AG Economist: Look to Long-term Sustainability to Solve Food Crisis May 9, 2008
When it comes to a food crisis, history has taught the world a thing or two. One is what we don’t learn tends to repeat. And this current lesson might be the most challenging one we’ve ever faced, says an Ohio State University agricultural economist. Luther Tweeten, professor emeritus of agricultural trade and policy in the Department of Agricultural, Environmental, and Development Economics, has seen the world struggle through two previous food crises: one in the 1960s, culminating with the famous Green Revolution, and one in the early 1970s, triggered by crop failure and frenzy in international markets. But the …
Fuel Prices Are at Record Highs, So Why Are Ethanol Producers Struggling? May 8, 2008
Politicians blame speculators, and speculators blame the Federal Reserve. Free-traders blame countries with agricultural subsidies, and countries with agricultural subsidies blame free-traders. And everyone blames the ethanol industry. But judging by recent financial results, the big villains in this story—aren’t exactly thriving. In fact, their bottom lines and stock prices are suffering pretty badly. Story
Hearings on Fuel Subsidies: Is There an Impact on Food Supply and Prices?
Congress could eliminate the three-legged stool built to support ethanol production — the blenders’ credit, the import tariff and the renewable fuels standard — and there would be little impact on the price of grain corn or slowdown in ethanol production as long as record-high oil prices continue, an Iowa State University professor [Bruce Babcock] told lawmakers Wednesday.” Testimonies
Corn Country Senators Defend Ethanol
Senators Tim Johnson (D-SD) and Chuck Grassley (R-IA) on Wednesday stepped up their recent defense of the embattled ethanol industry by urging EPA Administrator Stephen Johnson not to roll back the Renewable Fuel Standard, part of last year’s energy bill.
In their letter to EPA Administrator Johnson, Senators Grassley and Johnson said “We’re writing to express our strong opposition to any request to partially or completely waive the Renewable Fuels Standard. We strongly disagree with the assumption that the renewable fuels mandate is harming the U.S. economy or that its primarily responsible for the global escalation of food costs.
Senator Johnson said he …
Energy Development and Diversity is a National Security Issue! May 7, 2008
Robert McFarlane’s column in today’s Wall Street Journal, “Don’t Give Up on Energy Independence,” hits all the high points and even provides “four policy measures” to alleviate our vulnerability and dependence on foreign oil.
Ancient Grains Getting More Use and Attention
The number of new food products featuring ancient grains has doubled since 2004, per the Datamonitor Productscan Online database.
Datamonitor found that approximately 515 new products were introduced in 2007 worldwide, nearly doubling the 257 products released in 2005. In 2004, the company said only 112 new products were released containing ancient grains, such as quinoa, spelt, kamut, amaranth and chia.
The company cited consumer concern with eating overly processed foods as a reason for the increase, noting that in 2006, 63% of Americans and 58% of Europeans said they felt it was either “important” or “very important” to reduce processed food …
Cutting Ethanol Production Would Increase Gasoline Prices from $3.65 to $4.79 per Gallon
By Matt Hartwig, Renewable Fuels Association
Blending More Ethanol Keeps Gas Prices Down, According to Experts. In testimony before Congress, the Renewable Fuels Association (RFA) today identified the growth of ethanol production as a major factor in keeping gasoline prices lower than they otherwise would be.In testimony before the Subcommittee on Energy and Air Quality of the Committee on Energy and Commerce, RFA President Bob Dinneen noted the positive impact ethanol is having on prices at the pump and pointed out that: “Removing 4.5 billion gallons of ethanol from the market, as envisioned by [Texas] Governor Perry’s [Renewable Fuels Standard] …
Global Ag Supply and Demand: Factors Contributing to the Recent Increase in Food Commodity Prices May 6, 2008
A new report highlights contributing factors to the incrase in food commodity prices.
EU Ag Chief: Biofuels a Scapegoat for Higher Food Costs
Biofuels are being used as a “scapegoat” to explain a sudden rise in food costs, European Commissioner for Agriculture and Rural Development Mariann Fischer Boel said Tuesday.
“Cereal prices have halved in real terms since 1975, but right now they are
climbing, and people are worried,” said Fischer Boel.
“The storm of media comment about (biofuels) has become louder and louder, to
the point where it’s now difficult to hear real debate above the shriek of the
wind,” added the commissioner. Full Story
USDA Economist Predicts Food Prices Will Ease Next Year May 5, 2008
USDA Chief Economist Joseph Glauber told the Joint Economic Committee last week that he expects soaring food prices to moderate in about a year, barring weather catastrophes. Glauber attributed the 4 percent increase in the Consumer Price Index for food in 2007 to rising energy costs, international export restrictions, weather and new product markets, especially biofuels. While some committee members and witnesses suggested that federal ethanol requirements are contributing to the problem, National Farmers Union President Tom Buis said the “real culprit” is the cost of energy. Sen. Sam Brownback, R-Kan., said the federal government should not “exacerbate the …
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