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Grain use for bio fuel production might entail growing prices on food market – President Putin

September 08, 2012, 15:32 UTC+3
In his words, Russia has enough energy sources and land that can be used for agricultural production
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VLADIVOSTOK, September 8 (Itar-Tass) —— The use of grain and other agricultural products to make alternative types of fuel might entail the growth of prices on the global market, Russian President Vladimir Putin said on Saturday at a meeting between the APEC leaders and members of the APEC Business Advisory Council.

The Russian leader visited all the five section panels organized within the council to discuss various problems, such as finance, the development of logistics chains, regional integration, innovative growth, and food security. Each participant had an opportunity to ask a question.

“We know only too well that it is popular now to speak about alternative types of fuel, including bio fuel. The more grain and other cultures are produced for bio fuel, the less comes to the food market. Lands are used for other purposes, hence the global market shrinks and prices go up,” Putin said. In his words, Russia has enough energy sources and land that can be used for agricultural production. “We have a liberalized agricultural market,” he noted.

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