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2007-01-15 | permalink
Biofuels boom pinches the world’s poorest
America’s appetite for fuel ethanol could take food away from some of the world’s poorest people. The price of corn and other crops is soaring because of the demand for grain to make ethanol, a gasoline additive, and that means the government’s budget won’t buy as much food as it used to. The price of corn alone, a key food in Africa, has more than doubled in the past year. [...] News of greater demand in corn yields boosted corn prices to their highest level in ten years Friday. Wilmington-based DuPont, the largest U.S. corn seed producer, and its St. Louis-based competitor, Monsanto Co., which produces genetically modified seeds, are expected to benefit. Last year, Delaware farmers produced 6 percent more corn, or 23.3 million bushels, than in 2005.
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2007-01-15 | permalink
Biofuels boom pinches the world’s poorest
America’s appetite for fuel ethanol could take food away from some of the world’s poorest people. The price of corn and other crops is soaring because of the demand for grain to make ethanol, a gasoline additive, and that means the government’s budget won’t buy as much food as it used to. The price of corn alone, a key food in Africa, has more than doubled in the past year. [...] News of greater demand in corn yields boosted corn prices to their highest level in ten years Friday. Wilmington-based DuPont, the largest U.S. corn seed producer, and its St. Louis-based competitor, Monsanto Co., which produces genetically modified seeds, are expected to benefit. Last year, Delaware farmers produced 6 percent more corn, or 23.3 million bushels, than in 2005.
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