Post by Woody Williams on Aug 12, 2012 20:33:46 GMT -5
UN urges US to cut ethanol production
The UN intervention will be seized upon by state governors, lawmakers and the meat and livestock industry, who have expressed alarm at surging prices for corn. Members of the Group of 20 leading economies -- including France, India and China -- have already expressed concern about the US ethanol policy.
The US is poised to divert around 40 per cent of its corn into ethanol because of the Congress-enacted mandate despite "huge damage" to the crop because of the worst drought in at least half a century, José Graziano da Silva, director-general of the UN's Food and Agriculture Organisation, warned.
edition.cnn.com/2012/08/09/business/un-us-ethanol/index.html
