Joint Research Centre claims biofuels impact vegetable oil prices significantly

In Italy, the European Commission’s Joint Research Centre released a study that says use of vegetable oil for biofuels will lead to 50% higher vegetable oil prices in Europe by 2020 and up to 15% higher in the rest of the world. The report says that an 8% cap on first generation biofuels would see vegetable oil use for biofuels fall by 28% and would fall by 75% if there were no biofuels policy at all.