Carnivores, take note: Meat is the latest food group that is falling victim to biofuel production. At least in the U.K. That’s after reports that food like corn, tortillas, and even gummy bears have been getting the pinch.
Already hurting from bird flu, floods, and foot-and-mouth disease, the UK agricultural sector is facing a near doubling in feed costs, according to a report by consulting firm Deloitte. And although bad weather in key grain-growing areas such as Canada has pressured supplies, there has been a concurrent rise in demand, notes the BBC, some of which can be traced back to the “…biofuel industry, which uses the grain to produce ethanol for cars.”
Biofuel production is indeed helping to push up food prices and could do so by as much as 80 percent, according to the International Food Policy Research Institute, if the efficiency of current biofuel production isn’t improved upon.
The BBC points out that last week, wheat hit a record of $7.44 a bushel on the Chicago Board of Trade. With wheat costing so much, it ends up costing more to feed the animals that will one day be meat on store shelves. Who do you think will foot the bill for these rising costs? Probably not the farmers.