Are Biofuels to blame for higher food prices?
Source: Michael Knox's Economic Strategy
"Four Fed researchers Scott Baier, Mark Clements, Charles Griffiths and Jane Ihrig have recently published an insightful research piece on the interaction between biofuels, a number of major US food crops and food prices. Their paper examines the effect that biofuels production has had on commodity and global food prices. They estimate that biofuel production over the past two years has had a sizable impact on corn, sugar, barley and soybean prices but a much smaller impact on global food prices."