‘Biofuel target will not strain food markets too heavily’

THE 10% target that the EU has set for biofuel use in its transport usage by 2020 can be met without putting a huge strain on its food markets.

Agriculture and Rural Development Commissioner Mariann Fischer Boel gave the assurance in an address to the European Grain and Oilseed Convention in Brussels.

She said analysis by the European Commission indicates that, with this target, prices for agricultural raw materials in the EU would increase by 3% to 6% for cereals, and between 5% to 18% for the major oilseeds.