Biofuels should not be blamed for food volatility

Ministers meeting at the G20 summit have been told that rising food prices and food insecurity is not the fault of biofuel production.

G20 officials are meeting this week to declare their support for an early warning system to restrain unpredictable food prices following rapid rises thought to have put millions of people at risk of hunger.

However, the Renewable Fuels Association has claimed that blaming biofuel production for these problems is misplaced, adding that global hunger was a problem prior to the development of biofuel.

"Exorbitant oil prices, excessive speculation in commodities markets, recent weather events, and host of other issues all play more significant roles in determining the price and availability of food than does biofuel production," said Geoff Cooper, vice president for research and analysis at Renewable Fuels Association.

However, a report by the World Bank, the FAO, the International Monetary Fund and other international bodies claimed that the production of biofuels is a "significant factor" in volatility.