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October 13, 2012

Economic data suggest RFS waiver would reduce corn prices more than $2.00 per bushel

A full waiver of the 2013 Renewable Fuels Standard requirement would reduce the price of corn by more than $2.00 per bushel, according to economic data cited in comments submitted today by the National Chicken Council (NCC) to the Environmental Protection Agency in support of a full, one-year waiver of the RFS.

NCC also hand delivered almost 10,000 individual comments from those whose livelihoods depend on the chicken industry, almost three quarters of which came from chicken farmers.

"Our comments prove in detail that the RFS is causing severe economic harm to the U.S. economy, and the 2013 requirement must be waived in full," said NCC President Mike Brown.  "Today’s corn crop report released by USDA verifies that this harvest will mark the lowest production since 2006.  Despite 13 percent less corn than last year to go around, it is irresponsible to divert more than 40 percent of it to use as a second-rate motor fuel."

"A California poultry company just this week filed for bankruptcy citing rising feed costs, making it the eighth company in the last two years to file for bankruptcy, be sold or simply close its doors," Brown continued.  "How many more jobs and family farms have to be lost before we change this misguided policy and create a level playing field on the free market for the end users of corn?"  Read More

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