Hungary? No not really!

Oh, hello, yes did you think I said yes please grow as much corn as you possibly can and I'll take the lot? You must of misheard, what I actually said was I'll take none......

Announcements about new bioethanol investments in Hungary stood bumper to bumper last year, but there is not one of them that is currently being realised. The high price of maize and environmental protection concerns about the technology to be used have made the project conditions completely uncertain.

“As far as I'm concerned, there is no bioethanol plant under construction at the moment, but I must underline that only a few of the previously announced 30-32 deals have even made it to the authorisation phase," László Zsemberi, President of the Hungarian Bioethanol Association, told business daily Napi Gazdaság on Thursday.

Zsemberi attributed the non-realisation of the majority of these projects to two key factors. One of these, he said, was the absurdly high price of maize, the base material for bioethanol production, and another the uncertainties surrounding European Union regulations on the sector.

Source http://www.portfolio.hu/