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New Food Prices: Fueling Food Insecurity The International Food Policy Research Institute, in Washington, D.
Sunflower oil and rapeseed oil, which are grown in the northern hemisphere, are far less efficient as biofuels.
One study estimates that, over a thirty-year horizon and taking into account these land-use changes, corn-based ethanol doubles the level of greenhouse gas emissions relative to gasoline.
In the European Union, similar concerns have prompted a shift in biodiesel policy because it was found to be contributing to the destruction of Indonesian rainforests to produce palm oil for biodiesel.
Additionally, as some crops, such as corn become more profitable to grow because of biofuel subsidies, farmers switch to planting them and reduce their plantings of other types of crops. government explains the relationship between US biofuel policy and food prices, “Reductions in U. exports of corn and other crops lead to higher, world commodity prices. S., it is easy to plant less soybeans and more corn when the price of corn doubles, as occurred recently. so we are a major contributor to the increase in vegetable oil and palm oil prices.” In Europe, sunflower oil and rapeseed oil that were previously produced for consumption are now being used as biofuels to generate “green” energy.
This lowers the market supply of the other crops and drives up overall prices. Increased demand for vegetable oils to meet this new energy need, along with increased demand from population growth, continues to drive up prices.