Biofuels have caused a 75 per cent increase in world food prices, a new report suggests.
According to reports last night, a confidential World Bank document indicates the true extent of the effect of biofuels on prices at a crucial time in the world\’s negotiations on biofuel policy.
The report says: "Without the increase in biofuels, global wheat and maize stocks would not have declined appreciably and price increases due to other factors would have been moderate."
Aren\’t we lucky to have those clever people in Brussels picking technological winners for us?
My word, so lucky.