U-W study: Ethanol’s impact on prices overstated

More evidence that ethanol isn’t responsible for the recent increase in food prices: a new study by T. Randall Fortenbery and Hwanil Park of the University of Wisconsin-Madison shows that ethanol production is not the driving factor behind increasing the price of corn. Increased food, alcohol and industrial demand for corn have had a greater impact than biofuels have. The report concludes that, “attempting to explain current price levels simply as a function of ethanol production is a bit naive and inaccurate.

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