Biofuel Impact The European Commission's Joint Research Centre has reportedly concluded that vegetable oil prices would trend downward by 50 percent without the biofuel mandate. USDA has generally acknowledged that ethanol policy is responsible for about a third of the higher corn price, though it dismisses its effect on retail food prices where the commodity component in products is generally small, and overall grocery expenses are a small share of disposable income. However, food represents around 70 percent of restaurant costs and the chain restaurant industry has launched a "Feed Food Fairness" campaign to eliminate the Renewable Fuel Standard (RFS). Development advocates claim the same adverse impact affects the poor in developing...

TAGS – Feed Grains, Biofuels, Energy, Asia, North America