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Record price for maize on world market

22-01-2007 | |

Maize prices on the world market have reached the highest level in ten years’ time, according to the Dutch press agency ANP.

Decreasing US stocks, coupled with a large demand from
China have doubled future contracts prices in ten years’ time for more than $4
per unit. Prices rose even further when crop predictions for next season were
said to be dropping. Having about 40% of world production, the US seem to play a
key role in world market price for maize. About 20% of this production is
processed for producing bio-ethanol – compared to about 6% back in 2000. It is
thought that in the future even more maize will be used for
biofuels.

More bio-ethanol facilities
Six years ago, the US
counted 54 factories, producing altogether 7.6 billion litres of bio-ethanol. At
the moment about 100 factories produce over 19 billion litres and more factories
will be built.

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