WATCHING THE WORLD: Food costs fuel concern

We never imagined-never for a minute-that Chinese officials would react so swiftly to our comment last week about the increasing use of biofuels and the upward pressure that puts on food costs, particularly grains (OGJ, Dec. 11, 2006, p. 32). But react they did-and very swiftly, too.On Dec. 12, Zhu Zhigang, China’s vice-minister of finance, assured the public of sufficient food supplies amid concerns over the rising cost of food resulting from the use of grains like corn in the development of biofuel.Zhu made the comments in the face of rising costs for grain-particularly for corn as the main raw material for ethanol used as vehicle fuel. Zhu said biofuel can be developed only if Ch...

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