The One to Count On...

Cheaper Thanksgiving Meal

Posted: Tuesday, November 23rd, 2010 at 6:22 am
Author: KCII News - Bill Gatchel

You might be paying less for your Thanksgiving meal this week thanks to more Ethanol production.  That means that the average cost for 10 people to eat is $43.47 which is down $1.14 from what you paid two years ago according to the American Farm Bureau Federation.  Monte Shaw, Executive Director at the Iowa Renewable Fuels Association says that ethanol production has increased from 9 billion to almost 13 billion gallons.  Shaw says that using corn for ethanol is simply not a factor when it comes to consumer prices at the supermarket.  When the Farm Bureau first did its study in 1986, the bill came to $28.74 which, when adjusted for inflation would be $57.28 in today’s dollars, which means that today’s Thanksgiving meal is 30% cheaper than in 1986.  Over that same time period, ethanol production has increased from three-quarters of a million gallons to approximately 13 billion gallons.