Record price for maize on world market
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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