US Restaurants Join Anti-Ethanol Mandate Rally

From NASDAQ

By Joao Peixe

The ethanol industry, already reeling from a draft plan for cuts in the ethanol mandate for this year, will now face more pressure as everyone from conservatives and environmental activists to restaurant chains pool their resources to lobby for more cuts.

In November, the Environmental Protection Agency (EPA) issued a proposal to reduce the ethanol and biofuels mandate for 2014 and now a new coalition of the unlikely, which includes industry groups, the Clean Air Task Force and even the National Council of Chain Restaurants (NCCR) are pushing lawmakers to ensure more cuts.

For restaurant chains such as Pizza Hut and KFC (YUM), the ethanol mandate has led to higher food prices due to the artificial demand for corn, which hinders the performance of other food commodities such as wheat and potatoes.

Earlier this week, over 30 advocacy groups and industry interests penned a letter to lawmakers in Washington calls on the government to take more drastic action to restrict the “unworkable” ethanol mandate.

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