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Purdue/USB study evaluates impact of soy-based biofuels on food prices

A new study analyzes whether the increased use of soybean oil in biofuels has contributed to the rising retail prices of food products for consumers.

The United Soybean Board recently partnered with Purdue University on the food and fuel report, which found that while greater biofuel demand contributes to rising prices of soy oil-based foods, increased availability of soy meal is driving down the cost of animal proteins – offsetting the Consumer Price Index.

Brownfield spoke with both the United Soybean Board and Purdue University about the study and it’s findings at the 2023 American Farm Bureau Convention in San Juan, Puerto Rico. Learn more by clicking on the audio files below.

AUDIO: Jayson Lusk, Distinguished Professor and Head Department of Agricultural Economics at Purdue University

AUDIO: Steve Reinhard, Vice Chair of the United Soybean Board