Remarks made last week by the chairman of Nestle about the use of corn for biofuels production were not only wrong but dangerous, the president of the National Corn Growers Association said.
“It is scandalous, ludicrous and highly irresponsible for the chairman of a global conglomerate that tripled its profits last year to talk about higher corn prices forcing millions into starvation,” said NCGA President Bart Schott. “Perhaps if Nestle is so concerned about food prices, its board will consider putting more of their $35.7 billion in 2010 profits back into poor communities. Just their profits alone represent more than half the entire farm value of the 2010 U.S. corn crop.”
Schott was reacting to comments by Nestle Chairman Peter Brabeck-Letmathe at a meeting last Tuesday of the Council on Foreign Relations. Schott also challenged Brabeck-Letmathe to take the time to study facts and figures before making ridiculous comments about an industry that he clearly knows little about, nor bothered to study up on.