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Biofuels

Corn Growers' Jon Doggett says high grain prices having minimal impact on food costs

As unrest over rising food prices grows internationally, several factors are being blamed for the increases. One reason for higher food costs: the use of grains to produce biofuels. But just how much of an impact are biofuels having on food prices? During today's OnPoint, Jon Doggett, vice president of public policy at the National Corn Growers Association, says commodities prices are having a minimal impact on the price of food. He says population growth and oil prices are contributing more significantly. Doggett also discusses how, he believes, the 2007 biofuels mandate will affect long-term food and grain costs.

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