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Corn Prices Rise Worldwide Due to U.S. Ethanol Policy, FAO Says

The use of corn to make ethanol in the U.S. is helping to lift the grain price worldwide, said Jose Graziano da Silva, the new director general of the United Nations’ Food and Agriculture Organization.

“FAO has been raising its voice against using food to produce bio energy,” Graziano da Silva told 64 agriculture ministers in Berlin yesterday. That’s “especially” the case for corn in the U.S. and oilseeds in Europe, he said.