Unilever comes out against worldwide rush to biofuels

Unilever, the food and consumer goods group, has thrown its weight behind moves to scrap mandatory biofuel targets and subsidies. It is backing recommendations being made today to Commonwealth finance ministers at their annual meeting in St Lucia to improve food security and prevent famine.

Unilever is concerned that subsidies for biofuels are driving up food prices and the cost of its products.