Financial Times FT.com

Food prices to rise as biofuel demand grows

By Kevin Morrisonin Arlington, Virginia

Published: March 5 2007 02:00 | Last updated: March 5 2007 02:00

Consumers will have to pay more for food in coming years as demand from biofuel manufacturers has pushed up the prices of corn and other grains for the long term, a senior economist of the US government has warned.

Keith Collins, chief economist at the US department of agriculture, also said grain prices could be very volatile this year because of low global grain stockpiles.

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