SOARING DEMAND FOR [tag-tec]ETHANOL[/tag-tec] SPIKES CORN PRICES IN US
Increase in the demand for ethanol resulted in spiking prices of corn and shortage of some popular biotech hybrid seeds in US, since farmers are planting the crop in massive amounts.
Owing to the soaring demand for ethanol, corn prices have also jumped to an unparalleled level in US. Since corn is used massively to produce ethanol there. Consequently, the farmers in the country are all set to plant corn‘s crop in massive amounts this spring. This is creating dearth for some popular [tag]biotech [/tag]hybrid seeds.
“It is a nationwide problem. One reason it is so severe in Kansas is that a lot of the seed available for us is being used to replace cotton acres in Texas and Mississippi. But the shortage is nationwide”, Terry Vinduska, sales representative for the Pioneer Hybrid International, Marion, said in a statement that THE HUTCHINSON NEWS published on 14 March 2007.
Several acres of cotton would be planted for corn rather than cotton in 2007, said Vinduska, noting that the corn price had almost doubled in comparison to what it was during the same period a year ago (2006).
As a result of this some of the corn growers in Kansas might fail to find the biotech hybrids, which are corn borer, rootworm or herbicides resistant, added she.
In a statement that THE HUTCHINSON NEWS published on 14 March 2007, Kansas Corn Growers Association’s executive director, Jere White said that he anticipated a considerable growth over the year 2006. He also expected those additional core acres would come from farmers who’re shifting from soybean acres in Kansas.
As per the RNCOS report on “US Biotech Market Analysisâ€, “With the crisis of [tag]energy[/tag] and surge in the prices of gas that surfaced in the US in recent years, there’s been a tremendous increase in the demand of alternative fuels such as ethanol. Growers in America could improve the production of corn by 39 Billion Pounds over the first decade of planting the biotechnology deprived crops.â€
This research report on “US Biotech Market Analysis†provides extensive research and objective analysis of The Biotechnology industry in US. It helps clients in analyzing the opportunities critical to the growth of Biotechnology industry in US. The issues analyzed in this report include: market trends in the U.S Biotechnology industry, where the market will be after five years, opportunities that exist in U.S Biotechnology industry, driving factors for the U.S Biotechnology industry, and so on.
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