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The Reason for the Increase in Price on Corn - Research Paper Example

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The focus of this paper is on corn. Is is the most complex grain and its production has changed the face of history as billions of livestock and human and is also considered a good source to work as an alternate to oil. Over 300 Million metric ton of corn is being produced by the United States…
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The Reason for the Increase in Price on Corn
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The demand for corn has gradually decreased in the year 2012 due to increase in prices for corn. The current price of corn is rated as US$ 8.60 per bushel. The reason for the increase in price is due to several reasons among which the need for ethanol in US tops the list. Corn is highly recommended for diabetic patients as it helps in lowering the sugar level as it contains 18.4% of fiber which is required daily for diabetic patients. The month of July had a greater increase in the price of the corn because of the flood which destroyed the crops. The total production of corn in the country is recorded as 329,453 Metric tons which is the highest production rate by any country (Thomas).
United States is the leading corn exporter with 1.9 billion bushels and importing up to 600 million bushels. The country is known for producing different types of corn with over 7.6 billion bushels of demand. Read More
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