Feedgrain summit identifies key trends
A press release yesterday in Canberra from a summit of
the major livestock feedgrain producers and federal government officials stated
the main factors that are driving grain prices high and are causing food
The current high grain prices are resulting in serious losses for pork, egg,
beef and dairy farmers coupled with job losses within the economy.
International grain stocks are at a current all-time low due to higher grain
demand. Countries such as Australia with unfavourable growing seasons and
drought are suffering under the current grain shortage.
Additionally, record amounts of grain, which in
the past were destined for human and animal consumption, are being deployed to
produce bio-fuels. Governments are requested by feedgrain users not to market
ethanol because of the effect it has on feed grain prices and the cost of
By 2009, biofuels will use at least 10% of the global grain supply. It is
felt that there should be huge public debate on the affects of inflation caused
by biofuels from grain.
The Australian feedgrain industry has requested the government to help
improve transparency by collecting and releasing monthly grain stocks on a state
by state basis.
â€¢ Australian Pork
â€¢ Australian Egg Corporate Limited
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