According to him: this would put the World Bank in a difficult political situation facing the White House. The news comes at a critical moment in global negotiations over biofuels policies. The leaders of the eight countries most industrialised G8, as known s gathered in Hokkaido, Japan, where it was discussed on the food crisis and where were subjected to an intense lobbying campaigns calling for a moratorium on the use of biofuels. There is this attentive, since then on the report that with regard to biofuels will publish the British Government. He says Chakrabortty, The Guardian already advanced the study indicate that agrofuels have played an important role in the increase of the food prices reaching unprecedented levels. The increase in food prices has led to 100 millions of people below the poverty line, according to World Bank estimates, and have caused riots from Bangladesh to Egypt.
The Government Ministers have described the high prices of food and fuel as the first real economic crisis of globalization. President Bush has linked the high prices with the increase in demand from India and China, but the leaked World Bank report calls into question this assertion: the rapid growth of income in developing countries has not led to an excessive increase in the consumption of cereals and has not been responsible to an important extent by the large increase in prices. According to the report, even successive droughts in Australia have only had a marginal impact. However, the policies of the US and Europe, betting on biofuels, have been responsible for the greatest impacts on the supply and prices of food. Noteworthy comments Chakrabortty, the basket of prices examined in the study increased by 140% between 2002 and last in February of this year. The report estimated that the increase in the prices of energy and fertilizers contributed to an increase in the price of 15%, while agrofuels have been responsible for 75 per cent in the same period.