date:Jul 26, 2012
sulting firm FarmEcon, which revealed that the use of corn for ethanol production rose by 300% between 2005 and 2011, reaching 5bn bushels, which is more than 40% of the US annual corn supply. This caused corn prices to jump to more than $6 a bushel in 2011, up from $2 in 2005, pushing up feed prices.
The study also revealed that production of corn ethanol has not resulted in a reduction of oil imports, because ethanol is not price-competitive compared to gasoline. It stated that oil imports ha