May 24, 2011 12:28 ET
TORONTO, CANADA--(Marketwire - May 24, 2011) - As the G20 Agriculture Ministers meet for the first time today in Paris to discuss food security, the Global Renewable Fuels Alliance (GRFA) is urging those ministers to focus on the real driver behind rising food costs – the rising price of crude oil.
High oil prices impact global food prices in many ways. Oil price spikes can increase the cost of fertilizer, inflate the cost of packaging and raise the cost of transportation. The GRFA first highlighted the direct link between food and oil prices in March and are seeing this dangerous relationship continue today.
The following graph clearly outlines the strong correlation between the price of crude oil and the UN FAO's Food Price Index.
To view the graph associated with this Press Release, please visit the following link:
"The relationship between the price of food and oil continues to be increasingly apparent – the price of oil drives the price of food," stated Bliss Baker, spokesperson for the GRFA. "That is why it is critical that the G20's agriculture ministers use this first time meeting to focus on the real cause of high food prices – the high price of crude oil," added Baker.
The Global Renewable Fuels Alliance is a non-profit organization dedicated to promoting biofuel friendly policies internationally. Alliance members represent over 65% of the global biofuels production from 44 countries. Through the development of new technologies and best practices, the Alliance members are committed to producing renewable fuels with the smallest possible footprint.
Global Renewable Fuels AllianceBliss BakerWork: (Country Code "1") 416-847-6497Mobile: firstname.lastname@example.org
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