Food vs. Fuel debate. Agribusiness chairmen don't see eye-to-eye
Recently, Cargill's CEO and chairman Warren Staley said farmland should be used to grow, "Food first, then feed and last fuel." The next day, G. Allen Andreas, the chairman of ADM, said the world can grow plenty of food, and that hunger and famine are the result of infrastructure and capital problems around the world. ADM and Cargill both produce ethanol from their crops, and ADM's stock price has recently jumped up because of the market's attraction to ethanol. Cargill is privately held, according to the article. Neither chairman elaborated on their statements.
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