Impact of EU Biofuel Policies on World Agricultural and Food Markets
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This paper assesses the global and sectoral implications of the EU biofuels directive in
a multi-region computable general equilibrium framework. Our results show that
without mandatory blending or subsidies to stimulate the use of biofuel crops in the
petroleum sector the targets of the EU Biofuel directive will not the reached in 2010.
With mandatory blending the enhanced demand for biofuel crops has a strong impact
on agriculture at the global and European level. The additional demand from the
energy sector might slow down or reverse the long term process of declining
agricultural prices.