A few examples from around the world:

  • The United Kingdom’s Department for Environment, Food and Rural Affairs issued a report in March 2010 that discounted biofuels impact, stating “Available evidence suggests that biofuels had a relatively small contribution to the 2008 spike in agricultural commodity prices. Studies which have found a large biofuel impact across agricultural commodities have often considered too few variables, relied on statistical associations or made unrealistic or inconsistent assumptions.”
  • In a July 2010 report, the World Bank stated that “the effect of biofuels on food prices has not been as large as originally thought, but the use of commodities by financial investors may have been partly responsible for the 2007-08 spike.”

“It’s time for the food processing industry, which has been using higher grain prices to justify its price increases, to explain to hungry families why they have to eat less so those who can afford company stock can make more money,” Schott said. “Profiteering off world hunger needs to end, and that is what is truly immoral. If there is a ‘food versus fuel’ crisis it exists because families are being forced to decide which of the two they can afford – gasoline from Big Oil or food from companies like these. That’s something I challenge Nestle to step forward and help alleviate. They certainly can afford it.”