:. Food Industry News


Food Costs, Weak Economy Boost Anti-Ethanol Lobby

Source: Reuters
19/11/2008

Washington, 19 Nov - High food prices and tough economic times are making it easier to sell arguments against subsidies supporting the U.S. ethanol industry, a coalition of ethanol opponents said Tuesday

Daily News Alerts

But it will be an uphill battle to push for lower tariffs and tax incentives on the gas additive, made mainly from corn, admitted officials from a group of livestock producers, food companies, environmental groups and tax reform advocates.

"No one here believes that Congress or the administration are going to come up, roll up their sleeves, and say (we're) reforming ethanol in the first 100 days" after President-elect Barack Obama is sworn in, said Joel Brandenberger, president of the National Turkey Federation.

"But we think the message is getting out there and I think they're more willing to listen and respond," he said.

Under U.S. law, ethanol must be added to gasoline to reduce harmful greenhouse gas emissions and lessen dependence on oil imports.

The additive is more expensive than gasoline. To compete, the industry relies on high tariffs that curb imports as well as U.S. tax incentives worth 51 cents a gallon.

This year, U.S. drivers pumped 9 billion gallons of ethanol into their gas tanks, consuming a third of the U.S. corn crop.

That was blamed for driving up corn and other grain prices to record highs earlier this year -- a premise rejected by ethanol proponents.

Corn futures prices have plunged 35 percent from record highs seen in July, but food prices have not dropped, ethanol lobby groups said Tuesday, blaming food makers.

However, livestock groups and food makers said they are still working with supplies they bought during the price spike, and argued corn prices could rise again.

The renewable fuel mandate is set to rise to 36 billion gallons by 2022, but lawmakers want a growing proportion of the fuel additive to come from nonfood plant sources.

Obama, who represented the corn-producing heartland state of Illinois in the Senate, pledged during the presidential campaign to expand the biofuel mandate to 60 billion gallons per year by 2030.

"We believe strongly that the new administration is going to support biofuels," said Bruce Rastetter, chief executive of Hawkeye Renewables, an Iowa ethanol producer.

But if corn prices rise again, the administration and Congress could become more open to exploring ethanol reforms, said Brandenberger of the turkey producers.

Environmental advocates are now more aligned against corn-based ethanol, said Ken Cook, president of Environmental Working Group, part of the anti-ethanol coalition.

"Congress has been drunk on ethanol but there are signs of sobering up," Cook told a news conference.

The coalition released an Ipsos Reid poll showing 56 percent of Americans want ethanol subsidies reduced or eliminated, while 32 percent support the measures.

Ethanol makers, hurt by a sharp drop in gasoline prices and a glut in supply, said their industry needs tax incentives more than ever, and released a study saying the economic benefits of their industry more than pay for the subsidy.

The largest publicly traded U.S. producer, VeraSun Energy Corp, recently filed for bankruptcy protection, and the industry has warned of more consolidation.



GO   View more articles on this subject


More Alerts from 19/11/2008


Email This Article To A Colleague     Print A Copy Of This Page
 
 
 
 
FLEXNEWS - Business News for the Food Industry

About Us | Contact Us | Terms & Conditions | Privacy Policy
 
Daily News Alerts
Related Items
No Quick Resolution to Food Versus Fuel Debate
Biofuels Major Driver of Food Price Rise-World Bank
Hungry World to Get Record Wheat, Rice Crops
Biofuels Not Raising Food Prices - German Ministers
Food Makers Lobby Congress to Limit Corn Usage in Biofuels...
Europe's Food Supply Not at Risk from Biofuels - EU
France Says Food Should Take Priority over Biofuel
Soaring Food Costs Seen Linked to Rapidly Expanding...
Food Prices to Rise for Years, Biofuel Firms Say
Food Trends for 2009

More in Food Industry News
General Mills Reaffirms FY09 Guidance
China Milk Contamination Arrests Total 60
Tesco, DSG Eyed as Two-Tier UK Christmas Unfolds
Food Trends for 2009
Strong Quake Rocks Costa Rica, 3 Dead
Malaysia: Muslim Groups Call for Boycott of Coca-Cola...
EU Clears Arsenal Capital Plan to Buy DSM Unit
Yucaipa Takes Stake in Whole Foods, Shares up
Indonesia Gives 5 Food and Beverage Firms Permits to...
Emmi Buys U.S. Cheese Specialist, Shares Up 7 pct

Top Headlines
General Mills Reaffirms FY09 Guidance
China Milk Contamination Arrests Total 60
Food Trends for 2009
Rocky Mountain Chocolate Factory, Inc. Reports Third...
EU Clears Arsenal Capital Plan to Buy DSM Unit
Malaysia: Muslim Groups Call for Boycott of Coca-Cola...
Yucaipa Takes Stake in Whole Foods, Shares up
Indonesia Gives 5 Food and Beverage Firms Permits to...
Emmi Buys U.S. Cheese Specialist, Shares Up 7 pct
China's Soyoil Supply Tightens Ahead of Holidays -...
Uniq Q4 Sales Hit by Consumer Spending Slump
China Plans Production Controls for Deadly Melamine...
Kraft Canada Inc. Announces that Euro-Excellence Inc....
Dow-Rohm & Haas Deal Receives European Approval
Morrison Wins in UK "back to Basics" Xmas...
Fall in Rice Price Hurts Myanmar Exporters, Farmers
Philippine 2009 Coconut Oil Exports Seen 0.7 pct Down
Rice Prices May Rise on Tight Credit, Demand -IRRI
Campbell Soup Company Makes the Grade by Further Reducing...
EU Clears France's Diester to Buy Belgium's Oleon
Wal-Mart Dec Sales Disappoint, Cuts Forecast
In Situ Preparation of Whey Protein Micelles


 


FLEXNEWS 2008 - All rights reserved
ISSN 1950-6228