FAO Grains group head says Brazilian sugarcane ethanol did not impact world food prices in ‘08; US corn ethanol had impact

In Brazil, the Secretary of Intergovernmental Group on Grains at the FAO, Abdolreza Abbassian, said that rising food prices in 2008 were caused by several factors in food exporting nations, but said that the increase of sugarcane ethanol production in Brazil was not related to food price increases. Abbassian said that if US corn ethanol production were discontinued, corn prices would come down, but said record corn imports in Europe caused by drought were another cause of global shortages and price increases.

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