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World to suffer corn shortage as ethanol demand increases

The Department of Agriculture predicts that the U.S., which exports 45-50 million tons of corn yearly, will instead convert 50 million tons to ethanol next year. Last year alone the country exported over 40 million tons which is enough to feed over 130 million people. Federal requirement to double ethanol availability to 7.5 billion by 2012 is cited as the major cause for this change and the current corn prices. Analysts predict increasing competition between the fuel industry, service stations, and supermarkets. Related: Rapeseed of War ... Read more →

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