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30 Jun 2007 description

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Food import bills reach a record high partly on soaring demand for biofuels Based on FAO's latest analysis, global expenditures on imported foodstuffs look set to surpass US$400 billion in 2007, almost 5 percent above the record the previous year. The bulk of the increase can be levelled against rising prices of imported coarse grains and vegetable oils, the commodity groups which feature most heavily in biofuel production. Import bills for these commodities are forecast to rise by as much as 13 percent from 2006.