07/12/07 No Rosy Outlook for Biofuels

According to annalists the future isn't rosy for farmers growing crops for biofuels&. its red hot! A recently published study by the Organization for Economic Cooperation and Development and the United Nation's Food and Agriculture Organization predicts that grain prices will rise by 20 to 50 percent in the upcoming decade and stay high. Oilseeds and sugar are also forecasted to peak due to the growing demand for biofuels throughout the world. While Europeans predominantly use rapeseed for their Biodiesel , China ( like the US) , looks to corn to make ethanol and has already more than tripled its production last year with a record 3.5 million tons. Experts believe that the "Sleeping Giant" will exceed nine million by 2016. Globally no country comes close to the numbers Brazil posts when it comes to green fuel. They are now considered the fastest growing biofuel producer, on track to be one of the worlds' top exporter and the fact that they generated 145 percent more biofuel this year than last needs to serve as a harsh wake up call for the US.