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Ethanol could cause shortfall of $30 billion in meat production, study says
Story Date: 11/7/2012
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Source: Michael Fielding, MEATINGPLACE, 11/6/12
Combined meat and poultry consumption in 2013 would be 25 pounds per person more if the federal government relaxed its mandate on using corn for ethanol production. This, according to “Ethanol Production: Economic Impact on Meat and Poultry Consumption, Value, and Jobs,” a study issued last week by FarmEcon LLC.
The mandate that 13.8 billion gallons of ethanol should be blended with gasoline next year alone is expected to hit the meat and poultry industry with a production value loss of about $30.6 billion, according to the report, which charges that there is little domestic demand for fuel ethanol.
Large net exports of ethanol have taken their toll on the corn supply necessary for American meat and poultry consumption. "Further scheduled increases in mandated ethanol production will likely lead to higher net ethanol exports, further reducing our ability to add value in meat and poultry production," according to Dr. Thomas E. Elam, president of FarmEcon LLC, who authored the report.
For the full report, click here. |
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