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A full waiver of the Renewable Fuel Standard’s (RFS) conventional biofuel requirement might reduce corn prices by just 0.5% ($0.04 per bushel) in 2012/13, according to a new analysis conducted by the Food and Agriculture Policy Research Institute.
The study also found corn ethanol production might slip by just 1.3% with a waiver in 2012/13, while corn available for livestock feed might increase just 0.6%. Further, the analysis concluded a waiver of the RFS would have no effect on retail beef prices in 2013, and might shave just 1 cent per pound off of retail pork prices.
The Renewable Fuels Association (RFA) said the new FAPRI study adds to a mounting body of evidence showing that a waiver of the RFS would not meaningfully impact feed prices.
Source: 25 x' 25 Weekly Resource