...it is no surprise that the price of corn has doubled in the past year – from $2 to $4 a bushel. We are already seeing upward pressure on food prices as the demand for ethanol boosts the demand for corn. Until the recent ethanol boom, more than 60 percent of the annual US corn harvest was fed domestically to cattle, hogs, and chickens or used in food or beverages. Thousands of food items contain corn or corn byproducts. In Mexico, where corn is a staple food, the price of tortillas has skyrocketed because US corn has been diverted to ethanol production.
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Monday, May 21, 2007
Hidden costs of corn-based ethanol: Diverting corn from food to fuel could create unprecedented turmoil.
Actually, the costs are not so hidden. They are being paid already by the poor.
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