FOOD PRICES MAY RISE BECAUSE OF GLOBAL BIOFUEL BOOM
July 1st, 2007
BY ANDREW CAVE BIOFUELS have generated earnest debate ever since German inventor Rudolph Diesel ran the world's first diesel engine on peanut oil back in 1894, but suddenly there is a biofuels boom that's moving global markets. World economies are in a race to find alternatives to fossil fuels and turning crops such as wheat and corn into ethanol or oilseed rape, soya, or palm oil into biodiesel is having an impact on farmers, manufacturer and industrial producers worldwide. The price of corn has doubled in the last 18 months, while wheat prices have increased by ...
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