Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-16-Speech-3-417-000"

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"en.20110216.15.3-417-000"2
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"Madam President, if we are to have a genuinely serious discussion about rising food prices, we cannot avoid the issue of how the European Union is itself contributing to this unwelcome trend, however uncomfortable that may be for some. All commodities market analysts agree that there are two main factors behind the rise in food commodity prices. The first is the large-scale printing of new money in the USA and the European Union in recent months. This influx of new money into the markets is pushing the price of food and other commodities upwards. It is not speculators that are to blame here, as the report under discussion today asserts, but rather the misguided policies of American, European and other central banks. The second factor pushing up food prices is the EU and US policy of forcing consumers to make ever greater use of biofuels. The commitments that the EU and the US have assumed in this area have led to a sharp increase in the amount of non-food commodities grown on agricultural land. As a result, less and less agricultural land is used for food production, and it is therefore only logical that food prices increase. If we want to succeed in lowering global food prices, we must abandon this absurd policy on biofuels."@en1
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