Financial Times FT.com

The global food crisis

UN says oil rise hits food prices harder

By Javier Blas in London

Published: April 26 2008 02:53 | Last updated: April 26 2008 02:53

Biofuels are viewed by many as the main culprit in the food crisis, but agriculture experts say that other factors, ranging from higher demand in China to a slowdown in farming productivity growth, have greater influence on prices.

The United Nations’ Food and Agriculture Organisation estimates biofuels have contributed to about 10 per cent of the current price rise. It argues that the surge of oil prices – through costlier fertilizer and diesel – is having a greater impact on food prices.

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