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Ohio Corn Growers Say Food Prices Not Their Fault
12-04-2008
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Ohio corn growers say if you want to blame someone for high food prices, blame food producers, not farmers.
A story from the AP says, the Ohio Corn Growers Association fired back Monday against livestock groups, restaurants and corporate food companies that are urging President-elect Barack Obama to eliminate nearly $5 billion in annual subsidies for the ethanol industry. The food producers say demand for corn to make ethanol is driving up prices on commodity markets and at the supermarket.
But growers association director Dwayne Siekman says corn futures went from a peak of $7.88 this past June to $3.85 in mid-November while food prices have continued to climb. He says major food companies such as General Mills Inc. and Kraft Foods Inc. are making big profits.
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