Endnotes
1These sharp increases in prices will be mitigated if crop yields increase substantially or if biofuel production comes to be based on other raw materials, such as trees and grasses. While there is little indication that the latter is imminent, the improvements in yields are noticeable. The average yield of maize in the United States has increased about 2% per year over the last 15 years and the
USDA projects a further improvement of 10% for maize and 5% for soybeans over the next 10
years. In the region of Brazil's Sao Paulo, sugarcane yields increased by 33% between 1975 and
2000. At the same time, the efficiency of conversion from food crops to biofuel crops has also
been increasing—at about 1% per year for ethanol and about 0.3% per year for biodiesel.
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The views expressed in this paper are the views of the authors and do not necessarily reflect the views or policies of the Asian Development Bank Institute (ADBI), the Asian Development Bank (ADB), its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms.
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