NewsWhore
06-25-2007, 07:00 PM
The International Monetary Fund is saying that the increased demand for bio-fuels processed from cereals and sugars threatens to cause an increase in the cost of food, beginning with corn, wheat and soybeans. The IMF's sub-director of Analysis Charles Collyns warns that the industrialized nations see bio-fuels as a quick solution to the problem of oil dependency. Therefore, edible oils will see an increase in price. Also, the price of meat will increase as the price of grains increases. On the international level, the last year has seen a general, overall increase of 10% in food prices, according to El Caribe. Cuban leader Fidel Castro and Lester Brown of the Earth Policy Institute have warned of the pending battle between fuel and food.
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