New Study Examines Impact of Biofuels on Agriculture July 6, 2007
According to a new study released by the Organization for Economic Cooperation and Development (OECD) and the United Nations’ Food and Agriculture Organization (FAO), biofuels will have a major impact on the global agriculture sector between 2007 and 2016. Prices for farm commodities are likely to remain at high levels for the next decade or so as demand for grains, oilseeds and sugars continue to increase.
At a press event following release of the study, an OECD official predicted farm prices, mainly grains, will rise by 20 percent to 50 percent over the next decade.
“Bioenergies have become a key factor in the functioning of agriculture markets,” said the OECD’s Loek Boonekamp. “In the medium term we believe that they could lead to prices on international markets rising quite considerably, at higher levels than what we had predicted in former outlooks and above the average of the last 10 years.” Story
- Posted in : General
- Author : freshair
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