continue to rise after spectacular gains in 2007.
For the year, Rick Mueller, an analyst with Energy Se...
Policymakers are gather in Rome for the FAO Food Summit over the next two days. The US agriculture secretary, Ed Schafer, and the International Monetary Fund disputed the impact of corn ethanol produc...
A new Harris poll found that 88 percent of US adults agreed that the U.S. should pursue renewable energy sources. 72 percent said that higher oil prices have had a substantial impact on food prices, c...
