04-29-2008, 11:53 AM
<b>US, EU responsible for 'explosive' food prices: UN official</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Jean Ziegler held fuel policies pursued by the US and the EU to be main causes for the current worldwide food crisis.
Last year the <b>US used a third of its corn crop to create bio-fuels, while the European Union is planning to have 10 per cent of its need supplied by bio-fuels</b>, he said and called for a for a five-year moratorium on the production of bio-fuels.
Ziegler also said that speculation on international markets was behind 30 per cent increase in food prices. Besides, hedge funds are also making huge profits from raw materials markets and called for new financial regulations to prevent such speculation.
The Special Reporter, in a press conference, warned of worsening food riots and a "horrifying" increase in deaths by starvation<!--QuoteEnd--><!--QuoteEEnd-->
Last year the <b>US used a third of its corn crop to create bio-fuels, while the European Union is planning to have 10 per cent of its need supplied by bio-fuels</b>, he said and called for a for a five-year moratorium on the production of bio-fuels.
Ziegler also said that speculation on international markets was behind 30 per cent increase in food prices. Besides, hedge funds are also making huge profits from raw materials markets and called for new financial regulations to prevent such speculation.
The Special Reporter, in a press conference, warned of worsening food riots and a "horrifying" increase in deaths by starvation<!--QuoteEnd--><!--QuoteEEnd-->