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Friday, July 20, 2012

Biofuels blamed for high food prices


17 July 2012

Nestle blames biofuels for high food prices

By James Melik
Reporter, Business Daily, BBC World Service




The head of the world's largest food producer believes high prices are due to the growing of crops for biofuels.

"The time of cheap food prices is over," says Nestle chairman Peter Brabeck-Letmathe.

He is highly critical of the rise in the production of bio-diesel, saying this puts pressure on food supplies by using land and water that would otherwise be used to grow crops for human or animal consumption.

"If no food was used for fuel, the prices would come down again - that is very clear," he says.

"We are now in a new world with a completely different level of food prices because of the direct link with fuel," he says.

He says biofuels are only affordable because of the high subsidies they receive, particularly in the US.

"It is absolutely unacceptable and cannot be justified," he says.

"There is one demand that I have, and that is not to use food for fuel." (...)

http://www.bbc.co.uk/news/business-18858444

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