Blaming ethanol is an effort to divert attention from soaring oil prices, which bear far more responsibility for high food costs, Dinneen said. He argues that ethanol lowers the price of gasoline and therefore has a positive effect on food prices.
Corn producers say they are wrongly accused of profiting from the crisis. “We’ve been in a situation of ‘exactly when was it that you stopped beating your wife?’” said Jon Doggett, vice president for public policy at the National Corn Growers Association. “Our members are frustrated.”
High commodity prices are not playing a significant factor in the food price spikes, he said. “We are trying to explain to folks how little corn is in a box of corn flakes.”
He also pointed to hedge funds, saying they drive up prices through speculation.
While lobbyists — and economists — disagree about the impact of ethanol, most experts seem to agree that the biggest factor in the price hikes is the rising demand for food by China, India and other countries with booming economies.
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