Nebraska professor says ethanol not a “big contributor” to food price rise

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 percent of total food costs. Perrin said that 40 percent of the rise in corn prices can be attributed to ethanol, with the rest accounted for by increases in global food demand and price speculation.

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