Biofuels to keep global grain prices high - Toepfer

30 Jul 07

German grain trading house Toepfer International said that rising biofuels production will keep grain and oilseed prices high in the coming year. Annual results shows that higher prices were needed to stimulate farmers to raise global grain and oilseed production and to start cultivation on unused land. It indicates that "the demand for food and animal feed continues to rise, above all in rapidly developing countries including China and India. Hence, all market participants, especially processing companies, must prepare themselves for a long phase of relatively high prices for agricultural commodities".
http://www.signonsandiego.com/news/business/20070730-0010-grains-biofuels-prices.html

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