UN Calls on U.S. to Reduce Ethanol Production, FT Reports
The United Nations called for a suspension of U.S. government-mandated ethanol output amid surging corn prices, the Financial Times reported.
The U.S. will use about 40 percent of its corn for ethanol production because of the Congress-enacted mandate despite “huge damage” to the crop from the worst drought in at least half a century, the newspaper reported, citing Jose Graziano da Silva, director-general of the UN’s Food & Agriculture Organization.
An immediate, temporary suspension of the ethanol mandate would allow more of the crop to be channeled toward food and feed uses, the FT cited Graziano da Silva as saying.
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