Renewable Fuels Standard Takes International Heat Once Again

To avoid a food crisis – the three U.N. food agencies have urged governments to take action to curb rising prices of corn, wheat and soybeans. The heads of the U.N. World Food Program, Food and Agriculture Organization and International Fund for Agriculture Development warn that the sharp rise in food prices in recent months threatens to make life more difficult for tens of millions of people. The next global food price index from the FAO is expected today (Thursday). The last report showed global prices – after three months of decline – had increased six-percent in July. This was due in part to the U.S. drought and the impact of dry weather on Russia’s wheat harvest. Among other things – the U.N. food agencies suggested countries should adjust biofuel production requirements when food supplies become scarce.