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More on the World Bank and food prices

Posted on August 06, 2008

By Tom PhilpottLast week, I posted about World Bank economist Don Mitchell's controversial report on biofuel and food prices. According to Mitchell's calculations, U.S. and E.U. support for biofuels accounts for 70 to 75 percent of the recent rise in global food-commodity prices -- one that could force an additional 100 million people worldwide into poverty conditions, according to the U.N. Food and Agriculture Organization. The jump in food prices has an ecological component, too. With commodity crops like corn, soy, and wheat trading at or near all-time highs, farmers are scrambling to t...

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analysis , biofuel , biofuels , china , eu , fiscal , india , policy , report , study , trading