Food prices to fall significantly if biofuel is banned: IFPRI
Prices of key food crops will fall significantly if the global community imposes a ban on crop-based production of biofuel, one of the key factors of recent food price increase, says a Washington-based research group. The price of maize will drop by 20 per cent, cassava by 14 per cent, sugar by 11 per cent and wheat by 11 per cent by 2010 in case of such moratoriums.