OECD official urges that biofuel subsidies be scrapped

An OECD agriculture official urged on Monday that biofuel subsidies be scrapped, saying this was the quickest way to fight rising food prices.

Stefan Tangermann, agriculture director for the Organisation for Economic Cooperation and Development said: ‘I call urgently for reduced support for biofuels.

‘It is the only lever on which we can act rapidly,’ he added during an address to a farm forum in Berlin.
The OECD forecasts that food prices, in particular the cost of cereals, will remain high and that development of biofuels is responsible for around one-third of recent increases.

Forbes