The production of biofuels has driven up food prices 75 per cent, according to an unpublished World Bank report obtained by the Guardian. In an article published Friday, the British daily cites a confidential report authored by Don Mitchell, a senior economist at the bank. The newspaper suggests the report has not been released so as not to embarrass U.S. President George Bush, whose government had suggested biofuels accounted for a three per cent increase in food prices. "Without the increase in biofuels, global wheat and maize stocks would not have declined appreciably and price increases due to other factors would have been moderate," the report said, according to the Guardian. The report also said changing diets in developing countries and a drought in Australia were not significant factors in driving up the price of food...
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